I had written a previous blog “Going Paperless” regarding paperless payroll as it pertains to the check stub, but I suppose I may have put the cart before the horse. You cannot really have a paperless payroll unless you get rid of the paycheck. Of course you have employees with direct deposit, but what about the unbanked, or those who may just prefer to get a check, rather than all of the conveniences of direct deposit? Are there ways to mandate direct deposit to become paperless? Yes, there are 25 states where the laws or enforcement positions can be interpreted…
Posts tagged as “paperless”
A question I am often asked is ‘How long must I maintain my payroll records?’, and the answer is; “it depends”. Reason being is that there are many different documents that are maintained within the payroll world by a myriad of federal, state, and local agencies, and a lots of overlap. Some people put a blanket retention policy of seven years across all documents, but in some cases as we will see, even that may not be long enough. Namely if the records are for an active employee. Let’s take a look at the more popular forms and documents, and bring some order to…
Going paperless. Some do it to save the environment, some do it to save money, and some do it to save time. No matter what the reason, there are some things to consider when it comes to the payroll process and the payroll check. While the “check” itself becomes obsolete as many individuals go on direct deposit, it is always attached to a check stub, or as we call it, a pay statement, a detail of the employee’s wages, deductions withheld, taxes withheld, and sometimes other important information. According to the United States Department of Labor, the Fair Labor Standards Act…