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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

Payroll 52
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

The beginner’s business finance glossary “Our P&L report shows that our revenue is now greatly exceeding our expenses, and we’re showing a considerable profit.” “In The catch is that a business’s fiscal year does not have to line up with the traditional calendar year.

Finance 105
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5 SOP examples for your business

BMT Office Administration

Conduct the HR orientation to orient the new employee with the timekeeping and payroll software , necessary paperwork, and internal resources. The finance department is responsible for approving high-value office supply purchases and reconciling expense purchases. Follow the expense policy to document any charges put on a company card.

Payroll 72
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

A 1099 is a form used to report non- employee compensation. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor.

Payroll 52
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The Blended Role of Executive Personal Assistants

C-Suite Assistants

They schedule both business and personal appointments, maintain the calendar, and are responsible for a full range of administrative and personal duties—from managing correspondence and making appointments to booking speaking engagements and event planning. In this case, these will be two separate people.

Payroll 74
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How Your Non-Profit Can Benefit From a Virtual Executive Assistant

Worxbee

Occasionally, EAs are tasked with scheduling performance reviews or even jobs related to payroll. EAs can manage a calendar of development activities and make sure that the executive director meets key dates (such as grant deadlines). They can set up key tasks for compliance and include them on the calendar where needed.

Budget 52
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Are your employee pay profiles correct? It’s time to check

BMT Office Administration

If an employee’s home state is wrong in their employee profile and they work remotely, you will not withhold and report the proper state’s income taxes. Once you cross calendar years, you can’t correct income tax withholding. You need to configure deduction codes properly for the states not following the federal rules, Stone said.

Salary 52