Business Owners Reveal Their Most Cringeworthy Payroll Mistakes
Flex HR’s Senior Manager of Payroll Operations, Julie Brown talked with Business.org regarding the impact of Payroll mistakes. It is highly unlikely that you have never had a problem with an employee’s paycheck or even a glitch in your own paycheck.
Julie explains how not being up to date on employment regulations can pose a huge problem. “Failure to keep up to date with new HR and Payroll laws can result in fines, penalties and, in some cases, legal proceedings. Non-compliance can also affect the reputation of a company, so knowledge of these laws is a key requirement for any organization.” Therefore, it is so important to hire a trustworthy and knowledgeable HR company, such as Flex HR, to complete organization’s payroll.
13 additional small business owners share their stories and other payroll mistakes:
- Forgetting about taxes
- Paying taxes at the wrong rate
- Missing deadlines
- Not reporting correctly
- Not keeping physical copies of payroll reports
- Not being organized
- Complying with garnishments
- Not keeping records long enough
- Misclassification of employees
- Using paper timesheets
- Depending entirely on software
- Forgetting about fees
- Not considering how raises may impact the business
Read the entire article for more details of the Business.org article.