Payroll

A one dollar bill is photographed in front of a white background.

How to Determine a Payroll Schedule for Your Company

How to Determine a Payroll Schedule for Your Company 500 333 Heidi McLean

Whether you’re starting a new company or you’re trying to develop a better strategy for your company’s payroll, there are a few things to keep in mind. This includes the state your business is presently in, the types of workers you have, and when you are able to push your workers’ paychecks through.

Here are some starting points that will help you find the right payroll schedule for your company.

View your state’s payday requirements

Did you know that each state has a set of specific requirements when it comes to your workers’ payroll? The United State Department of Labor features a graph that shows specific regulations around payroll. This should be your first step, which might narrow down your options.

Analyze your workers’ hours

Most companies have full-time, part-time, and perhaps even workers contracted by the hour (aka freelancers). It’s important to take inventory of this before determining your payroll system. If you’re working with freelancers, for example, you’ll want to understand the time-card approval process your company is currently using.

Decide the payment cadence

When putting together your payroll schedule, the biggest question might be how often your workers are paid. Some companies, including non-profits, have specific guidelines, such as only having the option to pay full-time employees once per month.

If your business has options, consider which system is best: weekly, bi-weekly, monthly, or bi-monthly. There are pros and cons for each, however, you could also send a survey to your workers to collect their preferences. This might also help you decide what day of the month will be payday.

Payment date

After the payment cadence, it’s time to decide when your workers will be paid, versus how often. If you have to approve hours in order to issue paychecks, give yourself or your accountant plenty of time.

According to the Bureau of Labor Statistics, “36.5 percent of U.S. private businesses [pay] their employees every two weeks.” Fridays are common for paydays, although it will vary depending on your cadence. Although your workers might have preferences, you’ll want to consider what’s best for your organization as well.

All-in-one payroll management solution

If you’re looking for another way to help organize your payroll system, consider a payroll management system that will take the hassle out of paying your workers. PayReel offers an innovative solution to aid companies with managing freelancers, ensuring they receive their payments on time. Our paperless payroll system meets state regulations, and it delivers payments efficiently and with ease. You no longer have to worry about all the details — we do the hard work for you.

Your specific payroll strategy will depend on your state’s requirements, your accountant’s suggestions, and what’s best for your business overall. Read more tips for payroll management!

If your company is looking for a payroll management system, it would be worth considering an Employer of Record (EOR) who can handle all of your business’ payroll, employee tax work, benefit management, compliance and worker classification. Payroll is simply the tip of the iceburg when it comes to business needs in employee management and support. Think about all of your company’s short and long-term goals when selecting the best payroll management system and EOR for your business.

Learn more about how PayReel can simplify your payroll and worker management processes.

 

About PayReel:

At PayReel, we minimize the time and effort it takes to get you ready for your project. Rely on PayReel to assume all of the risk associated with worker classification and get back to the business at hand. We make sure everyone gets paid quickly and easily and have Client Relationship Managers on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team makes live event, corporate media, and brand management payroll easier, faster, and seamless.

open enrollment

Open enrollment is over: What’s a freelancer to do?

Open enrollment is over: What’s a freelancer to do? 490 261 Heidi McLean

If you missed open enrollment–either because you didn’t like your plan choices or because you wanted to take a nap every time you started the application–don’t fret. You still have options. Even if you are enrolled but aren’t happy with your coverage, you may find a solution in one of the less common approaches (read until the end!), which seek to provide an answer for many of the common gripes above.

Common gripes

Getting coverage–particularly for the untraditionally employed among us–can be a real downer. That’s because (a) it can be costly; (b) in-network providers can be inconvenient or ill-suited to your needs; (c) knowing what you qualify for isn’t always black and white.

What are my options?

Going uninsured: The big game changer of 2019 is that the federal mandate (which penalized people without health coverage) no longer applies, meaning you will not be charged for being uninsured in 2019. Young, healthy people who don’t have insurance through work may find this option appealing. Still, going uninsured is a big risk (as in–it could bankrupt you–no matter how little bank you have to rupt). It only takes one unexpected accident or illness to make a seemingly inexpensive choice a very expensive one indeed.

Special ACA enrollment/other state-funded options: If you lose coverage, move, get married, get pregnant, or have a change in income, you may qualify for a special enrollment period for the ACA. Just go to Healthcare.gov and select “See if I can enroll.”  If you qualify, you can also apply for Medicaid or the Children’s Health Insurance Program (CHIP) at any point.

Unregulated insurance: Some insurance options are not regulated by the Affordable Care Act, and therefore allow year-round enrollment. You may wish to look into private market insurers or short-term coverage. As always, read the fine print and do your research before deciding these less-common plans are right for you. 

Concierge medicine: For a monthly fee, you can essentially have unlimited access to Direct Primary Care (DPC) for all your regular needs. This is not the high-cost concierge medicine of olde. Instead, a monthly fee (sometimes as low as $50) gives you quick access to a doctor on call who, due to a smaller patient base, is highly familiar with your particular situation. Here’s an in-depth Consumer Reports rundown on the pros and cons of this approach. For those already paying insurance for a traditional approach, a DPC means an additional cost. For those foregoing traditional insurance (read on), this option gives access to higher quality care (at least in theory) while also offering cost savings.

Health cost sharing ministries: One of the first things they’ll be sure you know is that this decidedly NOT insurance and should not be thought of as such. However, some people find cost-sharing ministries a good alternative or supplement to traditional insurance. Even with subsidies, some only qualify for plans with high monthly premiums and/or deductibles, which means this option offers cost savings in many such cases. The fact that it allows you to choose your care providers based on factors that are important to you (such as healthcare philosophy, convenient location, specialization in your particular needs, etc.) also makes it highly appealing. The way these ministries operate varies, but the basic premise is that members pool monthly payments to share when someone has a medical need. While qualifying expenses are shared, members are technically self-pay and can therefore go anywhere that is accepting new patients. Here’s a Consumer Reports rundown on this approach.

Other cost-sharing services: While the well known cost-sharing options are considered ministries and therefore require some sort of statement of faith, at least one company is offering health cost sharing without any religious affiliation required. Being in the early stages (first memberships start in Jan., 2019) means information and testimonials are limited, but KNEW Health targets health-minded individuals and considers itself a “safety-net for large, unexpected medical costs.”

Combination of the above: Some find a combination of concierge medicine and some sort of catastrophic or health-sharing plan gives them access to the regular care they want while still maintaining peace of mind that they will not be buried in costs for accidents and unexpected illnesses. Here is some info from two people who use a combination of concierge medicine and health sharing ministries to get the care they want and save money, too. They talk about the costs, benefits in their unique situation, and their experience getting costs reimbursed.

The bottom line

You should always do your own research on big decisions–and healthcare is one of the biggest. What options work for you? Why? Once you’ve knocked this one off your to-do list, you will have earned that nap.

About PayReel:

At PayReel, we minimize the time and effort it takes to get you ready for your project. Rely on PayReel to assume all of the risk associated with worker classification and get back to the business at hand. We make sure everyone gets paid quickly and easily and have Client Relationship Managers on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team makes live event, corporate media, and brand management payroll easier, faster, and seamless.

payroll fraud

Worried about payroll fraud? Here’s how to prevent and detect it.

Worried about payroll fraud? Here’s how to prevent and detect it. 5616 3744 Heidi McLean

The ragtag group of employees who set out to redirect “fractions of pennies” to themselves in the movie Office Space didn’t think of it as stealing. They’re even portrayed as the heroes in the movie—sticking it to the man and finding themselves in the process. Likewise, payroll fraud is so common in the real world that many don’t even think of it as fraud. They’re not thieves! They’re just “redirecting” funds they feel should be theirs anyway. This mindset, along with how easy payroll fraud sometimes is to pull off, makes for a dangerous combination. Businesses with small payroll departments are most vulnerable, but it happens at the big companies and even feel-good nonprofits, too. We’ve collected a tool kit of tips and resources to help you prevent and detect payroll fraud.

What exactly is payroll fraud and why should I care?

Payroll fraud is a misappropriation of funds commonly in the form of paying “ghost” employees or vendors and various types of falsifying wages/hours. The Association of Certified Fraud Examiners (ACFE)’s biannual 2018 Global Study on Occupational Fraud and Abuse covers some of the impact of such fraud. Among its key findings are:

  • Businesses lost over $7 billion among reported cases
  • Small businesses lost more than twice as much per scheme
  • Fraud schemes’ median duration was 16 months

Okay, so how can I prevent it?

As usual, the best approach for protecting yourself is preventing problems in the first place. Preventive measures discourage a would-be fraudster from trying in the first place while also making frauds more likely to be caught early on. Any cost or perceived hassle of preventative measures pales in comparison to the potential cost of lax procedures.

  1. Start at the beginning. Use the Social Security Administration website, E-verify or the IRS website to confirm candidates’ identities. Conduct a background check after that. Continue the process at regular intervals even after hiring. Making this level of scrutiny regular practice ensures it doesn’t appear personal toward a particular employee.
  2. Separate duties. When the same person makes entries, writes checks, and audits the books, they have too much power. Having multiple points of control and separation of duties ensures you keep a system of checks and balances (pun intended) in place.
  3. Conduct internal and external audits. According to the ACFE report, internal audits “accounted for 15% of the frauds detected” and external audits caught 4% of the frauds. Quarterly reviews are a reasonable and healthy standard practice for companies of all sizes.

Something seems fishy. Now what?

So let’s say you’ve taken preventive measures to minimize risk and something still doesn’t add up. Even if they have to get more creative and sneaky, some people will try to overcome the obstacles you’ve put in place. So now you have to dig.

  1. Watch for red flags. This aforementioned article—about the ghosts among us—identifies some of the major red flags to watch out for. Hint: an employee who never takes a day off may not be as dedicated as you think.
  2. Provide a hotline for tips. The ACFE report notes that tips are the most common detection method and that organizations with hotlines receive more tips (46%) to potential fraud than those without (30%).
  3. Follow the money. Corrupt behaviors tend to leave a money trail. More than one employee using the same bank account, vendors you’ve never heard of receiving checks, and unusually high expenses are all signs something may be awry. If something seems fishy, investigate or hire someone to do it for you. And do it quietly so you don’t tip off the fraudster(s) before you have all the information you need.

Bottom line

The ACFE provides in-depth fraud prevention checkup that can get you thinking about the topic in a new way, identify vulnerabilities, and help you determine a course of action to put preventive measures in place. Most payroll fraud, while incredibly frustrating and costly, is highly preventable.

 

Note: A third type of payroll fraud is committed by businesses that misclassify employees as independent contractors to avoid paying payroll tax and other costs associated with employees. We’ve covered misclassification in depth (see more here) and focused on the kind perpetrated against a company for today’s post.

About PayReel:

At PayReel, we minimize the time and effort it takes to get you ready for your project. Rely on PayReel to assume all of the risk associated with worker classification and get back to the business at hand. We make sure you get paid quick and easy, and have Client Relationship Managers on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team makes event payroll easier, faster, and seamless.

payreel payroll services

5 ways PayReel Online makes your life easier

5 ways PayReel Online makes your life easier 6000 4000 Heidi McLean

We think working with us should be easy as all that pie we’ll all be eating next week–but without the need for stretchy pants. That’s why our system is as secure as it is convenient. At PayReel, we pride ourselves on having that perfect mix of convenient automation and personal service from real, live humans. What does that mean for you?

 

PayReel Online benefits that make your life easy peasy:

  1. Updating personal info is a breeze: You can change your physical address in your PayReel Online account. You can also change your email address, update your W4, or change your direct deposit information by contacting PayReel via email or phone.
  2. Real, live humans answer your call: If you’re like us, you’ve forgotten that the tiny computer attached to your wrist at all times actually functions as a phone. If you ever get stuck online or simply want to chat with one of our Customer Experience Managers, we’re ready. Go ahead, try us at 303-526-4900. Meet the whole team here.
  3. On the go and paper free: There’s no need to find a printer or an ink pen. You don’t even have to email your supervisor for approval. Simply input your time sheets before you leave the job and your manager will approve your time sheets online. Because no one ever says, “If only I had one more piece of paper on my desk.” You can do everything while you’re still on the job.
  4. Get paid quickly: Okay, okay, this one probably should’ve been first, right? Since everything is online and approvals happen with a simple click of a button, you get paid the Friday after your time sheets are approved.

 

Anything else?

Of course. At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy, and have customer experience managers available to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team makes payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team!

 

 

Crystal - The Ambassador

Meet the team: Crystal Somers, The Ambassador

Meet the team: Crystal Somers, The Ambassador 7203 4807 Heidi McLean

While our online payroll systems make our clients’ and employees’ lives easier, there’s simply no replacement for the real live people behind the scenes. We are proud to have a stellar team, including Crystal Somers, our Client Experience Manager (also known as The Ambassador). If you haven’t already experienced Crystal’s stellar customer service yourself, you may end up wanting to call just to get to know her more.

 

Tell me more about Crystal (aka the Ambassador)

When Crystal isn’t keeping track of everything in her busy life from minimum wage changes to 6 siblings in different states, our Florida girl enjoys spending time with her fur baby, Vito. Crystal’s strong customer service skills come from life. She says dealing with a big family helped her learn how to handle different personalities, age levels, and backgrounds. That serves her well at PayReel, both with the internal team and with those in the field. In the office, we love Crystal because she’s always willing to help, whether it be with her team’s events, or with taking group walks to keep everyone healthy! Employees love her because she is super responsive to their needs and helpful when questions arise.

We’ll keep profiling the team in upcoming posts so stay tuned!

 

The bottom line

PayReel’s real team of real people is here for you. We provide personal service and work hard to make sure clients enjoy easy onboarding and and employees get paid quickly and accurately. Go ahead, give us a shot!  You can call us anytime at 303.526.4900 or reach us by email at info@payreel.com.  We look forward to hearing from you.

 

About PayReel

At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy, and have customer service agents on call around the clock to answer your questions. The PayReel team makes event and corporate payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team!

 

 

contract work payreel misclassification

Misclassification in the news: What you need to know

Misclassification in the news: What you need to know 3000 2000 Heidi McLean

While the workforce has plenty of people legitimately doing contract work, when employees are misclassified as contractors, the worker and the government are both likely to miss out. The government loses potential tax dollars and workers lose out on benefits and more. Employers should care about it, too (and not just because the legal stakes are high). It’s about more than the bottom line.

Below are some recent headlines about the evolving workforce and its related consequences:

 

Misclassification in the news: The headlines

North Carolina Governor Signs Law Creating Division to Investigate and Prosecute Employee Misclassification Claims

Highlight: While the federal government has had employee misclassification in its sights for a while, states are now getting in on the game to add heat to errant companies.

March 2017 Independent Contractor Misclassification and Compliance News Update

Highlight: extensively covers recent and current misclassification lawsuits.

New Case Shows That “Uber-ization” of Workforce Could Lead to Misclassification Challenge Highlight: discusses the challenge of determining what an independent contractor is when gray areas in the gig-like aspects of their work exist.

Gig economy creates legal puzzles for the courts

Highlight: discusses what we know about the interests of all parties as well as possible reforms (including the possibility of adding a third worker definition). 

 

Enter PayReel

The way we work and manage businesses are both evolving as contract work increases with the gig economy. With that comes growing pains and litigation. Worker classification is an increasingly sticky subject (Gorilla Glue status, perhaps?) and one we’ve covered extensively (see more posts on the subject here).

If the topic of misclassification makes you sweat, give us a call and we’ll be happy to help. Partners who make your life easier are worth the investment. A payroll service may be right for those who don’t have the bandwidth or interest in digging into the legalese. PayReel manages payroll taxes and, as the employer of record, takes on all risk associated with a variable workforce. Think you might benefit from hiring a payroll service? Here’s a handy guide to find out more.

About PayReel

Producing multimedia content and executing live events is chaotic. When it comes to event payroll, payroll taxes, and so much more, PayReel makes your life easier. We make sure our clients are able to hire who they want, when they want and see that everyone is paid properly. Leave all payroll services and details up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or email us.

Relax. We got it.

 

Michelle event payroll payreel

Meet the team: Michelle Bowersox, Operations Team Leader

Meet the team: Michelle Bowersox, Operations Team Leader 800 552 Heidi McLean

At PayReel, we keep things running smoothly with one of the easiest-to-use online payroll systems around. But it’s important to us that technology serves as a complement to the human touch, not the other way around. Somewhere behind all your on-time paychecks are the real people we are proud to have on our team. One of those is Michelle Bowersox, our Payroll Team Leader (also known as The Problem Solver).

 

Tell me more about Michelle

You can find Michelle spending time in the beautiful Rocky Mountains in the summer, buying salt water taffy for her PayReel / Crew Connection team, or rooting on her Denver Broncos during football season. A true Colorado native, Michelle also enjoys learning more about her state’s history and spending time with her husband of 25 years and her daughter Cassie. Along with playing Mama Bear to the CCPR team, Michelle also plays Mama to three fur babies—Glitter, JD, and Dakota. In the CCPR house, we love Michelle because she cares about the employees as if they were her own family.

We’ll keep profiling the team in upcoming posts so stay tuned!

 

The bottom line

The team at PayReel is a true team of real people and we’re here for you. We provide personal service and work hard to make sure clients enjoy easy onboarding and and employees get paid quickly and accurately. Go ahead, give us a shot!  You can call us anytime at 303.526.4900 or reach us by email at info@payreel.com.  We look forward to hearing from you.

 

About PayReel

At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy, and have customer service agents on call around the clock to answer your questions. The PayReel team makes event and corporate payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team!

 

 

onboarding contractors payreel

How to simplify onboarding your freelancers

How to simplify onboarding your freelancers 5616 3744 PayReel

How much time are you spending setting up your freelancers?

If the answer is too much, then maybe it’s time to reconsider your methods. Let PayReel handle onboarding paperwork so you can spend your time and energy on the creative parts of your projects instead.

 

So what’s the problem?

Worker classification: One of the most difficult things about setting up your workforce is worker classification. That’s why we cover the topic extensively on our blog. While you may be able to answer who’s a strong worker and who might need a little bit of help, the worker classification discussion brings a lot more to the table than a black-and-white answer—especially now with the Department of Labor cracking down on worker classification errors. If the words exempt, non-exempt, W-2, and 1099 make your head spin, we can help with that.

Paying accurately: Another trick that comes into play when hiring your workforce is making sure you’re paying them accurately (we’re looking at you, minimum wage and overtime!) and in a timely manner. Did you know that some states have strict pay deadlines for specific types of employees? We know, and our team works hard to stay on top of the ever-changing wage laws at the federal, state, and local levels.

Payroll taxes: If taxes only cross your mind on or around April 15th, do the IRS (and yourself) a favor, and stop. Did you know that, along with differing wage laws, some states and localities require a different taxation method than the federal government does? It’s true. Here’s where we stress (and the only time we stress), we got it. Our team stays well versed in local, state, and ever-changing federal tax methods and laws to make sure the employee is happy, you’re happy, and of course, the IRS is happy.

 

Enter PayReel

If one, two, or all three of the points above make you sweat, give us a call and we’ll be happy to help manage your events, employees, and all the behind-the-scenes paperwork that comes with it.

About PayReel

Producing multimedia content and executing live events is chaotic. When it comes to event payroll, payroll taxes, and so much more, PayReel makes your life easier. We make sure our clients are able to hire who they want, when they want and see that everyone is paid properly. Leave all payroll services and details up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or email us.

Relax. We got it.

About the author

Nat's notes

PayReel Customer Experience Manager Natalie “The Go Getter” McGinnis is an avid fan of sports and labor laws alike. Her experience in recruitment, customer service, and ongoing HR education give her the tools to provide laser-focused attention and assistance to the PayReel employees and clients who need it most. Click here to read more of Nat’s Notes then meet the rest of the PayReel team!

 

 

 

event payroll payreel

Is there something you need to tell us?

Is there something you need to tell us? 5184 3456 Heidi McLean

Keep in mind that anytime you move, change your phone number or email address, or have an update to your tax status, it’s important to keep your profile with PayReel updated. That way, we can keep you paid. 

 

How do I update my profile?

Submit any changes to your profile (address, tax status, direct deposit information, email address, phone number, oh my!) at any time. You can update your digits or submit nearly any change through your online portal, through the ‘Contact Us’ option on the website, or you can contact your account manager directly at 303-526-4900.

 

Where does my information go?

Don’t worry, your information won’t get lost in cyberspace—or worse, someone else’s hands. Our system is as secure as it is convenient. At PayReel, we pride ourselves on having that perfect mix of convenient automation and personal service from real, live humans. Excellent service from excellent humans.

Meet the whole team here (we’ll also be profiling them in upcoming newsletters so stay tuned!).

 

The bottom line

Keep us updated on life changes so we can keep you paid in the quick manner you’ve learned to expect from us. Help us help you.

 

About PayReel

At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy, and have customer service agents on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team make event payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team!

 

 

How to set up an independent contractor PayReel

Are you an independent contractor? Be sure you know your rights

Are you an independent contractor? Be sure you know your rights 5000 2813 Heidi McLean

Like many employers, the United States Department of Labor (DOL) has independent contractors (ICs) on the mind. And for good reason: They’re taking over the world! Or at least the world economy. ICs now make up 34% of the national economy and the trend is increasing internationally, too.

To that end, the US DOL has put out a list of resources for ICs. It covers on-the-job safety, benefits, workers’ rights, taxes, and more. This is especially helpful since best practices are constantly evolving and being defined/redefined.

Check out the site for more information on the following:

 

Questions about misclassification

As Uber’s tumultuous journey demonstrates, classification is a hot topic for everyone from the government to businesses. With their bottom line to watch out for and fines to protect themselves from, employers are wondering when and how to set up an independent contractor rather than an employee. For its part, the government has tax dollars on the line and workers to protect. And workers? Well they’re watching their pocketbooks, too. With that much at stake, no wonder it’s a hot topic. The DOL covers the topic in depth here.

 

Workers’ rights

Whether you’re wondering about safety on the job, health care and retirement benefits, or discrimination, you’ll find the deets here, too.

 

The bottom line

It’s a complicated subject, but whatever you’re wondering, the DOL is a good place to start. Still have questions? Follow our blog for more information on topics such as evolving labor lawscomplianceworker classification, and more. We’ll keep you up to date and equipped to avoid common pitfalls.

 

About PayReel

At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy, and have customer service agents on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team make event payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team!