Tag: payroll

What Is the Sarbanes-Oxley Act (SOX)?

Remember Enron? WorldCom? Tyco? These accounting fraud cases shook investor confidence and spawned a new era: one in which there are tighter regulations that address financial oversight for corporations. In the wake of these scandals, U.S. Congress responded by enacting the Sarbanes-Oxley Act (SOX) in 2002.

What are Your Legal Obligations Related to Payroll Administration?

For any business that hires employees, it’s important to understand the legal obligations related to processing payroll. Typically, an employer is free to set up its own system of payroll administration and can choose the frequency of pay as well as the day of the week that is the designated pay day. However, there are […]

Ask the Expert: Is Our Time Clock ‘Rounding’ Practice OK?

We have time clocks that rounds to 7 minutes before or after the hour. If an employee clocks in 8 minutes late, the time is recorded as 15 minutes after the hour so the employee is losing 15 minutes of time. If an employee clocks in 15 minutes early then the time is recorded as […]

Compensation Administration: Why Make It Formal?

Not every company has a formal name for it, but every organization that hires employees has to have an idea of what they’re willing and able to pay those employees. Pay and benefits may be determined ad hoc in many organizations, but there are actually a lot of benefits to creating a more formal structure […]

Paycheck Pitfalls – What’s in Their Wallet?

A couple of years ago, a group of employees working for a McDonald’s franchise filed a class action lawsuit in Pennsylvania alleging their employer required them to accept wages in the form of payroll debit cards—with fees for use of the cards assessed by the debit card provider.

Infographic: What Are the Top HR Challenges?

Meeting corporate objectives and getting/remaining compliant are the top HR priorities this year, according to a recent survey. The BLR® survey, sponsored by NetSpend®, asked over 800 HR professionals about their everyday challenges on the job. This new infographic offers highlights from the results, with a spotlight on payroll systems. You can download the full […]

Steve Jobs, ‘product guys’ and ‘sales guys,’ and your payroll

I have a complicated relationship with thick biographies. Intellectually, I know I should sit there and wade my way through the thick prose devoted to men and women of great consequence. In a way, it’s like broccoli: “Go on, eat it – it’ll be good for you, and what do you mean, ‘I’m not hungry’?”  […]

2014 Minimum Wage Increases Loom in More than a Dozen States

Annual minimum wage increases kick in on Jan. 1, 2014, giving employers in many states just a few short weeks to get payroll practices in order before new minimum wage requirements take effect. As of press time, minimum wages in 14 states are slated to increase in 2014. Most are effective Jan. 1, but at […]

Changes to West Virginia wage payment act go into effect today

by Susan Llewellyn Deniker Amendments to the West Virginia Wage Payment and Collection Act (WPCA) go into effect today, changing the rules on when discharged employees must be given their final paycheck. Under the old law, discharged employees had to be paid all wages owed within 72 hours of termination. This year, the legislature amended […]