Whether you are a Business Owner, Finance Director, HR Specialist or Office Manager, there are certain terms relating to payroll that you should absolutely become familiar with. No matter what your level of involvement is with payroll at your company or organization, we’ve put together an alphabetical list of some of the most common terms that you should know. 1. Accrue – This means to build up or accumulate.  As part of a compensation package, many employers offer paid vacation, sick, and personal time.  There are many ways to provide this time.  Often employers choose to ..read more

Employees submitting a new W-4 can do so any time they have changes. Often, they’ll submit a new form when they know they’ll be changing exemptions, adjustments, deductions, or credits on their return. For example, an employee may want to increase their withholding by decreasing the number of dependents they claim. Or they might want to add dependents to decrease the amount withheld. Life events such as marriage, divorce, and childbirth are common reasons to update a W-4, but employees can generally change their withholding allowances at any time and for any reason. According to the IRS, emplo ..read more

From shrm.org: “The newest version of the Form I-9 was published by U.S. Citizenship and Immigration Services (USCIS) on July 17th, 2017. The form, used by employers to verify employment eligibility, will be mandatory beginning September 18th, 2017. “Employers will be able to use this revised version or continue using Form I-9 with a revision date of 11/14/16 N through September 17,” the agency said. “On September 18, employers must use the revised form with a revision date of 07/17/17 N.” Current storage and retention rules have not changed.” What You Should Know: Changes to the for ..read more

In today’s constantly changing and fast-paced workplace, it is recommended that all business owners revisit their employee handbooks every so often and consider updating them to reflect current trends. The idea that employee handbooks are just boring stacks of basic policies can unfortunately lead many businesses to become stagnant in their routines. Because of this, many forget to employ creative and strategic policies that can provide important benefits to the company. To avoid your handbook becoming outdated, consider focusing on at least the following policies: Employment Classification ..read more

There are many benefits of installing an automated time & attendance system within any organization. Improved accuracy of data, decreasing the burden of whoever oversees payroll and increased productivity among employees and staff to name a few. Most importantly though, automating your time & attendance system results in continuous cost savings for your company. Consider the following basic example: Doug is an employee that makes $11.00 an hour One day, he comes in and works from 9:04 – 4:56. When recording his hours on his time card for the day, he can’t recall exactly when he clocke ..read more

Believe it or not, there are over 2,000 different types of labor law posters in the United States. If you are a new business owner trying to figure out the ins and outs of making sure your company is following correct compliance procedures, one of the first things you should educate yourself on are labor law posters. In a nutshell, labor law posters explain employees’ rights and employers’ responsibilities. They provide information pertaining to wages, benefits, safety, discrimination and time off. There are several factors that determine which types of businesses need to display these posters ..read more

So you’ve filed your taxes and are patiently waiting for your refund check to arrive in the mail or for the money to be deposited into your account. If you’re anything like me, you hate clutter and paperwork to accumulate so you are thinking of shredding your W-2 and other documents you used to file your returns. Not so fast! Some of this paperwork is still very important and absolutely recommended that you keep around for a certain period of time. As we are now in the midst of tax season, the IRS has recently released some guidelines on how long you should keep your tax returns and what other ..read more

So you’re a small business owner or HR professional that has determined your current payroll provider isn’t meeting your needs and requirements in order to continue your relationship with them and are ready to make a change. You have done your research and due diligence and have decided which payroll company you are ready to switch over to. The question now is what information will your new payroll company need in order for them to set your business up for payroll? Being a payroll sales consultant, it is important to have a system in place in order to make the conversion process as seamle ..read more

For four consecutive years now (2013-2016), The Payroll Factory® has been recognized by the Main Line Media News as offering the “Best Payroll Services” in its annual Reader’s Choice Awards. It is a tremendous honor to be recognized as the best local payroll company by our clients, CPA’s and the local community as a whole. Being one of dozens of other payroll services in the Philadelphia area, The Payroll Factory® has continuously stood out from the rest by offering the best in personalized service and pricing. These types of awards and positive feedback are just a few of the reasons why The P ..read more

As of March 31, 2016, The Payroll Factory® has achieved third party validation under the SSAE-16 Type I certification. What does this mean? SSAE-16, a widely recognized auditing standard established by the American Institute of Certified Public Accountants (AICPA), is the authoritative guidance demonstrating that The Payroll Factory® has undergone an independent in-depth audit, including testing of The Payroll Factory®’s control activities over its payroll services. SSAE-16 continued endorsement helps provide credible proof to The Payroll Factory® customers that their critical data ..read more