{"id":2617,"date":"2019-07-23T15:40:20","date_gmt":"2019-07-23T20:40:20","guid":{"rendered":"https:\/\/www.employco.com\/blog\/?p=2617"},"modified":"2019-07-23T15:40:20","modified_gmt":"2019-07-23T20:40:20","slug":"the-top-five-payroll-pitfalls","status":"publish","type":"post","link":"https:\/\/www.employco.com\/blog\/2019\/07\/23\/the-top-five-payroll-pitfalls\/","title":{"rendered":"The Top Five Payroll Pitfalls"},"content":{"rendered":"

Employment trends expert explains how to circumvent common payroll problems<\/em><\/p>\n

\"Payroll\"Payroll errors cost your company more than just time and money, they also gravely harm the trust between you and your employees.<\/p>\n

\u201cWhen payroll makes an error, even a small one, it can make a major impact on the employee\u2019s personal life,\u201d says Rob Wilson, President of Employco USA and human resources expert. \u201cThey may feel as though their effort isn\u2019t respected or valued by their employer, and it can lead to very costly and pervasive issues like absenteeism and presenteeism.\u201d<\/p>\n

Wilson\u2019s employment solutions firm, Employco USA, helps companies of all sizes with their payroll. \u201cWe work with companies who still take the old-school approach of handwritten timesheets and we work with companies who do everything electronically,\u201d he says. \u201cMany of our clients come to us after they have experienced expensive errors from doing payroll on their own. While it is possible to submit your own payroll via Quickbooks and other technology, outsourcing payroll can be a wise move especially as our political landscape continues shifting and requirements are changing.\u201d<\/p>\n

Here, Wilson outlines the top 5 mistakes which he has seen negatively impact companies\u2019 payroll.<\/p>\n

Lack of compliance with state and federal regulations<\/strong>. \u201cKeeping up with the reciprocal agreements between states is really important, yet I have seen clients neglect this issue or be confused about how to approach it,\u201d says Wilson. \u201cFor example, if you have an employee who lives in Indiana but works in Illinois, you need to consider which state takes precedent when it comes to payroll taxes.\u201d<\/p>\n

<\/p>\n

Late filings.<\/strong> \u201cFiling late can be a risky move,\u201d says Wilson. \u201cIf you send in your payroll taxes late, it is going to red-flag you to the IRS. They will think \u2018Hmm, let\u2019s look at what else is going on here,\u2019 and suddenly your company may be looking at an audit all because you sent in your filings a week late.\u201d<\/p>\n

Angering the unions. <\/strong>\u201cWhen it comes to paying the union, you have to make sure that your company dots every i and crosses every t,\u201d says Wilson. \u201cThere is no grace period there. Even if the power goes out or you have technical issues with your bank, your union employees have to be paid on time and correctly.\u201d<\/p>\n

Void and Reissues.<\/strong> \u201cIf mistakes are made, they need to be rectified as soon as possible, but void and reissues can be complicated,\u201d says Wilson. \u201cFor example, if a worker forgets to turn in a day of hours or their time is otherwise incorrectly tabulated, it can be very impactful. If they\u2019re union, submitting the wrong hours could make them ineligible for health insurance the following month.\u201d<\/p>\n

Taxing expenses.<\/strong> \u201cWhether we are looking at union agreements as it relates to parking costs, or taxation on relocation expenses, you have to check with multiple bureaucratic entities to make sure that you\u2019re applying the correct taxes on these common expenses.\u201d<\/p>\n

For more on this topic, please contact Rob Wilson at\u00a0rwilson@thewilsoncompanies.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Employment trends expert explains how to circumvent common payroll problems Payroll errors cost your company more than just time and money, they also gravely harm the trust between you and your employees. \u201cWhen payroll makes an error, even a small… <\/p>\n

Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-2617","post","type-post","status-publish","format-standard","hentry","category-payroll-administration"],"featured_image_src":null,"author_info":{"display_name":"Employco USA","author_link":"https:\/\/www.employco.com\/blog\/author\/employcousa\/"},"yoast_head":"\r\nThe Top Five Payroll Pitfalls - Employco Blog<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.employco.com\/blog\/2019\/07\/23\/the-top-five-payroll-pitfalls\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"The Top Five Payroll Pitfalls - 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