Payroll processing mistakes your startup needs to avoid

Mistakes happen every day in the business world, and some are more forgivable than others. Payroll isn't on the list of forgivable mistakes.Why? Payroll mistakes can be incredibly costly to your startup. Failing to comply to payroll laws gets the government involved which leads to penalties and fines. In the most extreme cases, it can even lead to jail time.What's more, when you mess up payroll, your startup's team can lose faith in you, and you may even lose staff members.To help you avoid cost...
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5 key areas for startups to outsource

You're ready to launch your startup, and you know you need employees.Does the task seem overwhelming? Recruiting, hiring and training employees is an intimidating task for even the most seasoned businesses. What's more, you may not have the finances you need in the beginning to provide a salary, benefits and even office space and equipment for an entire team. This is where outsourcing comes in.Outsourcing is a terrific way for startups to take care of essential functions when your budget is smal...
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What startups need to know about payroll accounting

So you've opened your doors, you've hired your first round of employees, and now you need to pay them.While payroll may seem like an easy task, it's full of twists and turns that can trip up even seasoned bookkeepers.Here is what startups need to know about payroll accounting to ensure it's done accurately and in a timely manner.Decide pay datesYour first step is to set up your payroll.It's a safe bet that your employees want to know for certain when their paycheck is coming.You have several cho...
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Benefits of outsourcing payroll for startups

Did you know that business consultants often recommend outsourcing non-core functions?A non-core function is one that isn't part of your profit center. It's something you don't charge your customers for. While a non-core function is often essential to your successful operation, it isn't what sets you apart from the competition, so it can be outsourced.It's also of the utmost importance to your staff.Payroll is a non-core function and one you should certainly think about outsourcing.To help you m...
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8 common payroll problems to avoid

Payroll is much more than just paying your employees their salary or hours worked.When it comes to payroll, it encompasses not only wages but deductions such as taxes and social security as well as health insurance and more.Payroll can be difficult for some startups, so today we look at eight common payroll problems to avoid.  #1: Setting it up incorrectlyPayroll is complicated, especially where taxes are concerned.Not only are taxes a vital part of payroll, but they are difficult to unders...
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