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Your “Corporate Back-Office” News Page

 


 

The Benefits of Outsourcing Your Payroll

Want to grow your business faster? Start outsourcing your most tedious back-office tasks.

By Sujan Patel Co-founder, Web Profits@sujanpatel

Payroll is an essential part of your business, much like sales, customer service, and even content marketing. It's not just a twice-monthly annoyance or a bookkeeping task. Payroll is how you reward and retain employees, compensating them for the work they've done. When there are errors due to miscalculation, you'll wind up with dissatisfied, unmotivated employees.

Calculation errors are not the only concern, however. There are hundreds of tax codes and payroll regulations that you need to understand. A payroll mistake with any one of these items can be costly:

Classification of employees and contractors

  • W-2 forms
  • Tax deposit and filing deadlines
  • Overtime payments
  • State unemployment taxes
  • Garnishments and levies
  • Taxable items

And that's just to name a few. In 2013, the Internal Revenue Service issued 6.8 million penalties, totaling $4.5 billion related to employment taxes alone. The penalties aren't surprising when you consider that some 40% of small business owners don't use an accountant at all.

 

"There are so many little rules for a small business owner to stay on top of," says David McKelvey, a tax and business consulting partner at New York-based accounting firm Friedman LLP...[Read More]

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As we finish out 2020 and prepare for the new year, this is an opportune time to review business processes and look for ways to simplify and improve operations.

This may be a good time to take advantage of better time & attendance solutions.  CORBAK offers mobile phone app-based time & attendance solutions with geofencing.  This service allows managers to save time and effort spent figuring out if employees clock in and out at the right location. Geofencing makes it plain to see if they did. Simply draw a geofence around each site and assign employees to them. Color-coded pins on a filtered map view make outliers obvious.

Benefits of Geofencing

Easy clock in/out

Employees use the CORBAK-provided mobile app to clock in and out. You see their GPS location and position relative to the geofence.

Easily spot out-of-bounds punches

Geofencing identifies employees who clock in or out beyond their workplace boundaries.

Manager Notification by Exception

Managers receive a notification only if a punch occurs outside the fence. This focuses attention on non-compliance.

GeoSmart Time Card

Managers see at a glance which employees clocked in with a GPS position, and whether the position was inside the geofence. Color-coded pins on each time card make it easy to spot problem punches. Click the pin to see that punch in relation to the geofence.

Printable Geofencing Reports

Managers can view and print reports that show visually all the punches for a particular employee or group in relation to the geofence. This report documents compliance or variance with clock policies.

Edge Hedge

Punches at the edge of the geofence count as inside the fence. This provides a margin of error for GPS accuracy. Unlimited Geofences Draw as many geofences as you need. Assign individuals or groups to each geofence. Start tracking.

GPS Tracking Flexibility

For employees who are not assigned a geofence, you can continue to collect GPS location.

 

For more information, call us today (912.525.2400)

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