How To Ensure That Your Business Is Payroll Compliant

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How To Ensure That Your Business Is Payroll
Compliant
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• People have been paid for the services they offer
  and the jobs they complete for as long as humans
  have been in existence, and the concept of
  recording and tracking payroll is by no means a
  modern one. The way in which this is done has
  naturally evolved as businesses have, and payroll
  is now largely computerised and high tech. The
  laws regarding payroll have also evolved over
  time, and now more than ever, its vital that you
  remain payroll compliant to avoid costly
  penalties and disgruntled employees.

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• How easy is it to make payroll errors?
• Payroll errors are as simple to make now as they
  ever were, but the price for these mistakes is
  much higher. No longer is a payroll error just a
  case of an employee complaining and the problem
  being rectified wherever possible now it can
  result in serious financial penalties or even a
  court appearance if the matter cannot be settled
  amicably.

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• What are some of the compliance issues that
  affect payroll?
• The problem with payroll compliance, is that
  legislation is constantly changing, and it can be
  hard to keep on top of things if you are not in
  the know, and do not understand the intricacies
  of payroll.One issue that can have a dramatic
  effect on payroll compliance, is failing to
  report the relevant information in a timely
  manner. Doing so can result in a fine for not
  submitting a full payment submission or FTP,
  for sending the incorrect amount of FTPs or for
  not sending an employment payment summary or
  EPS. Penalties can also be incurred if the
  information that you submit is wrong.

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• Local legislation must also be accounted for by
  multinational companies, or those who complete
  payroll on a country to country basis, and a
  fully integrated payroll system is the only
  solution for remaining compliant in every country
  and territory.
• What are the best ways of preventing payroll
  compliance mistakes?
• Payroll software is a tried and tested way of
  avoiding any payroll mistakes, and this is
  whether you use the software yourself, or whether
  you outsource your payroll to a company who uses
  the software.

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• The software must up to date if you want to
  ensure that youre compliant with the law when
  conducting payroll, and while it can be tempting
  to lower the cost by calculating payroll
  yourself, this is rarely successful, and
  employers often fall short of meeting all the
  necessary legislative requirements or if they
  are compliant, they have had to put far more
  effort in.
• Accurately tracking time and attendance - not to
  mention having an up to date and accurate record
  of absences, overtime and scheduling - is vital
  for effective payroll, and an integrated and
  automated system significantly minimizes the risk
  of compliance errors that could have a negative
  impact on your company.

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• Outsourcing payroll means that compliance issues
  are never your concern, and there is no safer and
  more effective way of keeping your employees
  happy and your business on the right side of the
  law.
• Apollo Payroll is one of the premier small
  business payroll companies in Miami Beach and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  payroll service in Miami and other cities in
  Miami-Dade County, employee background check and
  group health insurance in Coral Gables Miami.