Categories
Finance

Get a Better Handle on Things by Upgrading Payroll

The world of payroll processing has entered the 21st century thanks to cloud technology, integrated payroll solutions, and third-party payroll providers that offer a full range of solutions for clients in nearly every sector. If there was ever a time to upgrade payroll from in-house legacy systems to modern cloud-based solutions, it is now.

Many small businesses still handling payroll in-house are relying on outdated legacy systems. While such systems may seem adequate, they are really not when compared to state-of-the-art payroll in the cloud. In fact, the average employer now just getting by with a legacy system could get a better handle on things by upgrading.

BenefitMall, a Dallas-based provider of payroll processing and benefits administration, explains that moving payroll into the cloud with a fully integrated solution is more efficient, more cost-effective, and more than capable of greatly reducing costly mistakes. They recommend cloud-based payroll processing for companies of all sizes.

Clean Up Those Mistakes

Cloud-based payroll does a lot of great things for employers. As just one example, a quality solution that integrates payroll processing with time and attendance tracking can easily reduce the number of mistakes made by the payroll department. As an example of how important this is, consider what the Nigerian government discovered when they upgraded their payroll system.

The police in Nigeria are all organized under the central government. Prior to the payroll upgrade, the number of police officers on Nigeria’s payroll was believed to be in the neighborhood of 371,000. Following the upgrade, it was discovered that the Nigerian government employs 80,000 fewer police officers than previously thought. Over the years, they had been paying billions in salary and benefits to ‘ghost police officers’ who were not really employed.

This is certainly an extreme example, but it illustrates the point. Legacy payroll systems are prone to not utilizing correct information. And when information is incorrect, it can cost employers a lot of money. It can also result in compliance issues. The fact is that cleaning up the mistakes is one of the most important reasons for upgrading payroll.

Comply with the Law

Second only to cleaning up the mistakes is complying with the law. If you follow business news, you are probably aware that the first of the year almost always brings with it changes in the law that directly affect payroll processing, employee wages, benefits, etc. And more often than not, those changes make payroll more complicated.

Just this year we saw the implementation of the GOP tax overhaul that resulted in tax cuts for most workers. But because the IRS did not have adequate time to come up with new tables, employers were left scrambling. They had to figure out how much to withhold for payroll taxes even without updated tables from the IRS.

Those tables were eventually released, but it took some time. What’s more, employers are still waiting on an updated W-4 and guidance as to who needs to fill out and submit one this year.

Even a relatively minor change in the law can leave employers scrambling to maintain compliance. Imagine multiple changes at both the federal and state levels in a given tax year. Whenever the government changes the rules, it is up to payroll departments to figure them out in a timely fashion.

Indeed, companies just hanging on with legacy payroll systems have lots of reasons to upgrade their payroll to a cloud-based, technologically-driven solution that reduces mistakes and increases compliance. If your company struggles with payroll, get a better handle on things by upgrading to a cloud-based service.

Categories
Investment

Best ways to invest in the stock market with less money

Stock trading has become one of the most attractive investment for the people over the years. The real-time profit and opportunity to become garner a huge amount of money in no time alluring more and more investors every day. However not everyone able to successfully convert their investment a good profit. Like any other business, the share market also requires some preparation and knowledge. If you are among the beginners looking there a way to step in the share market here are the Best ways to invest in the stock market with less money. To know more about the strategies requires becoming a real master of share market and latest trend in stock trading.

  1. Get a stockbroker account

The best way to learn something is to really be doing it, similarly, you need to enter the share market to learn about it. Open broker accounts for yourself to familiar with the process and structure of the market. You will get to the know the offers for clients and how stocks are being exchanged. Use free websites and tools for the broker account and keep a regular eye on the trading system. Visit

2, Read Books Regularly

The second good option for knowing every in and out of the share market more precisely. The books are the best option to curate the beneficial information about what you are looking for. However, most of us ignore the books, try to read more financial books or the business leaders for knowing the mantras of share market. Most of the business leaders have shared secrets and strategies in the books they published.

  1. Search the Web

The internet is the most intelligent and profitable inventions done by humans, use it to make a fortune for yourself. The internet is full of share market rules and ways how you can optimize your investment. Read the related articles every day, you will learn the best way for investing your money in a profit guaranteed place.

  1. Get a Mentor for Yourself

Having an instructor or teacher that will guide through the best ways while investing in the share market is necessary. Without having a proper knowledge you end up losing all your savings in the share market. Find a real mentor who understands the share market and uses his or her experience to guide you. All the successful businesses and investors were led by their respective mentor in there initial days. It is big risk rushing into the stock trading without any mentor who can save yours from making mistakes.

  1. Attend Seminars and Discussions

Another alternative to get the practical knowledge about the market directly listing from the people who have been in the field for years. There are regular stock market seminars and public discussion where experts and beginners like you interact with Q&A. This will certainly help you in exploring the creative methods for investing smartly in the stocks and shares that no one ever told you.

  1. Follow the Current Popular Investors

This may seem like you like another day thing you do by following the Hollywood stars and sports celebrity. But believe me, the business leaders like Warren Buffett talks differently and they use social media for real good. You may find some tip to share market every day with these leaders. Try to look for more market experts they may not be much popular but you will get to know something very helpful. These experts and leaders look at the market in reading to them regularly will change your perception help you in becoming better at understanding the industry.