You’ve Got to Get Payroll Right
If you are a business owner, you are probably busy 24/7 and can’t always give each needed task your full attention. If you get to the point where you have to put something on the back burner, make sure it’s not payroll. YOUR PAYROLL DEPARTMENT has powerful tools to help you avoid these common payroll mistakes.
1. Inaccurate Time Cards
Manual timekeeping systems that require team members to record hours on a paper timesheet are valuable to errors that are both willful and unintentional. Employees often record their official shift start time even arriving late and do the opposite when leaving early. Even your most faithful associate can have trouble accurately recalling hours when filling out a time card several days after the fact. Erroneous timecards increase costs of labor unnecessarily and burden your HR staff (which may just be you).
2. Misclassifying Employees
Employee classification impacts benefits eligibility, minimum wage provisions, overtime pay eligibility, and workers’ comp eligibility. Employers who misclassify are in danger of state and federal penalties and should consult the comprehensive DOL guidance on the issue.
3. Failing to Pay Payroll Taxes
Small business owners may wrongly think that failing to pay payroll taxes is akin to not paying personal income taxes. If you get in a cash pinch, DO NOT delay paying your payroll taxes as a stopgap measure.
Meeting all of your employer tax obligations is problematic without accurate time and attendance data for each pay period.
YOUR PAYROLL DEPARTMENT serves many businesses like yours and can help you avoid these dangerous pitfalls with the experience and proficiency you can trust in.
Contact Us for a FREE 30 Day Time & Attendance trial.