Many businesses wonder whether they should be using payroll services to help with their payroll tasks. This is an important question that many businesses should strive towards. Here, we take a look at a few of the benefits of these services to recognize how it can help your business. The following list is by no means exhaustive but it should give you an idea of some of the main benefits of exercising this option.
1. Allows businesses to focus on the business.
This is by far one of the biggest advantages of using payroll services for your business. They allow you to focus on your business without having to do a mundane task that most people do not enjoy. This can be helpful in that you are able to focus on what you do best which is the regular business. This often translates into improved performance or being able to catchup on other tasks. This also may allow you to be able to seek out additional business with the freed up time. This can mean you can easily offset the cost of this services by taking on more clients or being able to offer additional services to existing customers.
2. Allows experts to do the payroll.
It also allows the payroll function to be performed by a group that specializes in exactly that skill. For this reason, it increases the odds the work is performed properly and efficiently. This can translate into cost savings as you avoid any penalties for taxes or rework due to errors. This also means you can actually get better overall results in the payroll services than you would if you were doing it yourself. Plus, they will have a better understanding of what the industry requires in terms of keeping records and be able to better provide you with information on new changes due to changes in employment law and more.
3. Reduces stress and risk of malpractice or mistakes.
By being able to focus on what you do best and letting experts do the work, you are more likely to get better results. This will reduce stress on you making it less likely you make some mistakes. It also reduces the risk that mistakes will occur due to being overworked or afraid you have missed something.
What Security Features Are Used on Blank Check Stock?
With the advent of MICR printing in home and small-business settings, printing your own checks is easier than ever. Once you have the equipment and software necessary to begin printing checks, the only other thing you need is the proper blank check stock. Of course, security is a crucial element of check printing. Understanding the different aspects of check security can aid in making the right decision when purchasing blank checks.
MICR Lines
MICR technology, or Magnetic Ink Character Recognition, is one of the most basic elements of check printing. Unlike standard ink toner, MICR toner uses magnetically-charged ink which can be read by automated equipment. The MICR line is the series of characters printed along the bottom of the check that includes the account number, the routing number and the check number itself.
If you have purchased a high-quality MICR cartridge from a reliable cartridge manufacturer, this so-called "can't read" rate is generally 1% or less, while the rate of character replacement (reading one character as another) is less than 0.00001% or one in one-hundred thousand. Additionally, MICR ink cannot be obscured by stamps or ink from signatures and memo lines. Using a high-quality MICR printer with the appropriate MICR ink cartridge can ensure high levels of integrity for the MICR line.
Additional security features are elements of the check paper itself.
ABA Endorsement
The American Banking Association Endorsement Clause is printed on the back of ABA-endorsed check paper. It includes a warning indicating that the face of the check contains a colored background. The endorsement also includes a facsimile of the check's water mark and ensures that the check was printed using micro-printing.
Watermark Features
Secure check paper is embedded with a watermark. The watermark identifies the check printer, and changes visually when held up to the light. Additionally, it intensifies when held under a black light. It is printed on the back of the check and ensures that the laser check printing meets ANSI and ABA standards. The watermark is a key security feature because it cannot be photocopied, thus ensuring that the check is authentic and original.
Fluorescent Fibers
Like the watermark, fluorescent fibers are embedded in the check. Under black light, the fibers will intensify. Since this property cannot be transferred by a photocopier, the absence of fluorescent fibers indicates that a check is not authentic.
Copier Void Feature
The copier void feature works in the reverse direction as the water mark and fluorescent fibers. Void text, either in paragraph form or in a series of void marks, is printed on the back of the check and is barely visible unless the check is photocopied, in which case the void text becomes clearly visible, indicating that the check is fake. Copier void text may also appear behind the amount and signature lines.
Rainbow Prismatic Features
Laser printed checks are printed with two-color backgrounds. The colors fade in graduated fashion from one to the other, making these checks very difficult to photocopy accurately.
Micro Printing
The micro printing process involves printing text around the edges of the check that can only be read using a microscope. The text is too fine to be read by a photocopier or scanner, or to be printed using a standard printer. The absence or distortion of micro printed text indicates that the check is invalid.
Heat Sensitive Ink
On some laser printed checks, security or patent information can be printed in thermochromatic ink, which changes color when exposed to heat. The heat-sensitive properties of this ink cannot be transferred by a photocopier.
MICR Lines
MICR technology, or Magnetic Ink Character Recognition, is one of the most basic elements of check printing. Unlike standard ink toner, MICR toner uses magnetically-charged ink which can be read by automated equipment. The MICR line is the series of characters printed along the bottom of the check that includes the account number, the routing number and the check number itself.
If you have purchased a high-quality MICR cartridge from a reliable cartridge manufacturer, this so-called "can't read" rate is generally 1% or less, while the rate of character replacement (reading one character as another) is less than 0.00001% or one in one-hundred thousand. Additionally, MICR ink cannot be obscured by stamps or ink from signatures and memo lines. Using a high-quality MICR printer with the appropriate MICR ink cartridge can ensure high levels of integrity for the MICR line.
Additional security features are elements of the check paper itself.
ABA Endorsement
The American Banking Association Endorsement Clause is printed on the back of ABA-endorsed check paper. It includes a warning indicating that the face of the check contains a colored background. The endorsement also includes a facsimile of the check's water mark and ensures that the check was printed using micro-printing.
Watermark Features
Secure check paper is embedded with a watermark. The watermark identifies the check printer, and changes visually when held up to the light. Additionally, it intensifies when held under a black light. It is printed on the back of the check and ensures that the laser check printing meets ANSI and ABA standards. The watermark is a key security feature because it cannot be photocopied, thus ensuring that the check is authentic and original.
Fluorescent Fibers
Like the watermark, fluorescent fibers are embedded in the check. Under black light, the fibers will intensify. Since this property cannot be transferred by a photocopier, the absence of fluorescent fibers indicates that a check is not authentic.
Copier Void Feature
The copier void feature works in the reverse direction as the water mark and fluorescent fibers. Void text, either in paragraph form or in a series of void marks, is printed on the back of the check and is barely visible unless the check is photocopied, in which case the void text becomes clearly visible, indicating that the check is fake. Copier void text may also appear behind the amount and signature lines.
Rainbow Prismatic Features
Laser printed checks are printed with two-color backgrounds. The colors fade in graduated fashion from one to the other, making these checks very difficult to photocopy accurately.
Micro Printing
The micro printing process involves printing text around the edges of the check that can only be read using a microscope. The text is too fine to be read by a photocopier or scanner, or to be printed using a standard printer. The absence or distortion of micro printed text indicates that the check is invalid.
Heat Sensitive Ink
On some laser printed checks, security or patent information can be printed in thermochromatic ink, which changes color when exposed to heat. The heat-sensitive properties of this ink cannot be transferred by a photocopier.
How Are Pressure Seal Checks Used In Payroll?
As businesses look for ways to reduce costs, new methods of document creation and processing such as using pressure seal payroll checks can offer significant savings. Many businesses, both large and small, have already moved to printing payroll checks in-house, as an alternative to buying pre-printed checks or outsourcing check printing. With a quality MICR printer and blank check stock, businesses can eliminate surplus checks and check printing service fees. Check stock that can seal in this fashion can be used as part of the in-house check printing process to reduce payroll processing costs even further.
What are pressure sealing check forms?
Pressure sealing forms are documents - such as payroll checks and W2 forms - printed on special paper by a LaserJet printer. This paper is equipped with a unique dry glue along its sealing edges; when these edges are processed through a machine capable of sealing the paper, the form becomes a self-mailer. Payroll checks can be printed directly onto these check forms, eliminating the need for envelopes and envelope stuffing.
What are the types of pressure seal check forms?
The most commonly used types of these check forms are z-fold forms (also known as accordion forms) and c-fold forms (also known as a letter fold). Both of these forms are tri-fold styles and are available in both 11" letter and 14" legal sizes. C-fold checks of this type require two-sided imaging; one side of the form contains a section for invoice/payment, check number and payee information, a section for the check to be printed and a third section which may be either left blank or used to record any additional memo information. Address information is printed on the opposite side of the form. Z-fold checks, other other hand, only require one-sided imaging, with all check, payee and address information being printed on the same side.
What are the benefits of using pressure seal checks?
While using pressure sealing checks instead of traditional blank check stock and envelopes does require some initial investment to purchase sealing machines, the cost savings and environmental benefits far outweigh the cost in the end. By switching to pressure sealing check forms, businesses can:
- Eliminate the need for envelopes, cutting back on both the expense and environmental impact of purchasing additional paper products.
- Avoid the risk of placing the wrong checks or duplicate checks in envelopes. Each pressure seal check is self-contained!
- Avoid labor costs of stuffing checks into envelopes.
- Achieve faster payroll processing; pressure seal checks are printed, run through sealing machines and ready to mail instantly.
- Avoid the risk of mailing errors due to the address not being clearly visible through envelope windows.
- Improve check mailing security; pressure seal check edges offer a stronger, more secure seal than regular envelopes.
What are pressure sealing check forms?
Pressure sealing forms are documents - such as payroll checks and W2 forms - printed on special paper by a LaserJet printer. This paper is equipped with a unique dry glue along its sealing edges; when these edges are processed through a machine capable of sealing the paper, the form becomes a self-mailer. Payroll checks can be printed directly onto these check forms, eliminating the need for envelopes and envelope stuffing.
What are the types of pressure seal check forms?
The most commonly used types of these check forms are z-fold forms (also known as accordion forms) and c-fold forms (also known as a letter fold). Both of these forms are tri-fold styles and are available in both 11" letter and 14" legal sizes. C-fold checks of this type require two-sided imaging; one side of the form contains a section for invoice/payment, check number and payee information, a section for the check to be printed and a third section which may be either left blank or used to record any additional memo information. Address information is printed on the opposite side of the form. Z-fold checks, other other hand, only require one-sided imaging, with all check, payee and address information being printed on the same side.
What are the benefits of using pressure seal checks?
While using pressure sealing checks instead of traditional blank check stock and envelopes does require some initial investment to purchase sealing machines, the cost savings and environmental benefits far outweigh the cost in the end. By switching to pressure sealing check forms, businesses can:
- Eliminate the need for envelopes, cutting back on both the expense and environmental impact of purchasing additional paper products.
- Avoid the risk of placing the wrong checks or duplicate checks in envelopes. Each pressure seal check is self-contained!
- Avoid labor costs of stuffing checks into envelopes.
- Achieve faster payroll processing; pressure seal checks are printed, run through sealing machines and ready to mail instantly.
- Avoid the risk of mailing errors due to the address not being clearly visible through envelope windows.
- Improve check mailing security; pressure seal check edges offer a stronger, more secure seal than regular envelopes.
Helpful Ways to Enter Payroll Data
When your business started, you probably gave no second thought to entering payroll data for employees. That's probably because it was all so simple. But as your business grows, pay day entry becomes much more varied by employee, shift, job and pay types. Some employees are paid a salary, others are hourly, and still others are paid via piece work, and so on. Thankfully, good software programs have grown to accommodate the growing payroll needs of a business. By using a good program you can keep your payroll accurate and also save time on data entry. Here are some helpful pay data methods payroll software can offer.
Salaried and Hourly. Entering salaried and hourly pay is fairly basic, since most employees fall into one of these categories. Payroll systems typically come with pre-defined codes for these pay types, and you set up each employee with the code as needed. Some programs also allow you to change the standard codes to meet your needs.
Piecework. Businesses such as fruit growers and manufacturers often pay employees via piecework, and having a tool to handle those calculations can save significant time and improve accuracy. This not only helps your business, but keeps employees happy too.
Minimum Wage Calculations. If you have employees who are paid by piecework, you need to verify that you are paying them at least minimum wage. Minimum wage calculation is a tool that allows you to calculate what employees actually did, and then verify they are being paid minimum wage. This ensures that you comply with minimum wage laws.
Time Clock. Using a time clock allows you to pull in information from cards or electronically that the employees have entered and managers may have approved. Pulling in this information directly can save significant manual entry time and can also help avoid errors.
Time Entry Formats. You may want to have different methods of entering pay available, and multiple time formats give you this option. Using time formats, you can enter actual hours worked, or you can enter a start and stop time and let the software calculate the actually hours worked based on that.
Shift Differential. If you have employees who work different shifts at your business, you likely pay a differential, for instance, an added hourly pay amount depending on the shift. Some systems allow you to set up these shift differential pay amounts within the system, so that paying those employees the correct rate is as easy as choosing the correct amount from a list.
Copy Previous Pay Runs. Some systems save you the time of having to enter pay data each pay period by copying a previous pay run and using it as a starting point for a new pay run. This allows you to quickly select the same employees paid the previous week.
Using software tools can help streamline the payroll process and can also ensure data accuracy.
Salaried and Hourly. Entering salaried and hourly pay is fairly basic, since most employees fall into one of these categories. Payroll systems typically come with pre-defined codes for these pay types, and you set up each employee with the code as needed. Some programs also allow you to change the standard codes to meet your needs.
Piecework. Businesses such as fruit growers and manufacturers often pay employees via piecework, and having a tool to handle those calculations can save significant time and improve accuracy. This not only helps your business, but keeps employees happy too.
Minimum Wage Calculations. If you have employees who are paid by piecework, you need to verify that you are paying them at least minimum wage. Minimum wage calculation is a tool that allows you to calculate what employees actually did, and then verify they are being paid minimum wage. This ensures that you comply with minimum wage laws.
Time Clock. Using a time clock allows you to pull in information from cards or electronically that the employees have entered and managers may have approved. Pulling in this information directly can save significant manual entry time and can also help avoid errors.
Time Entry Formats. You may want to have different methods of entering pay available, and multiple time formats give you this option. Using time formats, you can enter actual hours worked, or you can enter a start and stop time and let the software calculate the actually hours worked based on that.
Shift Differential. If you have employees who work different shifts at your business, you likely pay a differential, for instance, an added hourly pay amount depending on the shift. Some systems allow you to set up these shift differential pay amounts within the system, so that paying those employees the correct rate is as easy as choosing the correct amount from a list.
Copy Previous Pay Runs. Some systems save you the time of having to enter pay data each pay period by copying a previous pay run and using it as a starting point for a new pay run. This allows you to quickly select the same employees paid the previous week.
Using software tools can help streamline the payroll process and can also ensure data accuracy.
Simple Accounting - The Way to Go
Traditionally, keeping an account of outgoings and in-comings of one's private or even business undertaking is considered a difficult task; it can be really difficult to maintain a reasonable level of discipline. Many people will rather use their intuition to manage their affairs as only they can. Unfortunately, the majority of such people either fall into debt or end up in some other form of financial mess. I say some because a few people make it unscathed, sheer luck!
Accounting is not an easy task. It is even worse when an entrepreneur has to learn debits and credits. Small businesses are usually limited in their funding to employ full-time accountants armed with expensive accounting packages.
Splashing out money on pricey accounting packages may be a waste of money and time as the scarce resources can be put to better use in the business. However, avoiding accounting tasks is usually a costly mistake as tax penalties and poor decisions usually follow. Using simple accounting solutions available online might be the answer.
Simple accounting solutions available online started as an attempt to get rid of all the jargon and complexity and also the cost that comes with current accounting packages by simplifying how daily bookkeeping and accounting is done and how it is delivered to the people that need them most at a low cost.
Some really easy to use online solutions that make simple accounting possible exist today. The task of recording sales, purchases and the cash of a business is a straightforward process. Putting it together in accounting language, and generating trial balances and financial statements is time-consuming and can be difficult to do. A simple accounting solution removes the difficulty. For example, it creates the space to create sales invoices and requests for payment and records the accounting side and reports.
Such online solutions are also easy to access for the first time and they get easier and easier to use as the business person continues to operate them.
Simple accounting solutions also simplify the preparing accounts for tax filing and other forms of compliance with the help part-time accountant, but the most important advantage is how the business owner's ability to make informed decisions about the business is improved. This may not be considered a big deal, but in reality, the business owner does not have the time to create reports in the office or the money to waste on fancy systems. With simple accounting solutions online, all a business owner needs to maintain up-to-date records and view reports is a smart phone or mobile devise with connection internet. To put it another way, a business owner's accounting solution can fit into a pocket and will go everywhere, and will be available at any time. This is simplicity and efficiency all rolled into one.
Some of such online solutions available today come with a lot of free value adding services like customised email for sending invoices and reminders for payment that help improve cash flow and business efficiency in general. In fact, some of the solutions provide key date notifications that enable business owner stay up-to-date with important things such as tax filing date and accounts completion dates.
Accounting is not an easy task. It is even worse when an entrepreneur has to learn debits and credits. Small businesses are usually limited in their funding to employ full-time accountants armed with expensive accounting packages.
Splashing out money on pricey accounting packages may be a waste of money and time as the scarce resources can be put to better use in the business. However, avoiding accounting tasks is usually a costly mistake as tax penalties and poor decisions usually follow. Using simple accounting solutions available online might be the answer.
Simple accounting solutions available online started as an attempt to get rid of all the jargon and complexity and also the cost that comes with current accounting packages by simplifying how daily bookkeeping and accounting is done and how it is delivered to the people that need them most at a low cost.
Some really easy to use online solutions that make simple accounting possible exist today. The task of recording sales, purchases and the cash of a business is a straightforward process. Putting it together in accounting language, and generating trial balances and financial statements is time-consuming and can be difficult to do. A simple accounting solution removes the difficulty. For example, it creates the space to create sales invoices and requests for payment and records the accounting side and reports.
Such online solutions are also easy to access for the first time and they get easier and easier to use as the business person continues to operate them.
Simple accounting solutions also simplify the preparing accounts for tax filing and other forms of compliance with the help part-time accountant, but the most important advantage is how the business owner's ability to make informed decisions about the business is improved. This may not be considered a big deal, but in reality, the business owner does not have the time to create reports in the office or the money to waste on fancy systems. With simple accounting solutions online, all a business owner needs to maintain up-to-date records and view reports is a smart phone or mobile devise with connection internet. To put it another way, a business owner's accounting solution can fit into a pocket and will go everywhere, and will be available at any time. This is simplicity and efficiency all rolled into one.
Some of such online solutions available today come with a lot of free value adding services like customised email for sending invoices and reminders for payment that help improve cash flow and business efficiency in general. In fact, some of the solutions provide key date notifications that enable business owner stay up-to-date with important things such as tax filing date and accounts completion dates.
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