All government contractors must adhere to a set of guidelines regarding proper financial management. These guidelines, which include employee time tracking, are required by the United States government to ensure accuracy and verity. Timesheets.com is DCAA compliant!
HR, Payroll, and Employee Management Tips for Small Business Posts
Years ago I knew an entrepreneur in the construction industry who needed some serious help organizing his life and business. I remember seeing stacks and stacks of paper on the two desks in his office. I tried helping him sort through his papers and found bills months overdue, threatening letters, outdated offers – important papers amidst countless unimportant ones. The filing cabinets in the home office were mostly empty but for a few old and irrelevant records; the trucks were out on the roads uninsured, unregistered, or both; the mortgage payments on his two houses were not even covering interest.
A lot has to line up for a person to be successful. There must a good deal of intelligence, talent (which might just mean a lifetime of hard work), confidence, and time management. Articles could be written on any of these traits so in effort to avoid playing down importance of any important factor, let’s just focus on time management and how to get better at it.
Payroll is a big job and it takes a lot of training to get it right. If you do it yourself, you have to be very careful. You must be sure that the correct taxes are withheld from your employee’s paychecks, the wages and bonuses are correctly calculated, the correct taxes are paid, that wage and hour laws are followed, and that your employees get paid on time.
Outsourcing payroll is the the best option for most small businesses.
When hiring a new employee, an employer can either hire him as an independent contractor or as an employee. There are pros and cons to either choice and there are strict rules governing the decision too.
Keeping track of the time employees spend on specific projects can help a manager determine the value of a given task and narrow down the effective use of an employee’s time. The following are some of the ways project tracking can do this.
All of us at Timesheets.com are saddened by the devastating earthquake that took place last week in Haiti. The extent of losses in and around Port au Prince are staggering and will cost many millions to repair. The families who suffered losses will need much assistance both emotionally and monetarily.
Monitoring estimated payroll throughout the pay period is important to many small business owners. Seeing that your employees are working the hours required to get the job done is essential for peace of mind. You can do this and more with Timesheets.com!
There are several other situations in which employers must closely monitor accumulated hours:
As with any new routine, employees may find it difficult to remember to clock in and out. They may even rebel against it for a while. Thankfully, time will usually solve the problem but here are some tips to facilitate this process.
We get calls all the time from our customers who want help setting up “custom” overtime rules. I have heard a gamut of creative “overtime policies” and, while having secondary or even tertiary pay rates is great employee incentive, employers must understand that there are Federal laws governing overtime.