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If you are thinking of changing the bank payroll because you are not happy or because you want better conditions, you are lucky. Changing banks is a free and much easier process than you think. However, if you have any doubts or you are not sure, we propose three fundamental reasons to change the bank payroll.

 

 

Change the bank payroll to get more profitability

Maybe you didn’t know, but you can put your money to work without any effort if you choose a paid payroll account. These types of accounts are very interesting if you want to get a return on your savings while you have them with complete freedom, when you need them.

 

 

Change the payroll to avoid paying commissions

The payment of bank commissions is one of the main concerns of almost everyone. They are the amounts that the bank charges you in exchange for the services it provides. Banks usually charge for a lot of concepts. Commissions are free, so each entity sets them as they see fit.

Not paying commissions is one of the main reasons for changing the bank payroll. That way you won’t have to worry about unexpected expenses and your life will be easier.

 

 

Change the bank payroll to have more ATMs

Since 2016, it is no longer networks like 4B, Serviced or Euro6000 that establish the commissions that are paid to use an ATM to withdraw money. Now it is the bank that owns the ATM that charges the entity that issues the card, and the entity that decides whether the commission has an impact on its customers.

This rule has caused an inconvenience to consumers that translates into the drop in the use of ATMs. The walks to the cashier have fallen by 0.36% in the first quarter of 2018 according to the data of the Bank of US, something that had never happened if we do not take into account the years of the crisis.

Many customers are forced to find friendly ATMs that do not charge commissions, with the inconvenience of wasting time. And if they don’t find them, they will have to face the payment of a commission just for disposing of their money.

Luckily, you can change the bank payroll to have more ATMs by choosing one that does not offer you free ATMs throughout the world. An easy and convenient way to dispose of your money freely.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Keyboard with key for payroll
There are two kinds of payroll software you can use in your business – standard and certified. Certified Payroll Software is used when contractors are government funded and public work construction projects are being paid.

A request for Certified Payroll Software may seem to be a problematic and confusing demand from any client. However, here is a short guide describing the basics of what you need to know.

Certified Payroll Software: What is it?

Certified payroll software is usually needed to maintain the payroll for workers of public work projects. In publicly funded projects, there is a requirement for contractors to pay their workers something that is called a prevailing wage. The contractors also have to make a proper payroll report which should show the exact wages that each worker was paid. 

Certified payroll software makes making such reports easy. A good example of a certified payroll software is QuickBooks Certified Payroll. Certified software works as a substitute for the WH-347 Federal Form. They will also work as a substitute to WH-348. WH-348 is the Statement of Compliance which is required after the submission of WH-347.

The following information is required on the WH-347 form:

  • A description regarding the project and the company
  • Name of the employee
  • Employee’s Social Security Number’s last four digits
  • The job classification of the employee
  • Employees’ work
  • The rate of pay for the employee in addition to any deductions and the net pay

Most of this information is already stored in a payroll software. This is the reason why it is easier to create a payroll report with a certified payroll software.

After the creation of the report, it needs to be printed and signed to certify accuracy. This is known as Statement of Compliance. The completion of these steps marks the successful creation of a certified payroll report.

There are certain misconceptions about reporting certified payroll including the fact that many believe they require a certification to become a payroll professional before being able to file a payroll report. However, that is not true.

There is another misconception about the standards and filing procedures for certified payroll being the same across the entire United States.

Regardless, you can use certified payroll software to be able to make and submit payroll reports easily.

QuickBooks and Intuit Online Payroll

QuickBooks Certified Payroll and Intuit Online Payroll are the best options available for making Certified Payroll Reports.

Intuit Online Payroll allows you to have all of the information relevant to creating a certified payroll report in one place. Intuit has a lot more to offer. Once you create the weekly payroll and time sheets, the software’s time tracking can be used to pay employees and workers.

Once you need a report, you just need to go to the “Reports” menu and click on the “More Payroll Reports in Excel” option under “Employees and Payroll”. You’ll see a button labeled “Certified Payroll Report”. From there, onward, you have to follow the on-screen instructions to get your report.

You can get Intuit Online Payroll at 3 different prices. The price is basically the sum of a base rate and per employee charge. The 3 packages are:

Basic: This the cheapest Intuit Online Payroll plan. You get the paycheck generation feature but do not get the payroll tax submission feature and you are unable to electronically file a W-2. This plan is priced at a base rate of $20 and $2 per employee every month.

Enhanced: This plan is one of the most used. You get all of the features of the basic plan plus other features including electronic W-2 form and payroll tax forms submissions. Being the most popular plan of Intuit Online Payroll, it is priced at a base rate of $31.20 plus a per employee rate of $2.

Full Service: This is one of the most innovative plans offered by Intuit. It provides an actual Intuit employee to handle your payroll related tasks. This plan also provides a guarantee against any kind of tax penalties which, if incurred, would be paid for by Intuit. The plan is priced at base rate of $79 plus a per employee rate of $2.

Other Certified Payroll Software are also available, such as:

  • Certified Payroll Solution- This is an add-on for QuickBooks.
  • Construction Partner- This is a bookkeeping alternative to QuickBooks but it costs a hefty $6000 and is particularly meant for large construction firms.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.


 

 

 

payroll software - Complete Controller

Many bookkeeping software solutions are more alike than they are different in terms of features. Standard components include overall ledger management, invoicing, and payment processing. Every association has different requirements and needs. They can be customized for their size, kind of employees and clients, and their particular industry. For these reasons, no system can proffer perfect functionality out-of-the-box. If you need a lifeline when it comes to processing payroll—and avoiding the feared delinquent payroll tax—not to worry. Plenty of small business owners struggle with those same problems: you’re not the only one. Check out these top-notch payroll-focused accounting tools listed below. Check out America's Best Bookkeepers

  1. WagePoint

WagePoint is a simple online payroll application designed for small businesses in North America. Managing payroll is essential for small and mid-sized companies, and WagePoint gets the work done quickly and easily. WagePoint can manage government remittances/reporting, direct deposits, and all year-end reporting for hourly and salaried workers. WagePoint is an intuitive, easy to use, web-based payroll software. It is perfect for small businesses seeking to pay their employees or contractors while remaining compliant with IRS regulations. It is an ideal app for companies in a wide range of industries.

Thousands of small businesses use WagePoint, and it offers an easy-to-use interface that allows establishments to set up the app in a few hours. The salesperson offers a service called “Switch It” – for businesses with more than ten employees, to help them switch over their existing payroll system to WagePoint. Check out America's Best Bookkeepers

  1. Gusto

Gusto (previously named ZenPayroll) is an entirely featured payroll, welfare administration, and compliance management platform. It has been designed to assist mainly small businesses. Gusto provides tools to manage core HR needs, such as time tracking, hiring, onboarding, and training, among others. With devoted online accounts, employees can fill out their details into the system and track all paperwork in one chief place. Companies can mechanize their payroll operations by scheduling payment and benefits release. Payments can be made via direct bank deposit or through check. The solution automatically delivers electronic payslips to an employee’s inbox upon completing the transaction.

Employees even choose to make charitable donations to their association of choice directly from their paychecks. The solution mechanically calculates, pays, and files a company’s local, state, and federal payroll taxes. Some of the supplementary features include custom reporting, multiple pay rates, numerous pay schedules, and third-party calendar integrations.

  1. SurePayroll

SurePayroll is a complete online payroll solution for every business. On top of that, SurePayroll has also created an administration platform in its payroll software called One-Click Payroll. It simplifies all of the procedures related to payroll in just a few seconds without bargaining accuracy and reliability. Check out America's Best Bookkeepers

The bookkeeping software comes with an interactive, customizable dashboard. Another highlight of the system is that it supports multiple payroll types and calculates and delivers payroll taxes. Many businesses choose SurePayroll to handle their payroll processes because of its extensive payroll-processing tools and unparalleled recordkeeping. SurePayroll is built to streamline the payroll process with its fantastic tools and excellent third-party integrations. It is a reliable option for any business looking to get software that will make payroll faster yet very accurate and reliable.

With SurePayroll accounting software, workers can quickly check their payroll information, including paychecks, vacation leaves, pay stubs, and more. They can also do all of these via their smartphones, tablets, and other mobile devices. The system also takes care of taxes by automating the processes while maintaining compliance with its payroll services. Customer support is also credible—the software fields knowledgeable and responsive support staff and easy to access the support center.

Conclusion

When choosing the best bookkeeping payroll software for your business, aside from key features, consider these other accounting aspects: ease of use, compatibility, integration, and security. More importantly, it would be best if you prefer a cloud-based software model.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Accounting Tools - Complete Controller

Many bookkeeping software solutions are more alike than they are different, in terms of features. Standard components include overall ledger management, invoicing, and payment processing. Every association has different requirements and needs. They can be customized for their size, kind of employees and clients, and the particular industry. For these reasons, no system can offer perfect functionality out-of-the-box. If you need a lifeline when it comes to processing payroll—and avoiding the feared delinquent payroll tax—not to worry. Plenty of small business owners struggle with those same problems: you’re not the only one. Check out these top-notch payroll-focused accounting tools listed below. Check out America's Best Bookkeepers

  1. WagePoint

WagePoint is a simple online payroll application designed for small businesses in North America. Managing payroll is essential for small and mid-sized companies, and WagePoint gets the work done quickly and easily. WagePoint can manage government remittances/reporting, direct deposits, and all year-end reporting for hourly and salaried workers. WagePoint is an intuitive, easy to use, web-based payroll software. It is perfect for small businesses seeking to pay their employees or contractors while remaining compliant with IRS regulations. It is an ideal app for companies in a wide range of industries.

Thousands of small businesses use WagePoint, and it offers an easy-to-use interface that allows establishments to set up the app in a few hours. The salesperson offers a service called “Switch It” – for businesses with more than ten employees, to help them switch over their existing payroll system to WagePoint. Check out America's Best Bookkeepers

  1. Gusto

Gusto (previously named ZenPayroll) is a completely featured payroll, welfare administration, and compliance management platform. It has been designed to assist mainly small businesses. Gusto provides tools to manage core HR needs, such as time tracking, hiring, onboarding, and training. With devoted online accounts, employees can fill out their details into the system and track all paperwork in one chief place. Companies can mechanize their payroll operations by scheduling payment and benefits release. Payments can be made via direct bank deposit or through check. The solution automatically delivers electronic payslips to an employee’s inbox upon completing the transaction.

Employees even choose to make charitable donations to their association of choice directly from their paychecks. The solution mechanically calculates, pays, and files a company’s local, state, and federal payroll taxes. Some of the additional features include custom reporting, multiple pay rates, multiple pay schedules, and third-party calendar integrations.

  1. SurePayroll

SurePayroll is a complete online payroll solution for every business. On top of that, SurePayroll has also created an administration platform in its payroll software called One-Click Payroll. It simplifies all of the procedures related to payroll in just a few seconds without bargaining accuracy and reliability. Check out America's Best Bookkeepers

The bookkeeping software comes with an interactive, customizable dashboard. Another highlight of the system is that it supports multiple payroll types and calculates and delivers payroll taxes. Many businesses choose SurePayroll to handle their payroll processes because of its extensive payroll-processing tools and unparalleled recordkeeping. SurePayroll is built to streamline the payroll process with its fantastic tools and excellent third-party integrations. It is a reliable option for any business looking to get software that will make payroll faster yet very accurate and reliable.

With SurePayroll accounting software, workers can quickly check their payroll information, including paychecks, vacation leaves, pay stubs, etc. They can also do all of these via their smartphones, tablets, and other mobile devices. The system also takes care of taxes by automating the processes while maintaining compliance with its payroll services. Customer support is also credible—the software fields knowledgeable and responsive support staff and easy access to the support center.

Conclusion

When choosing the best bookkeeping payroll software for your business, aside from critical features, consider these other accounting aspects: ease of use, compatibility, integration, and security. More importantly, it would be best if you prefer a cloud-based software model.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Payroll Options - Complete Controller

Bookkeeping software solutions are more alike than they are different, in terms of features. Standard components include overall ledger management, invoicing, and payment processing. Every business has different requirements and needs and can customize bookkeeping software for its size, types of employees and clients, and industry. For these reasons, no system can offer perfect functionality out-of-the-box. If you need a lifeline when it comes to processing payroll—and avoiding the feared late payroll tax, not worry. Plenty of small business owners struggle with those same problems: you’re not the only one. Check out these top-notch payroll-focused accounting tools listed below. Check out America's Best Bookkeepers

  1. WagePoint

WagePoint is a simple online payroll application designed for small businesses in North America. Managing payroll is essential for small and mid-sized companies, and WagePoint gets the work done quickly and easily. WagePoint can manage government remittances/reporting, direct deposits, and all year-end reporting for hourly and salaried workers. WagePoint is an intuitive, easy to use, web-based payroll software. It is perfect for small businesses seeking to pay their employees or contractors while remaining compliant with IRS regulations. It is an ideal app for companies in a wide range of industries.

Thousands of small businesses use WagePoint, and it offers an easy-to-use interface that allows establishments to set up the app in a few hours. The salesperson offers a service called “Switch It” – for businesses with more than ten employees, to help them switch over their existing payroll system to WagePoint. Check out America's Best Bookkeepers

  1. Gusto

Gusto (previously named ZenPayroll) is a featured payroll, welfare administration, and compliance management platform. It has been designed to assist mainly small businesses. Gusto provides tools to manage core HR needs, such as time tracking, hiring, onboarding, and training. With devoted online accounts, employees can fill out their details into the system and track all paperwork in one place. Companies can mechanize their payroll operations by scheduling payment and benefits release. These payments can be made via direct deposit or through check.

Employees even have the choice to make charitable donations to their association of choice directly from their paychecks. The solution mechanically calculates, pays, and files a company’s local, state, and federal payroll taxes. Some additional features include custom reporting, multiple pay rates, pay schedules, and third-party calendar integrations.

  1. SurePayroll

SurePayroll is a complete online payroll solution for every business. On top of that, SurePayroll has also created an administration platform in its payroll software called One-Click Payroll. It simplifies all of the procedures related to payroll in just a few seconds without bargaining accuracy and reliability. Check out America's Best Bookkeepers

The bookkeeping software comes with an interactive, customizable dashboard. Another highlight of the system is that it supports multiple payroll types and calculates and delivers payroll taxes. Many businesses choose SurePayroll to handle their payroll processes because of its extensive payroll-processing tools and unparalleled recordkeeping. SurePayroll is built to streamline the payroll process with its awesome tools and excellent third-party integrations. It is a reliable option for any business looking to get software that will make payroll faster yet very accurate and reliable.

With SurePayroll accounting software, workers can quickly check their payroll information, including paychecks, vacation leaves, pay stubs, and more. They can also do all of these via their smartphones, tablets, and other mobile devices. The system also takes care of taxes by automating the processes while maintaining compliance with the company’s payroll services. Customer support is also credible—the software fields knowledgeable and responsive support staff and easy to access the support center.

Conclusion

Aside from key features, when choosing the best bookkeeping payroll software for your business, consider these other accounting aspects: ease of use, compatibility, and integration, and security. More importantly, it would be best if you prefer a cloud-based software model.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
trouble with payroll - Complete Controller

Making payroll is perhaps the most important task in a business. If a business is running short on funds to meet payroll, the priority must be to secure funding from an alternate source. Here are five common payroll problems and how to solve them. Check out America's Best Bookkeepers

  1. Hiring Outperforms Incomes

Often small companies will experience rapid growth, and a business owner feels pressure to hire more employees. In some cases, a small business will not have had time to build up revenue to cover the added staff. The business owner must use the current working staff on the payroll to do better by coming up with smart strategies.  The expansion of staff should happen after the business has built enough steady income to meet payroll.

 

  1. Temporary Staff is Needed

If your business wins a project, and you need more staff to carry out the task before the deadline, you have to increase the payroll of your company. A temporary project also increases the expenses in a company. This is a common scenario in construction companies, landscapers, and designers. This process is predictable and calculable. You must know when to hire new staff, how to manage their payroll funding, when the revenue builds up, and how to overcome expenses until your revenue is generated. Prepare in advance and plan out the finances and other issues. You can take money out of the last season of your business or borrow money for the payroll funding until the next season yields revenue. Check out America's Best Bookkeepers

 

  1. Over Staffing

At start-up, business owners often hire more employees than are required. These owners can get in the habit of hiring staff for any new task that arises instead of dividing the work among the existing staff. Before hiring another team member, work on other options such as outsourcing contractors, finding automated ways for tasks to reduce the burden on the team, and reorganizing existing teams.

 

  1. Delayed Payments by the Customers or Discounts given to Customers

Many customers delay their payments. In a small business, if you are running short on income, quickly generate invoices and send them to customers immediately. This will minimize the delayed payments by your customers, to some extent.

Offer them discounts if the payment is made within a given time frame before the deadline. Always encourage your clients to pay quickly.

Use Invoice Factoring for typical slow-paying customers. Check out America's Best Bookkeepers

 

  1. Misconstruing Payroll Taxes

Carefully calculate the payroll taxes. Otherwise, IRS will send notice to you that you owe your employees money.

A taxpayer can request the IRS to make a negotiation on payroll taxes for small businesses and settle payroll taxes lesser than the full amount.

 

Conclusion

Payroll problems are a common issue in small business setups. If not carefully planned, the credibility of your business becomes uncertain due to payroll funding problems. Small business owners should strategically manage their payroll funding by avoiding common mistakes.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

Concept of no money

Timely inform employees:

Most entrepreneurs that are struggling are well aware of whether or not they will be able to make payrolls. But, due to embarrassment, they don’t inform their employees that they are not able to pay them. Experts recommend that, as soon as an employer comes to know that they cannot pay their employees, inform them immediately. Don’t handle the situation emotionally, be honest, and realistic. “What I have found in my consulting business is that, more often than not, small business owners are embarrassed and worried about results, so they typically handle [the situation] emotionally,” says Donald Todrin, founder of the Northhampton, MA-based Second Wind Consultants. “This usually means that they don’t tell anybody until 10 minutes before they’re supposed to get their checks.”

Once you have decided to notify employees, start from the upper management. From the seasoned employees to the new joiners. The top-down approach is adopted because the severity of the situation lessens when the news of no payments circulate from upper management to the lowest level.

Search resources for finances:

An employer is liable to many state and federal taxes if they are unable to pay employees. As soon as you come to know that you cannot make payroll, take a decisive and desperate action. Jump into the situation swiftly. Think of all the methods from where you can get the funds. These resources may be carrying out huge layoffs, swift solutions of the business modification for rapid liquidity, or, worse, closing entirely. If all of these plans fail, the owner is liable to penalties and fines. These fines are equal to fifty percent of the annual earnings. 

“Beg, borrow, or sell whatever you need in order to come up with the funds,” says Rod Jorgensen, the director of counseling at the Nevada Small Business Development Center. However, in light of recent restrictions on bank lending, gaining rapid access to cash via traditional bank loans, lines of credit, and mortgages is a thing of the past.

Utilization of the available resources:

Another method to pay employees without making payroll is to utilize all of the available resources. Theses available resources are the inventory and pending receivables. These are the immediate sources of funds. Liquidate the inventory or ask vendors to pay you receivables immediately on discount. You will be able to earn capital immediately and can pay employees.

Avoid confounding the payroll:

Some employers tend to a fraction instead of nothing at all. This method of staggering payments may not be applicable and practical in all states due to legal issues. Once you cannot pay employees, their efficiency decreases and they are likely to flee as soon as getting new employment. 

The other method recommended is reserving some of your most trusted employees the promise that you will pay them as soon as possible. Ask them if you can hold their paychecks for a few days in order to pay other employees timely. If they agree, you will be able to make on-time payments. 

Pay for labor immediately:

The U.S. Department of Labor states that all daily waged employees should be paid the full wage along with their overtime. Otherwise, the penalties and fines will be imposed according to the Fair Labor Standards Act.

If you unable to make payroll, manage to pay labor and daily waged workforce to avoid lawsuits.

Streamline your business:

Once you are able to come out of the crisis and have paid your employees, restructure your business. Necessary modifications are needed immediately to avoid this happening again. Make changes in the business model. Decrease your overhead expenses and restructure your operations. 

Employees are the asset of your business and you are cashing their hard work and honesty. Paychecks are the only source of livelihood and income for them. So, even at the time of crisis, you should be able to manage to pay off their checks so that they can survive. But, in return, they should be empathetic with you. This message should be conveyed to all of your employees.

Conclusion:

Not being able to pay your employees is a dire situation for a business owner but options like selling assets, borrowing money, or delaying some payments, may allow you to pay them, even in the worst of situations.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

payroll wiggle room - Complete Controller

Payroll is a term that indicates the number of employees in a company to be paid monthly by the company. The company needs money to pay salaries to its employees. Small business owners should strategically manage the funding and keep wiggle room in the company’s payroll.

Ways to Find Wiggle Room in your Payroll

Payroll problems are a common issue in small businesses. If not carefully planned, the credibility of a business becomes uncertain due to payroll funding problems. Small business owners should strategically manage payroll funding by avoiding common mistakes. If you are continually facing a payroll shortfall, then you should review your payroll schedule. Check out America's Best Bookkeepers

  1. Be on Time with your Payroll Processing

  • Late and incorrect processing

Payroll should be done correctly and punctually to evade discontent among employees. One of the most common mistakes with payroll is improper processing resulting in the salary that the employee collects being greater or lesser than what it should be. These errors generate interruptions since it will then need a redraft and is time-consuming. This causes delays, and it is crucial to be on time for payroll processing.

  • Inexperienced Staff

If you have an internal payroll department, you must give precise training so that your team can understand the intricacies of payroll processing. It is in your best interest to train your team, so any possible mistakes and chances of delay are reduced. Check out America's Best Bookkeepers

  • Utilize the Services of a Payroll Company

If you are continually facing payroll issues and don’t have a payroll department, to solve these issues, you may need to take your payroll outside of the company. A payroll company can free you from a lot of managerial loads and ensure accuracy and payroll deadlines. You will have to weigh the payroll issues against the cost of hiring a company to handle it before deciding to employ one.

  1. Direct Deposit vs. Physical Checks

The main motive for small businesses that pay their employees through direct deposit is to streamline the payment process for both the employee and the business owner. Direct deposit may be more complicated for some companies, and they may still opt to issue physical checks to your staff on payday.

Paper checks also buy time in some cases. You can give checks at the end of the day, and banks are usually closing at that time. Your employee will not be able to cash the check on the same day. This strategy can create a wiggle room in your payroll, as money will be withdrawn from your account on the following day. Some employees will not deposit checks for many days. But if your employees deposit the checks through ATMs or smartphone banking, then this trick will not help create wiggle room. Many banks provide the facility of ATM check deposits. Check out America's Best Bookkeepers

  1. Delay Other Expenses

The payroll should be on time. Delay in paying salaries to your employees will create issues for you and your employees – not only temporary issues, but it will also cause long-term effects with employees’ dissatisfaction in your business. It can damage a good relationship between you and your employees.

So, better to delay other expenses in your business, which can be dealt with at a later date than delaying payroll. For this, plan out in advance to check which payments can be made later. If you have made purchases and you have days in between to pay for that, then you can delay this payment. This will create a wiggle room on your payroll.

Conclusion

Small business owners can have a contract with payroll companies to ease their administrative work in payroll. They can also give a physical check to their employees. Certain expenses can also be delayed making a wiggle room in payroll.  While good bookkeeping will prevent you from having to even think about this, there are always options if you are willing to get a little creative.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers