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Keyboard with key for payroll
There are two kinds of payroll software you can use in your business – standard and certified. Certified Payroll Software is used when contractors are government funded and public work construction projects are being paid.

A request for Certified Payroll Software may seem to be a problematic and confusing demand from any client. However, here is a short guide describing the basics of what you need to know.

Certified Payroll Software: What is it?

Certified payroll software is usually needed to maintain the payroll for workers of public work projects. In publicly funded projects, there is a requirement for contractors to pay their workers something that is called a prevailing wage. The contractors also have to make a proper payroll report which should show the exact wages that each worker was paid. 

Certified payroll software makes making such reports easy. A good example of a certified payroll software is QuickBooks Certified Payroll. Certified software works as a substitute for the WH-347 Federal Form. They will also work as a substitute to WH-348. WH-348 is the Statement of Compliance which is required after the submission of WH-347.

The following information is required on the WH-347 form:

  • A description regarding the project and the company
  • Name of the employee
  • Employee’s Social Security Number’s last four digits
  • The job classification of the employee
  • Employees’ work
  • The rate of pay for the employee in addition to any deductions and the net pay

Most of this information is already stored in a payroll software. This is the reason why it is easier to create a payroll report with a certified payroll software.

After the creation of the report, it needs to be printed and signed to certify accuracy. This is known as Statement of Compliance. The completion of these steps marks the successful creation of a certified payroll report.

There are certain misconceptions about reporting certified payroll including the fact that many believe they require a certification to become a payroll professional before being able to file a payroll report. However, that is not true.

There is another misconception about the standards and filing procedures for certified payroll being the same across the entire United States.

Regardless, you can use certified payroll software to be able to make and submit payroll reports easily.

QuickBooks and Intuit Online Payroll

QuickBooks Certified Payroll and Intuit Online Payroll are the best options available for making Certified Payroll Reports.

Intuit Online Payroll allows you to have all of the information relevant to creating a certified payroll report in one place. Intuit has a lot more to offer. Once you create the weekly payroll and time sheets, the software’s time tracking can be used to pay employees and workers.

Once you need a report, you just need to go to the “Reports” menu and click on the “More Payroll Reports in Excel” option under “Employees and Payroll”. You’ll see a button labeled “Certified Payroll Report”. From there, onward, you have to follow the on-screen instructions to get your report.

You can get Intuit Online Payroll at 3 different prices. The price is basically the sum of a base rate and per employee charge. The 3 packages are:

Basic: This the cheapest Intuit Online Payroll plan. You get the paycheck generation feature but do not get the payroll tax submission feature and you are unable to electronically file a W-2. This plan is priced at a base rate of $20 and $2 per employee every month.

Enhanced: This plan is one of the most used. You get all of the features of the basic plan plus other features including electronic W-2 form and payroll tax forms submissions. Being the most popular plan of Intuit Online Payroll, it is priced at a base rate of $31.20 plus a per employee rate of $2.

Full Service: This is one of the most innovative plans offered by Intuit. It provides an actual Intuit employee to handle your payroll related tasks. This plan also provides a guarantee against any kind of tax penalties which, if incurred, would be paid for by Intuit. The plan is priced at base rate of $79 plus a per employee rate of $2.

Other Certified Payroll Software are also available, such as:

  • Certified Payroll Solution- This is an add-on for QuickBooks.
  • Construction Partner- This is a bookkeeping alternative to QuickBooks but it costs a hefty $6000 and is particularly meant for large construction firms.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.


 

 

 

Close-up Photo Of Businesswoman Hand Giving Cheque
Many bookkeeping software solutions are more alike than they are different, in terms of features. Standard components include overall ledger management, invoicing, and payment processing. Every association has different requirements and needs. They can be customized for their size, kind of employees and clients, and the particular industry they are in. For these reasons, no system can proffer perfect functionality out-of-the-box. If you need a lifeline when it comes to processing payroll—and avoiding the feared late payroll tax—not to worry. Plenty of small business owners struggle with those exact same problems: you’re not the only one. Check out these top-notch payroll-focused accounting tools listed below.

1. WagePoint

WagePoint is a simple online payroll application designed for small businesses in North America. Managing payroll is important for small and mid-sized companies and WagePoint gets the work done quickly and easily. WagePoint can manage government remittances/reporting, direct deposits, and all year-end reporting for both hourly and salaried workers. WagePoint is an instinctive, easy to use, web-based payroll software. It is perfect for small businesses seeking to pay their employees or contractors while remaining compliant with IRS regulations. It is an ideal app for companies in a wide range of industries.

WagePoint is used by thousands of small businesses and it offers an easy-to-use interface that allows establishments to set up the app in a few hours. The salesperson offers a service called “Switch It” – for businesses with more than ten employees, to help them switch over their existing payroll system to WagePoint.

2. Gusto

Gusto (previously named ZenPayroll) is a completely featured payroll, welfare administration, and compliance management platform. It has been designed to assist mainly small businesses. Gusto provides tools to manage core HR needs such as time tracking, hiring, onboarding, and training, among others. With devoted online accounts, employees can fill out their personal details into the system and track all paperwork in one chief place. Companies can mechanize their payroll operations by scheduling payment and benefits release. Payments can be made via direct bank deposit or through check. The solution automatically delivers electronic pay slips to an employee’s inbox upon completing the transaction.

Employees even have the choice to make charitable donations to their association of choice, directly from their paychecks. The solution mechanically calculates, pays, and files a company’s local, state, and federal payroll taxes. Some of the supplementary features include custom reporting, multiple pay rates, multiple pay schedules, and third-party calendar integrations.

3. SurePayroll

SurePayroll is a complete online payroll solution for every business. On top of that, SurePayroll has also created an administration platform in its payroll software called One-Click Payroll. It simplifies all of the procedures related to payroll in just a few seconds without bargaining accuracy and reliability.

The bookkeeping software comes with an interactive, customizable dashboard. Another highlight of the system is that it supports multiple payroll types and calculates and delivers payroll taxes. Many businesses choose SurePayroll to handle their payroll processes because of its extensive set of payroll-processing tools and unparalleled recordkeeping. SurePayroll is built to streamline the payroll process with its awesome tools and excellent third-party integrations. It is a solid option for any business that is looking to get software that will make payroll faster yet very accurate and reliable.

With SurePayroll accounting software, workers can easily check their payroll information, including paychecks, vacation leaves, pay stubs, and more. They can also do all of these via their smartphones, tablets, and other mobile devices. The system also takes care of taxes by automating the processes while maintaining compliancy with the company’s payroll services. Customer support is also credible. The software fields knowledgeable and responsive support staff as well as an easy to access support center.

Conclusion

Aside from key features, when choosing the best bookkeeping payroll software for your business, consider these other accounting aspects: ease of use, compatibility and integration, and security. More importantly, you should prefer a cloud-based software model.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Payroll, Office Binder on Wooden Desk. On the table colored pencils, pen, notebook paper
Payroll is a very important issue for a company/business. If the business is running short on funds, the payroll finances must be arranged to pay for its employees. Payroll problems often occur when you hire employees on temporary contracts for a project.

Payroll funding permits your company to finance invoices and assets so that it can make payroll.

To fulfill an urgent requirement of payroll funding, you can borrow money or take small loans to fund the payrolls. If the amount is small, the money can be paid using small business lines of credit.

Payroll errors are harmful to a company’s reputation.

5 COMMON PAYROLL PROBLEMS AND THEIR SOLUTION

 

  1. HIRING OUT PERFORMS INCOMES

When a small company is performing outclass, generating revenues and net profit is increasing, the business owner often hires more resources earlier than actually needed. The small business owner feels the pressure of their workload and quickly responds to the demand for more work by employing new people. It often happens in small businesses when the revenue will take time to build to an extent to keep up with more payroll but an employee is given the job anyway. The small business owner must utilize the current working staff on the payroll to perform better by coming up with smart strategies.

If you want to grow your payroll before the revenue builds up, your business must have cash savings to cover the increase in payroll. Otherwise, the business can dissolve. You can use cash from the last business season to overcome payroll problems.

 

  1. TEMPORARY STAFF IS NEEDED

If your business wins a project and you need more staff to accomplish the task before the deadline, you have to increase the payroll of your company. A temporary project also increases the expenses in a company. This is a common scenario in construction companies, landscapers, and designers. Construction businesses often outsource their employees depending upon the complexity of projects. This process is predictable and calculable. You must know when to hire new staff, how to manage their payroll funding, when the revenue will build up, and how to overcome expenses until your revenue is generated. Prepare in advance and plan out the finances and other issues. You can take money out of the last season of your business or borrow money for the payroll funding until the next season yields revenue.

 

  1. OVER STAFFING

Small business owners have to manage a lot of business operations. Especially, at the start of business, many small business owners hire more employees than are actually required. Extra payroll funding has a negative effect on small business income and growth. 

Small business owners can often have a bad habit of hiring new staff for any new task that arises instead of dividing it among it’s existing staff. This creates a huge issue of payroll funding for the staff if the business runs slow.

Before hiring another team member, work on other options like outsourcing contractors, finding automated ways for various tasks to reduce burden on the team, and reorganizing teams.

 

  1. DELAYED PAYMENTS BY THE CUSTOMERS OR DISCOUNTS GIVEN TO CUSTOMERS

Many customers delay their payments. In a small business, if you are running short on income, quickly generate invoices and send them to customers immediately. This will minimize the delayed payments by your customers, to some extent.

Offer them discounts if the payment is made within a given time frame before the deadline. Always encourage your clients to pay quickly.

Use Invoice Factoring for typical slow paying customers.

 

  1. MISCONSTRUING PAYROLL TAXES

Carefully calculate the payroll taxes. Otherwise, IRS will send notice to you that you owe your employees money.

A taxpayer can request the IRS to make a negotiation on payroll taxes for a small business and settle payroll taxes lesser than the full amount.

 

CONCLUSION

Payroll problems are a common issue in small business setups. If not properly planned, the credibility of your business becomes uncertain due to payroll funding problems. Small business owners should strategically manage their payroll funding by avoiding common mistakes.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Concept of no money

Timely inform employees:

Most entrepreneurs that are struggling are well aware of whether or not they will be able to make payrolls. But, due to embarrassment, they don’t inform their employees that they are not able to pay them. Experts recommend that, as soon as an employer comes to know that they cannot pay their employees, inform them immediately. Don’t handle the situation emotionally, be honest, and realistic. “What I have found in my consulting business is that, more often than not, small business owners are embarrassed and worried about results, so they typically handle [the situation] emotionally,” says Donald Todrin, founder of the Northhampton, MA-based Second Wind Consultants. “This usually means that they don’t tell anybody until 10 minutes before they’re supposed to get their checks.”

Once you have decided to notify employees, start from the upper management. From the seasoned employees to the new joiners. The top-down approach is adopted because the severity of the situation lessens when the news of no payments circulate from upper management to the lowest level.

Search resources for finances:

An employer is liable to many state and federal taxes if they are unable to pay employees. As soon as you come to know that you cannot make payroll, take a decisive and desperate action. Jump into the situation swiftly. Think of all the methods from where you can get the funds. These resources may be carrying out huge layoffs, swift solutions of the business modification for rapid liquidity, or, worse, closing entirely. If all of these plans fail, the owner is liable to penalties and fines. These fines are equal to fifty percent of the annual earnings. 

“Beg, borrow, or sell whatever you need in order to come up with the funds,” says Rod Jorgensen, the director of counseling at the Nevada Small Business Development Center. However, in light of recent restrictions on bank lending, gaining rapid access to cash via traditional bank loans, lines of credit, and mortgages is a thing of the past.

Utilization of the available resources:

Another method to pay employees without making payroll is to utilize all of the available resources. Theses available resources are the inventory and pending receivables. These are the immediate sources of funds. Liquidate the inventory or ask vendors to pay you receivables immediately on discount. You will be able to earn capital immediately and can pay employees.

Avoid confounding the payroll:

Some employers tend to a fraction instead of nothing at all. This method of staggering payments may not be applicable and practical in all states due to legal issues. Once you cannot pay employees, their efficiency decreases and they are likely to flee as soon as getting new employment. 

The other method recommended is reserving some of your most trusted employees the promise that you will pay them as soon as possible. Ask them if you can hold their paychecks for a few days in order to pay other employees timely. If they agree, you will be able to make on-time payments. 

Pay for labor immediately:

The U.S. Department of Labor states that all daily waged employees should be paid the full wage along with their overtime. Otherwise, the penalties and fines will be imposed according to the Fair Labor Standards Act.

If you unable to make payroll, manage to pay labor and daily waged workforce to avoid lawsuits.

Streamline your business:

Once you are able to come out of the crisis and have paid your employees, restructure your business. Necessary modifications are needed immediately to avoid this happening again. Make changes in the business model. Decrease your overhead expenses and restructure your operations. 

Employees are the asset of your business and you are cashing their hard work and honesty. Paychecks are the only source of livelihood and income for them. So, even at the time of crisis, you should be able to manage to pay off their checks so that they can survive. But, in return, they should be empathetic with you. This message should be conveyed to all of your employees.

Conclusion:

Not being able to pay your employees is a dire situation for a business owner but options like selling assets, borrowing money, or delaying some payments, may allow you to pay them, even in the worst of situations.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

Close-up Of Businessman Hands Giving Cheque To Other Person In Office
Payroll is a term that indicates the number of employees in a company to be paid monthly by the company. The company needs money to pay salary to its employees. Small business owners should strategically manage the payroll funding and keep wiggle room in the company’s payroll.

WAYS TO FIND WIGGLE ROOM IN YOUR PAYROLL

Payroll problems are a common issue in small business setups. If not properly planned, the credibility of a business becomes uncertain due to payroll funding problems. Small business owners should strategically manage the payroll funding by avoiding common mistakes.

If you are constantly facing a payroll shortfall, then you should review your payroll schedule.

  1. Be on Time with your Payroll Processing

  • Late and incorrect processing

Payroll should be done correctly and punctually to evade discontent among employees. One of the most common blunders with payroll is improper processing where the closing salary that the employee collects can be greater or lesser than what it should be. These errors generate disturbances since it will then need a redraft and is very time-consuming. Also, it is crucial to be on time for payroll processing.

  • Inexperienced Staff

If you have an internal payroll handling section, it is vital that you give precise training so that your team has the essential capability to grip the intricacies of payroll processing. It is in your best interest to give training to your team so any possible mistakes and chances of delay are reduced.

  • Utilize The Services Of A Payroll Company

If you are constantly facing payroll hitches, finding an answer to the problem becomes easier if you start to work it backwards. First of all, you must know when you truly require the payroll funds present in your account. The solution might not be as clear as you think it is.

Many small business employers use the facilities of a payroll company. A payroll company can free you from a lot of managerial loads. Using the assistance of a payroll company depends on the density of your payroll needs. Payroll companies facilitate in your business administrative works.

  1. Direct Deposit vs Physical Checks

The main motive for small businesses that pay their employees through straight payment is the suitability to the employee and reduced managerial responsibilities for the small business owner. For many small businesses, swiftness and ease are the chief apprehensions. But if it is a difficult and unmanageable task for you to manage payroll on time and you do not have enough staff, then it is better to give physical checks to your staff on payday.

You can give checks at the end of the day and banks are usually closing at that time. Your employee will not be able to cash the check on the same day. This strategy can create a wiggle room in your payroll as money will be withdrawn from your account on the next day. Some employees will not deposit checks for many days. But if the checks are deposited by your employees through ATM machines or smartphone banking, then this trick will not be helpful in creating wiggle room. Many banks provide the facility of ATM check deposits.

  1. Delay Other Expenses

Payroll should be on time. Delay in paying salaries to your employees will create issues for you and your employees – not only temporary issues, it will cause long-term effects with employees’ dissatisfaction in your business. It can damage a good relationship between you and your employees.

So, better to delay other expenses in your business which can be dealt with at a later date than delaying payroll. For this, plan out in advance to check which payments can be made later. If you have made purchases and you have days in between to pay for that, then you can delay this payment. This will create a wiggle room on your payroll.

CONCLUSION

Small business owners can have a contract with payroll companies to ease their administrative work in payroll. They can also give a physical check to their employees. Certain expenses can also be delayed to make a wiggle room in payroll.  While good bookkeeping will prevent you from having to even think about this, there are always options if you are willing to get a little creative.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.