Business

CHOOSING PAYROLL SOFTWARE

Published

1 year ago

March 3, 2022

mcrgy

CHOOSING PAYROLL SOFTWARE

If you’re ready to choose the right online payroll software for your small business, here are the steps to get started.

1. Determine Your Business’s Needs

When choosing an online payroll service for your small business, there are several factors to consider. For most companies, the budget will play a big role in figuring out which provider to go with. What can your organization afford to spend on payroll processing and assorted services? What features can you live without and which are absolute necessities?

Weigh your different priorities. Is next-day deposit important to you? Is it more vital than other functions? Does your business need a platform that includes additional HR services? Make a list of everything you want your payroll software to help you accomplish so you can look for providers that meet your company’s needs.

2. Research Potential Vendors

Once you know what specific features you’re looking for in a payroll software provider, you can compile a list of potential vendors. From there, you can review the features each vendor offers and get a sense of where each one stands out or falls short. Compare each system against your list of desired functions, and remove from consideration the platforms that don’t align.

Once you’ve narrowed your list down to just a couple of options, it can help to schedule demos with these providers. During a demo, you can see how the software works and ask the sales team pertinent questions. For instance, can you run payroll as often as you want each month? Does the package come with a mobile app and an employee self-service portal? You should also evaluate how intuitive and easy it is to use the program. The platform’s interface should be simple to understand and allow you to run payroll in a matter of minutes.

Make sure you fully comprehend how the provider’s pricing works and what you can expect to spend each month. For instance, many payroll providers charge a base fee along with an additional per-employee fee. What structure do they use? And be sure to ask if there are any setup charges or fees for additional payroll runs.

Finally, you should look into what kind of customer service the company provides. How is the payroll provider rated by the Better Business Bureau, and how many customer complaints are there? Is there phone, email and chat support, or are you limited to just one of those options? The answers to these questions should further narrow down your prospects.

3. Make Your Selection

After you’ve weighed the pros and cons of each provider, you can identify your top options and begin the sign-up process with your most preferred vendor. See if you can negotiate the price, and always ask if any discounts are available. Once you’ve chosen the software that’s best for your business, you can move forward with the setup phase.

ADVANTAGES OF PAYROLL SOFTWARE

Here are some of the biggest advantages of using payroll software.

Increased efficiency: Using a comprehensive payroll platform means you don’t have to hire someone in-house to handle all of your business’s payroll needs.
High ease of use: The software does most of the heavy lifting for you. It calculates pay amounts, withholds the proper deductions and automatically distributes payments based on the method chosen.
Ensured tax compliance: Payroll companies also take care of tax filings and payments for you, ensuring you meet your legal obligations. Most offer a tax guarantee, so if the payroll service makes a mistake when filing or paying your taxes, it will fix the problem and pay any fines you incur.
Reduced expenses: The best payroll software can save your company money by streamlining tax preparation. It can also help you cut costs by running more accurate payrolls and, if you go entirely digital, eliminating the need for paper documents.
Reliable processing: Payroll software is the most reliable way you can run payroll each week. If you set up automatic payroll, it will run without you having to do anything. But even if you choose to operate it manually, the system can still send you reminders each week. This ensures employees are paid accurately and on time.
Wide accessibility: If your payroll software has a self-service app, employees can easily access any details they need. All they have to do is log in to the app to see their pay stubs, W-2s and direct deposit information. Similarly, you’ll be able to monitor payroll while on the go.

FREQUENTLY ASKED QUESTIONS

Here are answers to some of the most common questions about payroll software and services.

What is online payroll software?

Online payroll software, also known as online payroll services, is cloud-based software you can use to process payroll and onboard new employees. Most online payroll software is easy to use and allows you to run payroll in minutes.

What is unique about comprehensive payroll companies?

What’s unique about comprehensive payroll companies is that in addition to managing your business’s payroll, they also handle your company’s payroll taxes, manage employees’ paid time off, provide new-hire reporting and facilitate workers’ compensation insurance. They may also offer HR management, benefits administration, time and attendance services, and 401(k) programs. [Learn about taxable fringe benefits and how they relate to wages.]

Why are payroll services important for small businesses?

Payroll services are important for small businesses because most small companies don’t have a dedicated HR team that knows the ins and outs of running payroll. Instead, they can rely on payroll companies to manage these tasks for them. These services ensure employees are paid correctly each month and that payroll taxes are filed. By outsourcing these tasks, business owners can save money and time.

How do you set up payroll software?

To set up payroll software, you’ll start by connecting your business’s bank account to your payroll platform of choice and entering your employees’ pay rates and withholding information. Employees who want to be paid by direct deposit can enter their banking information in the system’s online portal. Once this information has been submitted, you can set your pay schedule and start processing payroll based on each team member’s pay rate and hours worked.

Do payroll service providers offer mobile applications?

Yes. Most payroll service providers offer mobile applications for iOS and Android devices. These apps typically allow administrators to run payroll, review past payroll runs and pay payroll taxes. Additionally, employees may be able to use the mobile apps to review their pay stubs, pay history and PTO accruals.

How long does it take to process payroll?

How long it takes to process payroll varies by provider, but many payroll services complete the process within two days. This means payroll administrators need to submit their final payroll numbers two days before payday.

Are there any free payroll software solutions?

There are several free payroll software solutions, which may be useful for businesses that are just getting started. Free payroll software can help you manage payroll taxes, wage garnishments and benefits deductions. However, when using a free service, you may have to sacrifice other valuable features, like dedicated customer support.

Tip: You can hire a certified public accountant (CPA) if you need help managing the collection and reporting aspects of payroll processing. Accountants can analyze your payroll and provide valuable guidance for your business.

What are unpaid payroll tax penalties?

Unpaid payroll tax penalties apply when an employer fails to pay the Internal Revenue Service the proper amount of payroll tax funds it owes. Failure to complete Form 941 or to provide proper documentation, like W-2s or 1099s, is another possible issue that could lead to penalties. To avoid fines, you need to ensure your payroll taxes are paid on time in the correct amount and that your company has filed all the required paperwork.

What is an example of a payroll tax?

An example of payroll tax is the Federal Insurance Contributions Act (FICA) tax. This is a mandatory payroll deduction that employers pay to the IRS to cover Social Security retirement benefits and Medicare for employees.

What is a pay period?

A pay period is the recurring length of time during which an employee’s wages are calculated for payment. Pay periods can be weekly, biweekly, semimonthly or monthly. To choose the best pay schedule for your business, weigh the pros and cons of each option.

Business

What Companies Are in the Consumer Services Field?

Published

4 days ago

March 18, 2023

mcrgy

What Companies Are in the Consumer Services Field?

The consumer services field is a large and diverse industry. It includes companies that are involved in retail trade, the media, food distribution, and services ranging from healthcare to finance to hospitality. These companies rely on technology to provide the best possible experience for consumers. They need technology professionals to implement digital transitions, pick the right software and tools, and conduct training.

Walt Disney Company

The Walt Disney Company (Disney) is a multinational media and entertainment conglomerate. It operates broadcast and cable television networks; domestic radio stations; and theme parks, resorts, and hotels. The company also produces live-action and animated movies; direct-to-video content; musical recordings; and live stage plays. Its media network includes ABC, ESPN, and Disney Channel. The company also owns the Disneyland resort and hotel in California. It has several subsidiaries and is headquartered in Burbank, California. The company is best known for its films and theme parks, including the merchandising of the characters Mickey Mouse and his friends.

Amazon

Amazon is a multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The company also offers several subscription services. The company is known for its innovative and user-friendly interface which has made it the preferred choice of many customers worldwide. It is also known for its customer service and quality products. It is a leading online marketplace that provides a platform to its third-party sellers for displaying and selling their products. These merchants sell their products at competitive prices and earn commissions from each sale. It also collects fees from these merchants for storing and packaging their products for sale on Amazon.

Carnival Corporation & plc

Carnival Corporation & plc is the largest cruise vacation group in the world with nine global brands providing great vacation experiences. Based on its relentless commitment to exceeding guests’ expectations, its nine cruise line brands deliver extraordinary vacations at an exceptional value.

It operates a fleet of more than 90 ships visiting over 700 ports worldwide under normal operating conditions. The company’s Cruise Line, Princess Cruises, Holland America Line, Seabourn, AIDA Cruises, Costa Cruises, P&O Cruises (Australia), and Cunard line brands together historically host nearly 13 million annual passengers. The company operates a dual listed company (“DLC”) arrangement whereby the businesses of Carnival Corporation and Carnival plc are combined through several contracts and provisions in their Articles of Incorporation and By-Laws and Articles of Association. The shares of both companies are listed on the New York Stock Exchange for Carnival Corporation and the London Stock Exchange for Carnival plc.

For more: businesstechtime.com

ExxonMobil

ExxonMobil, which was formed by the merger of the two oil companies Exxon and Mobil in 1999, is an American multinational corporation engaged in the exploration, production, refining, and marketing of crude oil and natural gas. It is one of the largest companies in the world and has a market value of more than $1.5 trillion.

In addition to its oil and gas operations, ExxonMobil manufactures a range of products and services including chemicals, lubricants, fertilizers, plastics, pharmaceuticals, and fuel additives. ExxonMobil has known for years that the burning of fossil fuels was causing climate change and that it would cause severe economic harm, yet it has spent decades refusing to acknowledge this and spreading misinformation. The company has been accused of using similar tactics as the tobacco industry to spread doubt about climate science.

Tangerine Bank

Tangerine Bank is one of Canada’s leading digital banks, offering simplified everyday banking to its Clients. It offers banking that’s flexible and accessible, innovative products, fair fees, and award-winning Client service. Tangerine has chequing and savings accounts, credit cards, mortgages, lines of credit, RSPs, and investment funds. These accounts offer several benefits, including a mobile app and free Interact e-Transfers. In addition, you can deposit your money into a Tangerine Bank GIC, which comes with low rates. You can also open a Tangerine Money-Back Credit Card, which earns 2% cash back on purchases in two categories (or three categories if you use your Tangerine Savings Account to make direct deposits), and 0.5% cash back on everything else.

Business

How Renting Fitness Equipment Can Help You Achieve Your Health Goals

Published

1 week ago

March 14, 2023

mcrgy

How Renting Fitness Equipment Can Help You Achieve Your Health Goals

It’s no secret that regular exercise is essential for leading a healthy lifestyle. However, many people struggle to find the time or motivation to make it a priority. One solution to this problem is to rent fitness equipment for use at home. In this article, we’ll explore the benefits of renting fitness equipment and how it can help you achieve your health goals.

Bike on Rent

One of the most popular pieces of fitness equipment is a Bike on Rent. This is because cycling is a low-impact form of exercise that can improve cardiovascular health and increase endurance. By renting a bike, you can enjoy the benefits of cycling without the high cost of purchasing your own equipment. Additionally, renting a bike allows you to try out different models to find the one that suits your needs and preferences.

Fitness Equipment on Rent

Of course, bikes are not the only type of Fitness Equipment on Rent. Treadmills, elliptical machines, and weight training equipment are also available for rent. These machines provide a wide range of exercise options to help you achieve your health goals. Whether you’re looking to burn fat, build muscle, or improve your overall fitness, there’s a piece of equipment that can help you achieve your goals.

Benefits of Renting Fitness Equipment

Renting fitness equipment has many advantages over buying your own. Firstly, it’s much more affordable. Purchasing your own equipment can be expensive, and you may not have the funds to buy everything you need. By renting equipment, you can pay a smaller amount each month and still get access to high-quality equipment.

Secondly, renting allows you to try out different types of equipment without committing to a purchase. If you buy a piece of equipment and later find that it doesn’t suit your needs, you’re stuck with it. When you rent, you can easily switch to a different machine if you find that you’re not getting the results you want.

Another benefit of renting fitness equipment is that it allows you to exercise at home. Going to a gym can be time-consuming and expensive, especially if you have to pay for a membership. With your own equipment at home, you can work out whenever you have the time and without the need for extra fees.

Renting fitness equipment also provides you with the opportunity to set and achieve your health goals. When you have equipment at home, it’s easier to stick to a routine and make exercise a part of your daily life. With consistent exercise, you can improve your overall health, reduce the risk of chronic diseases, and feel better both physically and mentally.

Conclusion

In summary, renting fitness equipment is an affordable and convenient way to achieve your health goals. Whether you’re looking to improve your cardiovascular health, build muscle, or lose weight, there’s a piece of equipment that can help you achieve your goals. By renting, you can enjoy the benefits of exercise without the high cost of purchasing your own equipment. So, if you’re looking for a way to make exercise a part of your daily life, consider renting fitness equipment today.

Business

Powerful Flashlights: Luminous Intensity, Lumen, and Lux

Published

2 weeks ago

March 9, 2023

mcrgy

Introduction

Flashlights are an essential tool for many activities, such as outdoor camping, hiking, and hunting. When choosing a flashlight, it’s important to understand the measurements used to quantify its brightness and range. Luminous intensity, lumen, and lux are the key measurements used to describe the brightness and range of a flashlight. In this article, we’ll explore these terms and their relationships to one another, with a focus on Imalent’s powerful flashlights, the SR32 and MS18.

What is Luminous Intensity?

Luminous intensity apply to the amount of light emitted from a light source in a particular direction. It is measured in units of candela (cd). A candela is defined as the luminous intensity, in a certain direction, of a source that emits monochromatic radiation of frequency 540 terahertz and that produces a radiant intensity in that direction of 1/683 watt per steradian.

What is Lumen?

Lumen applies to the measurement of the entire amount of light emitted by a source of light, regardless of direction. It is measured in units of lumens (lm). One lumen is equal to the amount of light emitted by a source that emits monochromatic radiation of frequency 540 terahertz and that produces a radiant intensity in that exact direction of 1/683 watt per steradian.

What is Lux?

Lux is a measure of the amount of illumination that falls on a surface per unit area. It is measured in units of lux (lx). One lux is equal to one lumen per square meter. Lux can be used to describe the illumination of a surface, such as a desk or a room.

The Relationship between Lux and Lumen

Lux and lumen are related by the distance between the light source and the surface being illuminated. The farther the distance, the lower the lux level, even if the lumen output remains constant. Conversely, the closer the distance, the higher the lux level. This relationship is important when selecting a flashlight, as it can impact the effective range of the beam.

The Relationship between Luminous Intensity and Lumen

Luminous intensity and lumen are related, but not interchangeable. Luminous intensity measures the amount of projected to a particular direction, while lumen measures the total amount of light emitted. A flashlight with high luminous intensity can have a lower total lumen output than a flashlight with lower luminous intensity.

The Formula for Calculating Luminous Flux

Luminous flux is considered as a total amount of light emitted by a light source, measured in lumens. The formula for calculating luminous flux is:

Luminous Flux (lm) = Luminous Intensity (cd) x Solid Angle (sr)

Imalent’s Powerful Flashlights: SR32 and MS18

Imalent offers two powerful flashlights, the SR32 and MS18, which demonstrate the importance of luminous intensity, lumen, and lux in flashlight selection.

SR32

The Imalent SR32 is a super bright, high-candela, long-range flashlight with an output of 1,092,000 cd and 120,000 lumens. The SR32 has a maximum beam range of 2080 meters. Its high luminous intensity allows for a long-range beam with a narrow spotlight, making it ideal for search and rescue missions, outdoor exploration, and hunting.

MS18

The Imalent MS18 is a powerful floodlight with an output of 100,000 lumens and a maximum beam distance of 1350 meters, making it one of the brightest and most versatile flashlights on the market. Its high lumen output and wide beam angle make it ideal for outdoor activities, camping, and emergency situations where a bright floodlight is essential. The MS18 is also incredibly durable and features a waterproof and impact-resistant design, ensuring it can withstand even the toughest environments.

Conclusion

In conclusion, understanding the concepts of luminous intensity, lumens, and lux is crucial when purchasing a flashlight. A high-candela flashlight is ideal for long-range spotting, while a high-lumen flashlight is best for floodlighting. It’s important to note that a flashlight with a high lumen output doesn’t necessarily mean it has a high candela output, and vice versa.

When choosing a flashlight, consider the beam distance, beam intensity, and beam angle to determine the best option for your needs.

Imalent offers a range of powerful flashlights, including the SR32 and MS18, which boast impressive luminous intensity and lumen outputs. These flashlights are perfect for outdoor activities, search and rescue missions, and other situations where a bright, long-range light is necessary.

With Imalent, you can be assured of a quality, durable flashlight that will provide you with reliable illumination when you need it most.