Before hiring employees, it’s important to take the time to learn how to calculate payroll for your business. It’ll save you time from having to correct errors and possibly thousands in fines, and you might even experience lower turnover by eliminating paycheck frustrations. You can perform calculations manually (hours worked X pay rate), use an…
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Types of HR Software: Ultimate Guide for Small Businesses
From recruiting and onboarding to benefits administration and payroll, human resources (HR) software assists your company in every aspect of your employee life cycle. Individually, these programs can save you time and money. Together, they have the added benefit of giving your employees a single solution for all of their HR needs. This guide provides…
New Employee Information Form: What It Is & What to Include (+ Free Template)
A new employee information form collects vital new hire data that you need to have on file. Your form should include some basic information, like the new hire’s name, contact information, and emergency contact details, as well as some pertinent employment-related details, like their role, hire date, and pay rate. Keeping this information helps you…
Accounting 101: Basic Terminologies, Accounting Cycle & More
In simple terms, accounting is the process of recording and summarizing transactions for the purpose of generating reports relevant to decision-making. Regardless of the business size, it is an important business function to ensure that all of the owners’ resources are used efficiently and effectively. Many certified public accountants (CPAs) and business executives define accounting…
Lead Generation: A Guide for Small Business
Companies of all sizes use lead generation to ensure they are regularly attracting new potential buyers into their sales funnel. In this article, you’ll learn more about what lead generation is, proven strategies for small businesses, and which software tools will keep your sales pipeline consistently full of opportunities. What Is Lead Generation? Generating leads…
Employee Attendance Tracker: What It Is & How to Use One [+ Free Template]
An employee attendance tracker is a way for you to track your employee’s attendance, tardiness, absenteeism, and time off—a major part of managing employees. Often set up like an employee attendance calendar, you can track employee attendance by manually inputting data on a spreadsheet or through attendance tracking software. A good employee attendance tracker allows…
What Is a Profit and Loss (P&L) Statement? [+ Types & Uses]
The profit and loss (P&L) statement (also known as an income statement) is one of the four basic financial statements that presents the revenues, expenses, and net income of a business. In basic accounting, the P&L statement is always one of the first financial statements to be prepared. It measures the performance and profitability of…
Workforce Analytics: A Guide for Small Businesses
Workforce analytics is the data collection and analysis that businesses use to understand their people (i.e., employees, teams, etc.). It can help your business measure employee performance, engagement, behavior, retention, and overall return on investment (ROI) related to your workforce. With technology, it is easier than ever to gather and crunch big data, simplifying work…