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Will You Add? - How Your Business Can Save $6500 per Year
Whilst it is clear that not everyone is destined to own and run a business and certainly there are a lot of budding entrepreneurs entering the world of business today. Effort, energy, attitude, skill and knowledge are all factors that govern, at least to some degree your ability to own and run an efficient and highly profitable business. Another factor that can impact on the degree of business success that you experience is – Feng Shui.Feng Shui is the force that is said to be able to influence your destiny. It is able to modify the standard and level of your success. And th
When it comes to gaining comprehensive business support, an increasing number of companies are moving to serviced offices as their solution. So, why is this a growing trend?Serviced offices provide a resourceful approach to business which, in many respects, exceeds conventional offices. As an extension of your company, a serviced office will cater to your firm's unique needs and adapt according to your changing circumstances - whether this involves start-up processes, growth and development, new locations or individual project support.What exactly do you get with a se
When businesses are small, traditional practice is to use some sort of manual time keeping system to log employee hours. Each employee fills out a paper time sheet, the payroll administrator goes over the time sheets, cuts the checks, handles the deductions and government paperwork, and deals with requests for time off, overtime and vacation days.
As businesses grow and add employees, this manual system becomes more and more cumbersome. The steps to automation start out small – an automated punch clock and pre-printed time cards, and a rapid switch from manual time keeping to using a spreadsheet.
But even this level of automation requires manual re-keying of data, and as the number of employees grows, the more demanding the needs are for your time and attendance and payroll systems. A lot of businesses end up “trapped” with a legacy system, usually cobbled together out of several different parts, perhaps even with custom programming in the mix.
Payroll accounting is a repetitive and aggravating task which takes up valuable administrative personnel who could be serving your business in other revenue generating capacities. Even with all the automated steps described above, payroll calculation errors account for nearly 10 billion dollars in assessed fees and lawsuits annually in the United States alone. Some estimates say that one in four employers make regular and hab
What is the risk?Key control, or more accurately the lack of key control is one of the biggest risks that businesses or property owners face.Without a key control system you cannot be sure who has keys or how many keys they have to your property. Not having a patent controlled key system leads to unauthorized key duplication, which leads to unauthorized access to your property or employee theft.Most key control systems utilize patented keys and or cylinders, these lock cylinders employ very precise locking systems that can only be operated by the unique keys to
As businesses grow and add employees, this manual system becomes more and more cumbersome. The steps to automation start out small – an automated punch clock and pre-printed time cards, and a rapid switch from manual time keeping to using a spreadsheet.
But even this level of automation requires manual re-keying of data, and as the number of employees grows, the more demanding the needs are for your time and attendance and payroll systems. A lot of businesses end up “trapped” with a legacy system, usually cobbled together out of several different parts, perhaps even with custom programming in the mix.
Payroll accounting is a repetitive and aggravating task which takes up valuable administrative personnel who could be serving your business in other revenue generating capacities. Even with all the automated steps described above, payroll calculation errors account for nearly 10 billion dollars in assessed fees and lawsuits annually in the United States alone. Some estimates say that one in four employers make regular and ha
MOVING GUIDEA tentative final bill of local moves is estimated using a simple formula:(Number of movers + truck) x number of hours = final priceEstimating moves is an inexact science. Many variables factor into how long a move will take. A professional estimator uses his experience from doing similar moves in order to figure out how many hours the move will require. His estimate includes the amount of time that will pass from the moment the truck first leaves the mover's garage until it returns after the job is finished. He will then add in the cost of boxes, t
But even this level of automation requires manual re-keying of data, and as the number of employees grows, the more demanding the needs are for your time and attendance and payroll systems. A lot of businesses end up “trapped” with a legacy system, usually cobbled together out of several different parts, perhaps even with custom programming in the mix.
Payroll accounting is a repetitive and aggravating task which takes up valuable administrative personnel who could be serving your business in other revenue generating capacities. Even with all the automated steps described above, payroll calculation errors account for nearly 10 billion dollars in assessed fees and lawsuits annually in the United States alone. Some estimates say that one in four employers make regular and ha
When selling a business your main aim is for you to get the best deal possible, to increase the chances of this happening preparation will be required. You will need to adopt a structured approach to marketing your business, you will also need to use sound negotiation techniques. Here are some things to consider;Why are you selling? – You need to convince people the reason you are selling the business is genuine, otherwise prospective buyers may believe there is a problem with the business.Timing – You need to choose the right time to sell, there are many factors that
Payroll accounting is a repetitive and aggravating task which takes up valuable administrative personnel who could be serving your business in other revenue generating capacities. Even with all the automated steps described above, payroll calculation errors account for nearly 10 billion dollars in assessed fees and lawsuits annually in the United States alone. Some estimates say that one in four employers make regular and ha
Okay so I do a lot of research; have traveled afar and obviously I have something to say. Ah; “Rants from Lance” indeed. Yes in fact it is over do but it is time; It is Soap Box time; I Read an interesting article today about the fact that 80% of all penalties for employment withholding costs were fined to small businesses with under ten employees. Probably because when the large companies were small they were fined and learned along the way, as they got bigger to outsource employment tasks or hire attorneys to slow down the investigating agencies. I say this fact has made a marke
The single most common cause of payroll errors is, well, human errors. Especially in systems with paper based punch clocks or manual time cards, human error (as simple as transposing digits or double entering figures) can be very costly, and cause the need to do adjustment checks or entire correction payroll runs. Most payroll errors are in the range of 1-8%, and even at 1%, when multiplied over several employees, adds up to tens of thousands of dollars of lost revenue.
Human error gets compounded when paper time cards get smudged, coffee gets split on them, employee’s “buddy punch” for each other or they just record their time inaccurately. Couple this with the time spent to verify results, and the time spent doing payroll accounting (an average of 7 minutes per time card per employee), and you’ll see that a lot of this could be eliminated if you had an automated time and attendance system with integrated payroll processing functionality.
In addition to paying for itself in saved time and reduced error rates, an automate
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