small business « The Payroll Department

Posts Tagged small business

Financial Records Tracking for Small Business Success

Posted by Ariane on October 4, 2016

As a small business owner, do you have file folders filled with receipts for expenses and invoices that you haven’t inputted into an accounting system? Do you have people who owe you money, because you haven’t taken the time to invoice them? When you want to make a business purchase, how do you know if you will have sufficient funds to cover the cost? Keeping accurate financial records is a must if you want your small business to be successful. (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, financial tracking, opening a small business, payroll service, small business, unemployment taxes

Posted in: Bookkeeping and Accounting

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Mis-categorization and Generalization Can Throw Your Accounting Records into a Tizzy

Posted by Elaine on September 27, 2016

Small business owners and entrepreneurs have a reputation for being outliers, rebels and thinkers of a different sort. Many times that means they come up with some really great ideas and innovations, but it can also mean that they stumble into problems when it comes to general accounting practices. Some big idea people are extremely detail oriented and others can’t do a thing with details – and therein lies the problem. (more…)

Tags: accounting, benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Indiana, running a small business, small business, The Payroll Department

Posted in: Bookkeeping and Accounting

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The All Important Audit Trail: What Is It and Why You Need It

Posted by Ariane on September 13, 2016

Whether you own a large or small business, every business generates documents that record your company’s daily transactions. These records are important because they provide you with documentation to support your bookkeeping entries. Whether or not your small business is ever audited, it’s a must that you maintain a complete and accurate audit trail to manage your operations, detect fraud, and ensure compliance with government regulations. (more…)

Tags: audit trail, benefits of outsourcing, bookkeeping, Brownsburg, running a small business, small business, small business bookkeeping, The Payroll Department

Posted in: Bookkeeping and Accounting

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6 Reasons Your Business Needs Proper Bookkeeping

Posted by Ariane on August 23, 2016

Proper bookkeeping is an essential element for any size small business – larger or smaller. Unfortunately, many entrepreneurs often neglect this task in favor of growing and running their business, which is understandable. After all, you’re a business owner – not a bookkeeper. (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Quickbooks certified, small business, small business owners, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Why Small Businesses Lose at Tax Time

Posted by Elaine on August 16, 2016

It’s just a couple of bucks … That’s what busy small business owners say to themselves all the time when they stop to pick up envelopes or paper for their office. But it’s that mindset – and the lack of accounting that can be a big cost to their business in the end. While the expenses might not add up to be more than $50 or $100 a month, that can be $600 to $1,200 a year! And the cost … (more…)

Tags: accounting, benefits of outsourcing, bookkeeper, bookkeeping, business expenses, expenses, small business, small business accounting, The Payroll Department

Posted in: Bookkeeping and Accounting

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Bookkeeping Mistakes – Every Small Business Owner Makes Them

Posted by Elaine on July 26, 2016

My friend, Karen, has a boutique. She has been running the small business single-handedly for close to six years now, and she recently expanded to take over some additional space next door. The additional square footage has had a greater impact than she expected – and has created some real stress and most importantly, one humongous realization. (more…)

Tags: benefits of outsourcing, bookeeping service, bookkeeper, bookkeeping, Bookkeeping Department, bookkeeping errors, Grace Walker, outsourcing, small business

Posted in: Bookkeeping and Accounting, Operating a Small Business

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What Does FMLA Mean to Small Business Owners?

Posted by Gerilyn Davis on July 5, 2016

For those that may not be familiar with FMLA, it is the Family Medical Leave Act. In summary it allows employees to take a leave of absence for medically related purposes and family related medical incidents or procedures. There are several considerations to be made on whether an employer must honor the Family Medical Leave Act. The Family Medical Leave Act, according to the Department of Labor website, consists of the following: (more…)

Tags: employee benefits, employees, employers, Family Medical Leave Act, FMLA, small business, The Payroll Department

Posted in: Benefits and Health Care, HR Rules, Regulations and Laws, Human Resources

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Are You Keeping Your Small Business Accounts In Order?

Posted by Elaine on June 21, 2016

The truth always comes out at this time of year – right after small business owners file their tax returns. Unless a business owner has learned about accounting practices and knows the ins and outs of profit and loss statements and balance sheets, the language of business finance can be absolutely foreign. As a friend of mine often says, “I think they’re talking Pekingese.” (more…)

Tags: benefits of outsourcing, bookkeeper, bookkeeping, Grace Walker, Quickbooks, small business, The Payroll Department

Posted in: Bookkeeping and Accounting

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What Should I Consider If I Want to Make an Employee Salaried?

Posted by Gerilyn Davis on June 14, 2016

When a small business owner decides to take an employee to salaried status, the key to the transition is that it should be legal, as well as a win/win for both the organization and the employee. Salaried employment is becoming more and more of a hot topic considering there are significant changes being made in the workforce. (more…)

Tags: employees, employers, exempt vs. nonexempt employees, hourly employees, salaried employees, salaried vs. hourly, small business, small business payroll, The Payroll Department

Posted in: HR Rules, Regulations and Laws, Human Resources, Operating a Small Business, Staffing

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Employee Bonuses, Awards and Fringe Benefits: What Employers Need to Know

Posted by Ariane on June 7, 2016

Many small business owners (SBOs) think they don’t need to have a human resources or payroll department. They think they can handle all of the HR and payroll paperwork themselves. The problem is, not having a payroll department means these employers are taking on a considerable financial risk. (more…)

Tags: bonuses, employee bonuses, employee gifts, employees, employers, fringe benefits, payroll service, small business, The Payroll Department

Posted in: IRS and Tax forms, Payroll, Rules, Regulations and Laws

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