If you’re already using QuickBooks Online and you have employees, consider adding QuickBooks Payroll to your plan. You can access it from the same system you use to manage your business’ books, and your payroll expenses will easily transfer to the appropriate general ledger accounts. In just a few easy steps, you can set up…
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Top Human Resource Payroll Software 2020
Human Resource payroll software gives businesses a range of HR support in addition to payroll processing features. It shares information between the two functions—employee record changes that affect payroll are automatically synced. Costs can run from $16 to over $150 per employee, per month, depending on how expansive your HR needs are. 8 Best Human…
What Is Payroll Software Integration?
Payroll software integration happens when you sync your payroll system with other software, for instance, with an accounting program. It saves you from having to enter the same payroll information into two separate programs and even allows your employees to do some of the work for you. Payroll software commonly integrates with HR, time and…
Gusto vs ADP 2020
Compared to ADP, Gusto is more affordable and caters to smaller businesses that are mostly concerned about paying their employees and complying with payroll tax laws. ADP on the other hand has a flexible platform that supports growing businesses with payroll and HR needs that may evolve in the near future. They both give you…
What Is Payroll?
Payroll is a process where the employer pays its workers, applicable tax agencies (including the IRS), and vendors that are under contract to provide employee benefits. In some cases, such as a court garnishment order, it even includes withholding money to pay an employee’s creditors. Handling payroll the right way is important. Employers must perform…
6 Best Free Payroll Software 2020
Free payroll software calculates paycheck amounts and helps track employee deductions like workers’ compensation, insurance, and taxes. Some software options offer features like direct deposit but most lack tax filing and state compliance. They’re good starter options if you have a few employees; you can always upgrade to a paid alternative as your business grows….
Best Payroll Apps 2020
The best payroll apps make it easy for employers on the go to manage payroll when they’re out of the office. When evaluating apps, our primary focus was on cost (service cost; most apps are free), ease of use, and depth of payroll processing features. Some apps may cost less money to use but won’t…
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…
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….
2020 Payroll Tax Rates [+ State Tax Map]
Federal payroll tax rates like income tax, Social Security (6.2% each for both employer and employee), and Medicare (1.45% each) are set by the IRS. However, each state specifies its own rates for income, unemployment, and other taxes. Below is a state-by-state map showing tax rates, including supplemental taxes and workers’ compensation. All of QuickBooks…
21 Payroll Terms Every Employer Should Know
When you’re new to payroll, the lingo can sometimes leave you confused. It’s important to invest some time into learning the most commonly used payroll terminology, so you don’t make any weird (and potentially costly) mistakes such as assuming we know what minimum wage is exactly and how it’s defined. The top 21 payroll terms…