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Bootstrapping Doesn’t Mean Doing It All Alone

Tips From T. Marie

Rather than hiring employees with the expenses of payroll, taxes and equipment, you can create a virtual team that can take care of individual projects and tasks without those expenses. Not having to provide office space, equipment, payroll, health insurance or payroll taxes is a huge benefit. What is a virtual team?

Payroll 222
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3 Smart Money Moves to Make Before Starting a Business

Success

You could also go through the process of borrowing from venture capitalists and angel investors. Because business growth requires capital to support payroll, accounts receivable, inventory and more, it’s a good idea to establish forecasting models. Borrowing from a bank can be costly due to interest rates and down payments.

Finance 345
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What’s the deal with on-demand pay?

BMT Office Administration

There were at least 11 on-demand pay vendors at the American Payroll Association’s Annual Congress last month, not including the national third-party payroll providers. Nothing wrong with vendors highlighting their products at a convention of Payroll professionals. What is the additional burden on the Payroll department?

Payroll 97
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In-Depth Guide to the Timesheet Approval Process

BMT Office Administration

You can’t just take your employees’ word for the hours they worked, which is where the timesheet approval process enters the picture. For example, a solid timesheet approval system will help you stay on budget, and you can gain insights into your workforce’s productivity. Why is timesheet approval necessary?

Payroll 52
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Choosing the Right Payroll Programs for Small Business

Small Business CEO

Automating payroll processes promises saved time and increased efficiency, however, the process of switching may appear daunting, particularly if there is uncertainty about which payroll program is right for the organisation. Tips on how to choose the right payroll software solution : Examine the business needs.

Payroll 40
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Constructive receipt and on-demand pay, a murky payroll intersection

BMT Office Administration

Included for the second time in the administration’s budget are new payroll tax rules governing on-demand pay. If you allow employees to request pay advances, you should have written criteria governing the process. The transaction is a loan from the employer to the employee. If it’s not a commercial loan, what is it?

Payroll 52
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Early direct deposit may be an alternative to on-demand pay

BMT Office Administration

Regardless of the sales pitch, on-demand pay is a boondoggle for Payroll. Every vendor will tell you why their on-demand pay program is worry-free for Payroll—it’s OK because employers are cut out of the process, or it’s OK because employers are part of the process. Update to on-demand budget provisions.

Payroll 52