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Bank failures and payroll — what employers should know

BMT Office Administration

A close call The FDIC announced Monday that it would protect all deposits, which means employers should have no problem making their payrolls. Explore whether it’s possible to switch your payroll accounts to another bank. So employees are probably going to have questions about the security of your payroll processes.

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The Paperless Payroll

Eco-Office Gals

Be it computers, phones, tablets, and other digital devices, seldom will you find a position that doesn’t utilize at least a computer. What Are Some Advantages of the Paperless Payroll? One of the biggest conundrums that, what we call the paperless payroll, would solve would be human error.

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5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. And employees are going to want to access their W-2s on their phones. Require multi-factor authentication for employees who wish to receive their W-2s on their phones. Test your systems for 2022 filing.

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10 Simple Tips to Improve Your Time Management Skills

Success

If you work at a company) Why am I on the payroll? An unexpected phone call or a drop-in visitor may be urgent, but the consequences of dealing with either may not be important in the long run. Do you receive phone calls that divide your focus? What can I, and only I, do that I’ve done well before to make a difference? (If

Skills 255
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Introducing FedNow: The Fed’s new direct deposit service

BMT Office Administration

You send the payroll file to your bank a few days before payday and your bank sends files through the ACH network to employees’ banks. Same-day settlement vs. FedNow You would not want to use same-day settlement for your regular payroll , because some additional cost is involved. Direct deposit is a closed loop.

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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen. What pay is taxable?

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How Hiring Virtual Assistants Can Boost Employee Performance and Work-Life Balance

Success

Typical tasks a VA can help with include: Communication, such as phone and email management Organizing Data entry Invoicing and payroll management Social media administration Research What might the return on investment be? Their answers can be revealing. Gordon says the payoff has been well worth the investment.

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