ASAP Payroll BLOG
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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PPP Loan Forgiveness
The Payment Protection Program (PPP) Flexibility Act of 2020 was designed to modify certain provisions related to loan forgiveness under the paycheck protection program. It lets recipients defer payroll taxes and other business-related expenses. In other words, the program helps relieve small businesses and their employees from the economic impact of COVID-19. As of ...
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Applicant Tracking Systems
Attracting and retaining skilled workers has grown exponentially more challenging, according to Manpower Group (www.gomanpowergroup.com, with 54% of companies globally reporting talent shortages—the highest level in over a decade. And, the U.S. Bureau of Labor claims there are 670,000 more job openings than unemployed potential workers (based on statistics prior to the 2020 coronavirus). Applicant ...
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Instituting Paperless Payroll
In today’s “fast-food” world, convenience is mandatory. It’s no different when it comes to paying your employees. As a result, payroll cards are a fast-growing option to more traditional forms of payroll payment, such as paper checks and bank direct deposit. Plus, failing to offer payroll alternatives can result in your company running ...
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What are Some Unexpected Benefits of Working Remotely?
When the pandemic forced companies all over the world to send their employees home to
Benefits of a Single Database HCM System
A Human Capital Management system (or HCM for short) is a powerful tool that businesses
A Quick Checklist for Employee Onboarding in Indiana
All employers hiring in Indiana, and hoping to stay on the right side of the
Payroll Tax Deferral
With COVID-19 continuing to wreak havoc on businesses of all sizes and individuals nationwide,
Payroll, HR and Onboarding Basics for Your First Employee
Hiring an employee for your new business is an exciting prospect that signifies your business