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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Health insurance forms. Note that employers who are required to encourage applicants and employees to self-identify as an individual with a disability under Section 503 of the Rehabilitation Act must keep these self-identification forms separate from all other records, including other medical records. Pay authorization forms.

Filing 121
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In-Depth Guide to the Timesheet Approval Process

BMT Office Administration

In fact, this is why human resources professionals still refer to clock-in times as ‘punches.’ If so, read on to learn how you can streamline your time approval to save time and money. Other reasons why timesheet approval is a necessity include: It ensures proper payroll processing. Why is timesheet approval necessary?

Payroll 52
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What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

After all, commercial real estate is, on average, the second-highest expense for most businesses, only surpassed by payroll. Real estate costs can be reduced by downsizing the amount of space needed and allowing for flexible desk booking policies, or “office hoteling” as it is often referred to. . The answer is not so clear-cut.

Policies 298
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

To clear things up, we’ve put together this extensive guide breaking down what you should and shouldn’t include in your employee files — so read on to learn more. Besides the EEOC, the IRS also has requirements for employee documents, including which forms you need to have for each employee, such as W-4s.

Filing 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

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

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. That’s why I’ve put together this beginner’s guide to business finance, so read on to learn the fundamentals of financing a business. Equity (net worth) What does it mean when someone refers to their business’s equity?

Finance 105
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How to handle remote employee time tracking

BMT Office Administration

Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. Employee time tracking refers to keeping track of an employee’s work hours and productivity. Its core features include: Automated invoicing & payroll. What is remote employee time tracking? Employee scheduling.

Payroll 52