Estimating the Last Few Days of the Pay Period Isn’t a Good Idea

634598_83855040Co-authored with Danielle Feiger

You’d almost be surprised that an employer would recognize the value in tracking accurate time (it saves a lot of money on payroll costs) and then, at the end of every pay period, estimate the hours for the last few days.

But it’s actually a fairly common practice, though not a very good one. Continue reading

Closing Payroll Early to Cover Holidays

Money suitcaseDid you know that businesses are supposed to follow regular payroll schedules? Businesses who don’t can get into big trouble so listen up if you’re new to this.

Employers can’t just pay their employees whenever they get paid from their clients and they can’t postpone payroll because they ran into a big expense. Nope. Employees must be paid in a timely manner, all the time. This means that a business should have some reserve for payroll because when the unexpected happens, employees still need to be paid.
Continue reading