Nobody likes to think about fraud, especially in their businesses. We all hope that it will never happen. Once a business owner came to us because their cash sales kept declining while credit card sales grew. They were puzzled about this trend. Upon further investigation, it was found that an employee was embezzling cash and covering their tracks. It was heartbreaking for the business owner that their employee broke their… Read more
What is Payroll? Payroll refers to the process of managing and processing employee compensation, including wages, salaries, bonuses, and deductions. This process includes calculating employee pay, withholding taxes, and other deductions, and ensuring that employees are paid accurately and on time. Photo By Monstera Production Preparing for Payroll Before you can start running payroll, there are a few steps you need to take to prepare: Legal and compliance requirements To… Read more
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time… Read more
Photo By Geralt When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, you pay a lot of attention to the bottom line. This makes… Read more
Photo By Christina Morillo Depending on the nature of your business, you may have workers who are employees or contractors, or you may have both. Each has their merits, but it’s important to review which are which in order to meet your tax obligations. When you have an employee, you must withhold income tax as well as report on additional benefits. Contractors generally look after their own tax obligations. It’s… Read more
Photo By Monstera Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the… Read more