You’re probably familiar with the term payroll advance, but on-demand payroll is still pretty new. Giving employees an advance simply means you’re giving them access to their paychecks early (due to an unforeseen event). It’s considered a loan because they haven’t yet earned all of it—they have to pay it back. On-demand payroll means giving…
Top 10 Entry-Level Jobs for College Grads in the COVID-19 Era
For new college graduates, entering the workforce now is daunting, to say the least. According to the latest U.S. Bureau of Labor Statistics report, the U.S. economy lost an unprecedented 20.5 million jobs in April, with an almost 15% unemployment rate. However, the current crisis has hit specific industries harder than others, and demand has…
Paying Your Employees: What Options Do You Have?
Employers have options when it comes to compensating their workers. In addition to the most common payment methods including cash, check, direct deposit, and pay card, there are some more creative options to choose from. In some states, you have to offer a minimum of two different ways to pay employees or you can be…
1099 vs W2 Employees – Which is Better?
When it comes to hiring new workers, business owners can choose between independent contractors and employees. Contractors have more independence in how they conduct their work but aren’t protected by labor laws, such as minimum wage. They also receive different tax forms (1099 vs W2) to report their earnings to the IRS because employers don’t…
Payroll Records: What to Keep & How Long to Keep Them
Payroll records are documents with any information about a company’s payroll, including data about employees, paychecks, and taxes. Per federal law, you should retain payroll records for three years and payroll tax records, such as unemployment taxes, need to be kept for four years. States such as New York, and agencies such as ERISA (governing…
State & Local Mandatory Paid Sick Time Laws For 2020
There are several state, city, and county paid leave ordinances that require employers to offer paid benefits for employees who are sick. Within several states, there are potential changes toward paid sick leave that employers should monitor regularly as state and local policies can change from time to time. We provide a summary of laws…
What Is an Employee Assistance Program (EAP) & How Does It Work?
An Employee Assistance Program (EAP) is a confidential workplace service that employers pay for and is free to employees. An EAP is commonly the most overlooked, yet valuable, benefits offered by organizations large and small. Counseling services provided by an EAP help employees manage life-stressors of all kinds. An EAP can help employees stay focused…
6 Free Time Cards & Downloadable Timesheet Templates
A timesheet tracks the hours employees work over a period of time. Small businesses use employee time card data to calculate company payroll, and independent contractors and freelancers use them to bill for time worked. We’ve provided six free downloadable timesheet templates for multiple pay schedules: weekly, biweekly, semimonthly, monthly, and daily. If you’re interested…
How to Calculate Payroll For Employees
Before hiring employees, spend time learning how to calculate payroll for your business. It’ll save you time from having to correct errors and thousands of dollars in penalties; you might even experience lower turnover by eliminating paycheck frustrations. You can perform calculations manually (hours worked X pay rate), using an online calculator, or with software….
What is FTE and How to Calculate [+ Free FTE Calculator]
FTE stands for full-time equivalent (not full-time employee) and translates the total hours worked by part-time employees into the number of equivalent full-time employees. Tracking FTE is a typical way employers monitor employees’ workloads so future budgeting and staffing can be properly planned for. To calculate FTE you have to know how many full-time and…
Oregon Sick Leave Law: The Ultimate Guide
Several years ago, Oregon’s sick leave law, prompted by Senate Bill 454, mandates five days of paid sick leave for full-time employees in businesses that employ 10 or more workers. More recent guidelines relating to COVID-19 have added to these requirements. This guide also addresses Portland’s local leave laws, which require that employers with six…
How to Set Up QuickBooks Payroll Direct Deposit in 5 Steps
Setting up QuickBooks Payroll direct deposit is pretty easy, whether you use an online payroll plan or QuickBooks Desktop Payroll. You can finish the majority of the process (except account verification) in well under a day, depending on the number of employees you have and if all required bank account information is handy. You can…