ASAP Payroll BLOG
Payroll Tax Deferral
With COVID-19 continuing to wreak havoc on businesses of all sizes and individuals nationwide, the U.S. government is searching for ways to provide additional relief to employers. In an effort to help alleviate the negative effects of the coronavirus, President Trump issued multiple executive orders on August 8, 2020. One, in particular, relates to ...
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Ramifications of Buddy Punching and How to Avoid It
Nearly three-quarters of U.S. small businesses are affected annually by “time theft” or buddy punching—when a coworker clocks in or out for someone else. Whether it’s a quick favor or a more serious abuse of the system, buddy punching can lead to thousands of dollars in lost revenue. What Is Buddy Punching? Buddy punching occurs ...
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Why Should a Small Business Outsource Their Payroll?
You started your company and it’s now thriving. As it grows, will you be adding add human resources staff to manage your payroll and other HR responsibilities? How about hiring legal teams to withstand errors or stand up against litigation you might face? Or have you considering outsourcing your payroll needs to free-up your employees ...
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Tracking the Health of Your Business Through a General Ledger
The General Ledger—How it Works A general ledger account is an account or record that’s used to sort, store, and summarize your company’s transactions. It’s the lifeblood of your business and provides a report of how healthy it is. General ledger categories include asset accounts, namely cash, accounts receivable (legally enforceable claims for payment ...
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Demystifying Employee vs. Independent Contractor
An employee and independent contractor (self-employed) may do comparable work for your company; however, there are distinct differences between the two. Whether you employ one or both classifications, you need to clearly understand the legal distinctions between them. An employee works exclusively for a single company and will be compensated on a salaried or ...
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Small Business and ACA Compliance
Defining Small Business We’re all familiar with the term “small business.” Under this umbrella, the Small Business Administration (SBA) states there are 27 million small businesses in the U.S.; but, depending on who’s using the term, it has different meanings. As mentioned, the SBA defines “small business” as any actively operating company with 500 or ...
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7 Ways an Applicant Tracking System Can Save You Time
Is it time to start enjoying the Applicant Tracking System benefits that your business is
Maximizing Employee Satisfaction with Flexible Spending and Health Savings Accounts
Companies have to get more creative and aggressive in today’s job market to attract and
Labor Law Posting Requirements for Illinois Employers
Illinois employees must post certain federal and state employment law posters where employees and applicants
Labor Law Posting Requirements for Ohio Employers
Ohio has a complex set of requirements for employment law posters to ensure the employer
Ohio Minimum Wage & Overtime Salary Requirements
Employers are required to navigate incredibly complicated wage and hour laws. As an example, it’s