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Upcoming regulatory initiatives and their impact on payroll

BMT Office Administration

the American Payroll Association’s director of government relations. Speaking at the American Payroll Association’s 40th Annual Congress this week in Las Vegas, Jacobson, Robert Wagner, Esq., and Mike Linehan caught attendees up on today’s hot payroll -related regulatory issues. This keeps Payroll in the loop.

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What Is Cryptocurrency’s Role In The Future Of Work?

Allwork

Cryptocurrency – the most famous example of which being Bitcoin – is a decentralized digital currency that does not depend on traditional institutions, such as the government, to maintain its use and exchange rates. . An example of a company that does this is the crypto wallet company Exodus, where its employees are paid in Bitcoin. .

Salary 299
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In-Depth Guide to the Timesheet Approval Process

BMT Office Administration

For example, a solid timesheet approval system will help you stay on budget, and you can gain insights into your workforce’s productivity. Other reasons why timesheet approval is a necessity include: It ensures proper payroll processing. Whenever a manager submits their employee timecards to payroll , they need to be extremely precise.

Payroll 52
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3 Smart Money Moves to Make Before Starting a Business

Success

Borrowing funds from a close friend or family member, for example, can put a strain on relationships. For example, do research ahead of time to predict the average accounts receivable timelines for your industry. You should consult your own tax, legal, and accounting advisors. It will help you set better expectations.

Finance 345
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Strategies For Success In Senior HR Roles In The Future Of Work

Allwork

They dealt with problems as they arose, such as issues between employees that needed a third party, performance problems with particular employees, or other legal or compliance issues relating to always-updating regulations. Essentially, the traditional CHRO was reactive.

Payroll 299
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

For example, the Equal Employment Opportunity Commission (EEOC) requires that employers must keep personnel records for one year. Also, you’re legally obligated to retain these records for at least one year by the EEOC. Confidential documents include medical files, tax documents, employee benefits , payroll records, and more.

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Employee Records: End of year review & preparing for next year

BMT Office Administration

Not only that, but with the end of the year just around the corner, companies need to know which documents they need to keep and which they can discard without incurring any legal penalties. Employers keep many records and documents about their employees, not only for legal requirements but also because it’s just a good business practice.

Medical 52