Common Payroll Mistakes That Hurt Businesses

Payroll processing is one of the most complicated, yet important business functions. Payroll mistakes can cost a business in labor hours, hefty penalties, and reputation. Payroll errors can have tremendous ripple effects throughout the organization and can seriously impact, or even disrupt, cash flow. Here are some common payroll mistakes seen by a payroll processing company near you. Employee Misclassification Misclassification of employees is one of the most common and costliest payroll mistakes. Employees can be classified into three categories: full-time employees, temporary or contract employees, and part-time employees. Independent contractors are not considered employees of an organization and are [...]

Smart Monkey2022-07-22T06:35:31-07:00July 13th, 2021|Payroll Services|0 Comments

How Many Days Does It Take to Process Payroll?

Payroll processing can often be quite intimidating, especially without the right tools and measures. While payroll irregularities can impact whole other proceedings, employees are the ones that are hit the most. Here is a brief guide focusing on the specific aspects of payroll processing from Virtual Jeannie Bookkeeping. What Is Payroll Processing? Payroll processing is all about managing employee payments while adhering to certain regulation clauses like Provident Fund, PT, and labor laws. From enrolling an employee to your payroll to handing them their paychecks — it's all part of the payroll processing. While payroll management can be a simple [...]

Smart Monkey2022-07-26T00:47:34-07:00February 15th, 2021|Payroll, Payroll Services|0 Comments

Why Hiring a Payroll Services Provider is The Best Choice For Your Firm

Payroll processing is an essential business function as it involves managing employee payments. Payroll processing can be confusing, complex, and costly. It takes both time and effort to gather employee information, calculate deductions, and ensure you are withholding the right amount for federal and state taxes. Your accounting team has better things to do. It is a far better option to outsource payroll functions to save time and money. Outsourcing increases business efficiency and allows you to focus on your core capabilities. Your accounting team will have more time to focus on more productive activities, such as creating a financial [...]

Smart Monkey2022-07-26T02:44:05-07:00November 23rd, 2020|Payroll Services, Payroll|0 Comments

Payroll Processing – A Vital Component of Accounting

A business does not run on its own, the people in the company make it function. There are many components in a business that need to be taken care of besides just sales and marketing. For a smooth internal efficiencies, payroll processing companies near me can be of great help. A multitude of accounting and finance components need to be managed for businesses to operate with ease. Understanding Payroll Processing Before jumping upon the significance of payroll processing in accounting, it is essential to understand it in its truest sense. Payroll processing is a method of calculating, recording, and analyzing [...]

Smart Monkey2022-07-26T00:58:50-07:00October 23rd, 2020|Payroll, Payroll Services|0 Comments

What will be the future of Payroll Outsourcing after the Pandemic?

The COVID-19 pandemic has tested every aspect of payroll. Companies have learned several important lessons in the past few months as businesses realize that they cannot be too reliant on manual payroll processes. Lessons Companies are Learning from the Pandemic Automation will be critical for business continuity in the post-pandemic world. Many companies realize this and are replacing old, inefficient IT systems that use manual processes with systems that leverage modern technologies. The coronavirus pandemic caught everyone off-guard. No one was ready for it. Many businesses have learnt from their mistakes. The pandemic taught the importance of having a strategic [...]

Smart Monkey2022-07-26T05:43:27-07:00September 24th, 2020|Payment Processing, Payroll Services|0 Comments

Important Steps to Improve Payroll Processing For Business

Let’s accept it. Payroll processing is challenging. Your payroll processing team has to gather employee information, calculate employees’ gross and net pay, and ensure they are withholding the right amount of money for federal and state taxes. These are time-consuming tasks. Changes in the tax structure, employee regulations, and compliance issues can make payroll processing time-consuming and difficult to execute. It is important that you revisit your payroll processing at regular intervals to weed out operational inefficiencies and replace them with efficient processes. Here are some ways to improve your payroll processing from Virtual Jeannie Bookkeeping. Align Different Pay schedules [...]

Smart Monkey2020-10-01T05:33:27-07:00September 14th, 2020|Payment Processing, Payroll Services|0 Comments

Accounting Mistakes That Put Your Small Business at Risk

Accounting services in Santa Rosa are a quintessential part of any business endeavor – be it large or small. Accounting is more than just addition and subtraction. Many small businesses make the blunder of handling their own money in the hope to save money, but end up making mistakes due to their lack of expertise in accounting procedures. Listed below are few accounting mistakes that can jeopardize your company. Failure to Keep Records of All Expenses – It is extremely important for every business to keep receipts for all business-related purchases. If your company has a credit card statement, it [...]

Smart Monkey2022-07-22T06:27:38-07:00April 13th, 2020|Bookkeeping, Payroll Services|0 Comments

Tips For Setting Up a New Company’s Payroll

If you are planning on opening a new business, setting up your company’s payroll can be rather overwhelming. Thankfully, there are many nearby payroll processing companies that can do this for you. However, before you hire someone to run the payroll for your company, it is important to understand the basic steps involved in setting up payroll. Listed below are a few tips you must be aware of when setting up payroll. Register for an Employer Identification Number – This is the very first step in setting up a new company. An employer identification number helps in identifying a business [...]

Smart Monkey2022-07-26T05:38:54-07:00March 25th, 2020|Payroll Services, Payroll|0 Comments

Protect Your Business Against Payroll Tax Penalties

Over the years, thousands of businesses have been charged with civil penalty for business income taxes and issues with employment taxes. Ignoring the problem will only create more problems in the future. Instead of doing that, it is recommended that you seek assistance and consultation from various companies offering payroll services to customers. If you are a resident of Santa Rosa, you can search for payroll services online to gather information and contact details of the same. A professional tax organization and payroll company has professionals in the team who have deep knowledge on commercial and taxation matters and can [...]

Smart Monkey2022-07-26T01:00:08-07:00March 15th, 2020|Payroll, Payroll Services|0 Comments

It’s the End of the Year – Are You Thinking About Switching Your Payroll Service?

As a small-business owner, it is best to file your taxes quarterly as it will give you a clear perspective of your finances. This is also the best time to assess your payroll service. If you feel that the service is unable to meet the needs of your business or there is something lacking, the end of the year is the best time to switch services. Remember, the end of the year signifies the end of the quarter, and it presents the best time to choose between the different Santa Rosa payroll services. Before you decide to make the switch, [...]

Smart Monkey2022-07-26T03:38:42-07:00December 23rd, 2019|Payroll Services, Payroll Services Company|0 Comments