April 2022 – Page 2 – Management Library

April 22, 2022November 23, 2022

What Is a Payroll Card?

A payroll card is much like a prepaid debit card, but an employee doesn’t need a bank account to receive funds. Many people no longer regularly carry cash, so having your paycheck directly deposited onto a card is more convenient. It’s an ideal paycheck alternative for employees who may not qualify for a bank account.

The payroll card is one option for allowing greater flexibility and convenience to people without bank accounts. However, not all employers are able to offer paychecks through payroll cards.

What Is a Payroll Card?

A payroll card is a way of receiving a paycheck from your employer. However, instead of handing you a paper check or depositing money directly into a bank account, a payroll card is similar to a prepaid debit card or gift card. It carries a balance which you can spend down, and which can then be topped up by your employer on payday. Additionally, like a prepaid card, a payroll card isn’t linked to a bank account.

As a result, rather than being issued by a bank or credit card company, payroll cards are issued by a third party. Employers can work with those providers, who may offer payroll cards to employees as an option to receive their paycheck.

The issuer may be a payroll service provider or an employer may work directly with a card issuer like Visa or Mastercard. Some of the best payroll software options are also starting to offer payroll cards.

Prepaid General Use Cards

Payroll cards are one of several types of prepaid cards, specifically belonging to the general use category. Rather than being similar to gift cards or store credit cards, which are limited in use, they can be used anywhere a debit card can be used. In fact, in practice they are very similar to a standard debit card.

Modern payroll cards offer many of the same features as a debit card, including the ability to track your balance online and draw cash from an ATM. On the other hand, payroll cards don’t require you to obtain a bank account or meet the requirements for one. For some people, particularly in lower income brackets, it can be difficult to qualify for a standard checking or savings account. Of course, some people also opt to do without a bank account for a variety of other reasons.

Not having a bank account can present a number of challenges. In particular, without one, only cash transactions or transactions using money orders are possible. Payroll cards allow people who aren’t able to get a bank account, or who would rather do without one, the convenience of using a card rather than depending on cash.

Benefits and Disadvantages of Payroll Cards

Payroll cards offer some advantages to employers, saving the fees for printing checks or direct deposit. However, it remains a relatively uncommon choice among employees, with most preferring direct deposit. A quick comparison of the potential pluses and minuses to employees might reveal why.

Benefits

The benefits of payroll cards include:

Allows online shopping: One of the primary limitations of cash in the modern age is you can’t use it to buy stuff online. A payroll card can be used just like a debit card, including for online shopping.
Flexibility: You can use your card or get cash out at an ATM to use, if that’s your preference.
Convenience: Getting a check and cashing it takes time and potentially a trip out of your way. A paycheck is deposited immediately to a payroll card, without the delay.
No prerequisites: Unlike a bank account, there’s no need to have a minimum balance. Problems with previous accounts also don’t present a barrier.

It’s worth noting that bank accounts share all of the same benefits, with the exception of the last.

Disadvantages

There are only a few disadvantages to payroll cards, though they are significant:

Fees: Payroll cards usually come with a range of fees, including activation fees, inactivity fees, ATM fees, fees for paying bills, and potentially a long list more. In particular, there’s a fee for replacing a lost card.
Fewer Safeguards: Most bank accounts come with protections against fraud and identity theft. Payroll cards don’t have those same safeguards, which may make using them online less attractive.

Who Uses Payroll Cards?

In general, payroll cards are used by relatively few employees, despite being made available by more employers all the time. There are a number of reasons that might be the case, but the higher potential for incurring fees is probably a significant barrier to adoption. Payroll cards are more likely to be offered to lower income employees and any potential fees would end up taking a bigger bite out of their pay.

What Is Flexible Payroll?

Flexible payroll refers to a feature some payroll providers are just beginning to implement. The underlying idea is that, instead of having a fixed payday, employees can bank work and then receive pay when it’s convenient for them.

At the moment, there is still a regular pay schedule and flexible pay is deducted from a future paycheck, more-or-less like an advance. That may be at least partly because of payroll laws. However, it’s easy to imagine a future where the calendar of paydays is abandoned entirely.

Anyone who knows how to do payroll may wonder how that’s possible. However, payroll providers, such as Gusto, that use computers and cloud-based systems for managing time keeping means that they can keep a running tally, instantly transfer money, and still track deductions.

Frequently Asked Questions (FAQs) for Payroll Cards

Looking for the answer to a specific question? Check out our answers to common questions below.

Do Payroll Cards Have Fees?

Payroll cards can come with a number of fees. Common examples include:

1. Inactivity fees
2. ATM fees
3. Replacement card fees
4. Bill pay fees

Can I Use a Payroll Card Anywhere?

A payroll card should be usable wherever you could use a debit card. If they have a card reader for credit and debit cards, you should be able to use your payroll card. Additionally, it will work with online stores like Amazon.

Where Can I Sign Up For Flexible Pay?

Individual employees can’t sign up for flexible pay on their own. Instead, their employer has to work with a payroll provider that offers it as an option. An example is Gusto, a combination of payroll provider and software.

Bottom Line on Payroll Cards

Payroll cards offer a number of advantages. However, they’re unlikely to be widely adopted when fees are liable to cost an employee an appreciable part of their paycheck. While payroll cards may remain uncommon, flexible pay has the potential to become a popular and common feature.

April 21, 2022November 23, 2022

Paychex Review: Best Payroll Software for Scalability

In this Paychex review, you’ll see how it helps you complete your payroll, tax, and HR tasks in a fast, convenient way. It offers powerful payroll features, scalability, and cost-effective pricing, making it good payroll software for many small businesses.

Our Verdict

Paychex

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Paychex is the ideal payroll software for scaling businesses, thanks to its excellent payroll functionality, flexibility, and value for money.

Wide range of payroll, tax & HR features
Ability to scale based on business growth
Fairly affordable price of low-tier plan

Some tax services require additional fees
Pricing of mid-tier and high-tier plans is not transparent
Certain advanced features only available for premium plans

Paychex at a Glance

Screenshot of Paychex submit payroll page

Paychex is an all-purpose payroll software which provides an impressive number of payroll, tax, and HR services. It assists you in all stages of the payroll process, starting from the computation of salaries up to making timely payments to your staff members. Plus, it automatically calculates, pays, and files your federal, state, and local taxes on your behalf. On top of this, it simplifies HR procedures like employee screening, onboarding of new hires, and administering employee benefits.

This payroll platform is powered by Paychex, Inc., a leading provider of human capital management solutions. Founded in 1971 by B. Thomas Golisano, it now has over 700,000 users in the U.S. and Europe. It is considered as the biggest HR company for small to mid-sized businesses, claiming that it is used to pay one out of 12 employees in the private sector in the U.S.

Paychex stands out among other payroll services because of its scalability, meaning you can adapt it to the growth of your business. It packs a wide variety of features, including convenient payment methods, employee self-service options, reporting tools, advanced payroll services, automated tax filing, regulatory compliance tools, HR assistance, optional services, and mobile app.

Pricing:

Starts at $39 / month + $5 per employee

Who Paychex Is Best For

We recommend Paychex for scaling businesses that need payroll software to simplify the payroll process. It’s only fitting that the plans are named “Flex” because you can adjust this flexible platform as your business expands. While Paychex offers a basic package for small businesses, you can upgrade to premium plans with advanced features as your organization grows into a mid-sized or large business.

Pricing

The payroll requirements of your business will depend on the current size and type of your business. That’s why Paychex offers three kinds of plans which differ in terms of pricing and features.

Price

$39 / month + $5 per employee

Custom

User Interface

Simple, easy-to-use UI

Payment Methods

Direct deposit & on-site check printing

Direct deposit, on-site check printing, paper checks, check signing & check logo services

Employee Self-service

Employee account registration & self-service options

Reporting

Standard analytics & reporting plus general ledger report

Payroll Advanced Services

Garnishment payment services

Dedicated payroll specialist

Dedicated payroll specialist, garnishment payment services & accounting software integration

Tax Services

Payroll tax administration plus W-2 & 1099 Form assistance

Regulatory Compliance

New hire reporting, labor compliance poster kit & workers’ compensation insurance

New hire reporting, labor compliance poster kit, workers’ compensation insurance & state unemployment insurance services

HR Services

HR library & business forms

HR library & business forms plus learning management system

HR library & business forms, learning management system, onboarding tools, employee screening, plus employee handbook builder

Optional Services

Pay card, financial wellness program, tax credit services, and Employee Assistance Program (EAP)

Pay card, financial wellness program, and tax credit services

Mobile App

Paychex Flex mobile app

Customer Support

24/7 support

To summarize, these are the three paid plans which are available from Paychex:

Essentials ($39 / month + $5 per employee): It provides basic payroll and tax filing services to small businesses with one to nine employees.
Select (Custom): It offers enhanced payroll services and HR support to small, mid-sized, and large businesses.
Pro (Custom): It provides full-service payroll, HR, hiring, and onboarding services for startup, medium-sized, and huge businesses.

You can select the Paychex plan that meets the needs and budget of your business. While you can start out with the basic plan, you have the option to upgrade to premium plans once your business expands.

Take note that you need to contact Paychex to get a quote for the Select and Pro plans since the price is not available on the official website. The total amount will depend on the exact requirements of your business.

Paychex Features

Paychex showcases a broad range of features that makes it easier for you to handle the payroll, tax, and HR aspects of your business. In this Paychex review, let’s explore how these features work, including payment methods, employee self-service accounts, reporting capabilities, advanced payroll tools, tax filing services, regulatory compliance assistance, HR tools, optional services, mobile app, and customer support.

User Interface

Paychex has a simple user interface (UI) that is easy to use and navigate. The main menu in the left-hand column gives you a clear overview of the available options, while the display menu takes up the majority of the screen space to show the details of the section you selected.

Screenshot of Paychex Flex payroll center page

The UI enables you to enter payroll information with just a few clicks, whether you are using the desktop version on your computer or the mobile app on your smartphone. It prompts you to gather the required documents, plus it even lets you migrate your data from your former payroll system for a smoother transition.

Payment Methods

All Paychex Flex plans offer two payment methods that make it easier for you to pay your employees on a regular basis. The first option is direct deposit, which enables you to transfer the salary of your staff members directly into their bank accounts. The second alternative is on-site check printing, which lets you print check payments straight from your office. In addition to this, the Select and Pro plans provide more payment options for extra versatility. These additional methods include paper checks, check signing, and check logo services.

Employee Self-service

Aside from speeding up your payroll tasks, Paychex also gives you the chance to divide the labor among your team. It encourages you to add new employees to the system by inviting them to register for their own Paychex Flex accounts. After they finish setting up their accounts, each staff member can perform some payroll activities independently so you and the payroll department can save time.

Reporting

Paychex has reporting capabilities that encourage you to evaluate your existing payroll process and improve it if necessary. On one hand, the standard analytics and reporting feature generates essential reports so you can enhance the way you handle your payroll system. On the other hand, the general ledger report grants you access to all the financial transactions of your team so you can keep track of your expenses.

Payroll Advanced Services

If you need more payroll solutions beyond the basics, Paychex provides advanced types of payroll services. First, the Essential and Pro plans include garnishment payment services which aids you in deducting and remitting garnished wages to agencies.

Next, both the Select and Pro plans let you experience the services of a dedicated payroll specialist who can assist you with your payroll and tax needs. Finally, the Pro plan exclusively offers accounting software integration, which connects your payroll information to accounting software like Xero, QuickBooks Online, and Sage Intacct.

Tax Services

Paychex reduces your hassle during tax season through its tax services. Through the Paychex Taxpay feature, it automatically computes, pays, and files your state, federal, and local taxes on your behalf. It also helps you with completing W-2 and 1099 forms, which you need for your employees and contractors. Just be aware that you need to pay additional fees to take advantage of Paychex Taxpay and tax form services.

Regulatory Compliance

All the Paychex plans assist you in becoming compliant with business regulations via new hire reporting, labor compliance poster kit, and workers’ compensation insurance. First, it helps you fulfill state reporting requirements for your new or rehired employees and contractors. Next, it provides you with current printed or electronic state and federal labor compliance posters which you can exhibit in the office.

Aside from this, it gives you the option to pick a plan with the guidance of licensed agents of the Paychex Insurance Agency. On top of everything, the Pro plan aids you in overseeing your state unemployment insurance procedures for your staff members.

HR Services

Paychex offers HR services which range from basic to advanced, depending on the plan you select. The Essentials package grants you access to HR documents and business forms. Aside from HR library privileges, the Select plan boosts your knowledge through the Paychex learning management system. You and your staff members can join online courses which will teach you how to enhance employee retention and minimize turnover.

On top of these services, the Pro package also includes onboarding features that make it fast for your new hires to digitally complete direct deposit forms, tax forms, and documents. It allows you to conduct background checks on candidates for job positions. Last but not least, it provides an online employee handbook builder tool which lets you create a company guide based on state and federal policies.

Optional Services

Paychex provides optional services at no extra charge. For the convenience of your employees, you can digitally deposit wages in prepaid pay cards. The financial wellness program can also enable your staff members to fulfill their financial objectives through short-term loans and educational tools.

Plus, the Employee Assistance Program (EAP) gives your staff members the chance to address personal issues which could otherwise have adverse effects on their work productivity. Finally, for the sake of your business, you can also apply tax credits to increase your tax savings.

Mobile App

The Paychex Flex mobile app lets you monitor and manage your payroll even when you are on the go. It keeps you updated on Paychex data and it allows you to process payroll even when you are away from the office. Plus, you can download this app to your Android or iOS smartphones.

Customer Support

Paychex provides customer support on a 24/7 basis. You can reach out to U.S. based service specialists any time, especially if you need help addressing your payroll concerns or troubleshooting technical issues.

On one hand, the client admin support handles your problems with payroll management, attendance, time tracking, health insurance, and benefits. On the other hand, the client employee support aids your staff members by finding their W-2 forms, getting support contacts for retirement accounts, and answering their questions.

Alternatives to Paychex

Paychex is definitely an ace when it comes to scalability. However, there are other factors which may be more vital to you when it comes to selecting payroll software. That’s why we have compiled some options to Paychex that you may be interested in.

Square Payroll

Square Payroll is a payroll solution for small businesses that offers full-service payroll. It allows you to process payments for your contractors using your Square Checking account and balance. Plus, it keeps track of the time of your freelancers via timecard syncing. Aside from this, it automates the filing of your local, state, and federal payroll taxes.

Square Payroll may be a suitable choice for you if you only or mostly need to pay independent contractors instead of permanent employees. It specializes in the contractor payroll process, in contrast to Paychex which is designed mainly as an employee payroll system.

Pricing:

Pay Contractors Only: $5 / month per person paid
Pay Employees & Contractors: $35 / month for subscription fee + $5 / month per person paid

ADP

ADP is a payroll platform that focuses on HR services. Even the basic plan covers HR support, employee onboarding, reviews, and health care compliance paperwork. In addition to this, the advanced packages include background checks, HR specialist help, and ZipRecruiter assistance. Plus, it comes with typical payroll services like recurring payroll runs, automated tax filing, and tax form services.

ADP could be an appropriate alternative for you if you need a payroll software that is rich in HR features. Both ADP and Paychex include HR tools, but ADP places greater emphasis on HR while Paychex concentrates more on payroll.

Pricing:

Essential Payroll
Enhanced Payroll
Complete Payroll & HR Plus
HR Pro Payroll & HR

*Fill out the form at the ADP website to access plan rates

Rippling

Rippling is a payroll solution with a visual-centric user interface (UI). It makes it simple for you to oversee your payroll system, benefits, time and attendance, learning management, talent management, and PEO services in a central location. On top of this, it allows you to automate your payroll workflows and reports through the template library.

Rippling may be a better fit for you if you prefer working with a payroll software that is visually friendly. While both Rippling and Paychex are fairly easy to navigate, the Rippling UI relies more on icons, graphics, and images compared to the Paychex UI which is largely text-based.

Pricing:

Starts at $8 / month per user. Contact Rippling to get a custom quote.

Frequently Asked Questions (FAQs) for Paychex Review

Paychex is a popular payroll software that is used by many business owners in the U.S. and in other countries. Discover the answers to common questions about Paychex to learn if this platform works for your business.

What Is Paychex?

Paychex is a payroll software that offers a wide array of payroll, HR, and tax services. It was created by Paychex, Inc., a provider of human capital management solutions which was established in 1971. This flexible platform can be scaled according to your business growth and team requirements.

Its features include handy payment methods, employee self-service accounts, report generation, advanced payroll services, automatic tax filing, regulatory compliance services, HR tools, optional services, and Paychex Flex mobile app.

What Is Payroll Software?

Payroll software is an on-premises program or cloud-based solution that handles the payroll process of a business. The best payroll software enables the business owner, manager, payroll team, or HR department to compensate staff members and freelancers in a timely, accurate manner. It typically has built-in features and automations, while its functionality is boosted by integrations with other apps.

How Can Paychex Help My Business?

Paychex can help you manage and monitor the payroll, tax, and HR aspects of your business. First, it makes it easy for you to disburse payments to your employees and contractors on a regular basis.

Next, it automatically files your federal, state, and local taxes so you can meet tax deadlines. Finally, it assists you in completing the onboarding process for new hires and administering benefits to your staff members.

Bottom Line on Paychex Review

Paychex streamlines your payroll procedures so you can pay your staff members the right amount at the right time. We recommend Paychex for you if you need a scalable, affordable payroll software with robust payroll, HR, and tax features. Hopefully, this Paychex review has guided you to decide if this platform is the perfect fit for your business or not.

April 20, 2022February 17, 2023

How Do I Create A Free Professional Email Address?

Businesswoman creating a free professional email address

A business email address can boost your business image and make it easier for people to trust you. If you run a small venture or a startup, a professional email address can also make you look as well-established as your top competitors.

However, it is challenging to find a truly free business email provider. Most web hosting providers that offer free email domains require you to incur costs associated with their plans. In this article, we will explore four straightforward steps to obtain a “nearly” free professional email address coupled with free inbox organization tools.

What Is a Free Professional Email Address?

The most popular free email addresses contain the domain name of the email service provider. These include yahoo.com, hotmail.com, and gmail.com. On the other hand, a business email address comes with your domain name, giving your company a unique identity.

For instance, if your company’s name is “Backstreet,” a professional business email address may be Terry@backstreet.com. Using a generic email like Terry.backstreet@gmail.com can demean your company’s credibility or give it an unprofessional vibe.

4 Easy Steps to Set up a Free Professional Email Address

A business email address is a crucial aspect of your branding. It provides a superior strategy for connecting your company’s face with your website domain and official communication channel with your clients.

Here are four easy steps for setting up a free business email address:

Step 1: Register Your Domain Name

The easiest way to obtain the best free business email address is first to register your domain name. Ensure you choose a name that reflects your business as closely as possible. Note that your domain name of choice will dictate your website address and business email.

A free professional email address is not technically free because you have to incur some undelaying fees. The easiest way to register a domain name is through a web hosting provider. Some of the best hosting providers include:

Bluehost
Google workspace
Zoho Mail
HostGator
Greatmail
InMotion
Namecheap

The web host you choose will also provide free email hosting allowing you to create a free business email address. They will also take care of server maintenance.

To register, choose a hosting plan and confirm whether your domain name of choice is available. If it is taken, try to find a closely related name, perhaps by adding a hyphen, abbreviations, etc. The next step is to enter your personal details, click “I Agree” to the terms, and make a payment to set up a web hosting account for your domain name. Read the step-by-step guide on how to register a domain name.

Step 2: Select an Email Provider

Depending on your web hosting company, you may choose a random email provider or have to choose one from the company’s email service partners. For instance, you have to select GSuite or Webmail to access your emails when using Bluehost.

If you have the freedom of choice, here are some of the options you could go with:

G Suite (Google Workspace)
Microsoft Office 365
Zoho Workplace
Rackspace
FastMail

Step 3: Create a Free Business Email Address

So, you have registered your website’s domain name and even have an email provider. It’s now time to create a personalized free professional email address.

The steps you will take here will depend on your web hosting company. With Bluehost, for instance, you’ll need to visit the Bluehost dashboard and click the Email and Office tab to create your free professional email address using your domain name. When using Zoho, visit the Mail Pricing page and select the Forever Free plan.

Step 4: Check Out Your Free Business Email Address

Your web hosting company will provide detailed instructions to help you access your free business email address and send or receive emails. Essentially, you need to choose a webmail application like Outlook or Gmail. Just ensure your choice affords you a smooth user experience and satisfactory customization options.

Also, you can create multiple user accounts and manage them by changing passwords and freeing up storage space. To make your company appear well-established, you can set up addresses for your customer service, sales, and HR departments.

If the free plan is too basic for your business needs, you always have the option of upgrading. Paid premium email services offer more advanced features.

Frequently Asked Questions (FAQs) for Free Professional Email Address

Here are answers to frequently asked questions about getting a free professional email address.

Is It Necessary to Have a Registered Domain Name?

Yes, it is. If you want to create a free professional email address, you must register your domain name. This allows you to obtain a custom email domain. If you don’t have a registered domain name, you have to stick to free email accounts like Hotmail, Gmail, and Yahoo.

Do I Need a Website to Get a Free Business Email Address?

No. You don’t need to build a website to get a free professional email address. However, you still need to spend on web hosting services to register a domain name and receive free email hosting services.

Is It Worth to Get a Free Professional Email Address?

A free business email address comes with your domain name. All company emails contain your brand name and can serve as practical marketing tools.

Moreover, a free professional email address is worth it because you can create multiple user accounts for your staff. When employees use personal email addresses, you could lose essential business-related communications once they leave.

A professional email address under your domain name remains your company’s property. Even if you set up an account using an employee’s name, you can always redirect all the emails to newly hired staff. You also get to enjoy the following perks with a free professional email address:

1. A spruced up company image that communicates professionalism
2. Enhanced customer trust
3. Branded emails serve as free marketing tools
4. Reduced risk of your emails ending up in your customer’s spam folders

How “Free” Is a Free Professional Email Address?

Unfortunately, the only free email addresses are yahoo.com, Hotmail.com, and gmail.com. As you can imagine, these can create a pretty unprofessional image when used for business.
Technically, you can obtain a free business email through a web hosting provider such as Bluehost or InMotion. Most providers offer a whole package of free goodies with their hosting plan, including a free professional email address.

Can I Find a Free Professional Email Address Domain That Is Identical to My Website Domain Name?

Finding the exact email domain as your website domain is challenging, especially if you don’t intend to spend a dime. The easiest way to go about this is by signing up for the services of a web host provider. This assures you of receiving a free business email domain identical to your website domain name.

Bottom Line on Free Professional Business Email

A free professional email address can help you make an excellent first impression. It is a powerful branding, email marketing, and digital communication tool that can enhance modern office functions.

Use the above steps to set up your free business email address and enjoy robust cloud storage features, and a range of productivity tools to ensure smooth business email communications.

April 19, 2022November 23, 2022

Wave Payroll Review

Wave Payroll is an online payroll service that offers basic payroll capabilities, and can help you calculate and file payroll taxes, but only in some states. Although it appears to be a part of the wider Wave Accounting suite, you can also use it as a standalone payroll application. That said, Wave Payroll is best for small businesses with basic payroll needs.

Our Verdict

Wave Payroll

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Although it’s easy to use, Wave Payroll isn’t the most feature-rich payroll service. It has limited payroll automation options, no mobile app, and offers only one payroll report. Automatic tax filing options are also limited as Payroll by Wave offers this service for 14 states only.

Despite its lack of features, Wave Payroll is still a good option if you’ve only got a few employees to pay. It’s easy to set up and you don’t need a lot of technical know-how to run payroll with it. If your business already uses Wave Accounting, then this payroll service can help you keep things simple and integrated.

Easy to use
Integrates well with Wave Accounting
Offers an employee self-service portal

Files taxes for 14 states only
Payroll isn’t automated
No mailing service for checks or tax forms

Wave Payroll at a Glance

Wave Payroll is a great choice for small business owners who don’t have a lot of experience with running payroll. It has an intuitive user interface and is easy to learn and use. But if you’re looking for a wider set of features including tools to manage employee benefits, a mobile app, or multistate tax filing, Wave Payroll is not for you.

Wave can’t fully automate payroll, but you can still set up payment schedules and get pay time reminders. With the employee self-service portal, new employees can set up their profiles and manage their taxes on their own. You don’t get time tracking functionality with this payroll service, but you can still use its online timesheets to add hours manually.

When it comes to direct deposits, you can get your employees paid three business days after you run payroll with Wave. It also offers payment by paycheck but you’d have to print checks on your own since it doesn’t have a mailing service.

Screenshot of Wave Payroll Payroll Summary, time sheets, dashboard overview

Wave Payroll offers a 30-day free trial for you to check whether it suits your business. This gives you plenty of time to test out all the features from the employer and employee sides of the payroll service. If you think it’s a good fit, you can sign up for it by paying a very reasonable monthly fee.

Who Should Use Wave Payroll

Wave Payroll is a good choice to run payroll for small businesses. It can help you keep things simple if you’ve got 5-6 employees. But if your company is larger than that, you’re better off looking for other payroll software.

If you’ve just hired your first employee and are just learning how to do payroll, Wave can help you get well-versed in it. It has a simple and intuitive interface and won’t present a steep learning curve. If you’re already using Wave Accounting, we’d recommend you stick with Wave Payroll because the two integrate very well.

Payroll by Wave is also a great choice if you hire seasonal employees. You can easily change an employee’s status from active to inactive so you don’t have to pay payroll fees for a worker who isn’t temporarily working. This is why Wave is one of the best restaurant payroll software.

We also recommend it if you’re uncertain whether you’d need the payroll service in the upcoming months. Wave Payroll lets you temporarily pause your payroll subscription and you can always resume it when you need it again with ease.

Wave Payroll Pricing

Wave Payroll is on the cheaper part of the online payroll service spectrum. It has one of the lowest base fees plus a reasonable per-employee charge. The total cost of running payroll with Wave depends on your state, whether you choose auto tax filing, and the number of employees you have. The chart below summarizes Payroll by Wave’s pricing structure.

Base fee

$35/month

$20/month

Per employee charge

$6/person/month

This payroll service doesn’t have a very complicated pricing structure. It has a simple base fee and an additional charge for every employee or contractor paid. The only difference is that if you get Wave’s automatic tax filing, the base fee is $35 per month. Learn more about how to process payroll for contractors.

Remember that this feature is not available in all states. If you’d be filing your payroll taxes yourself, you need only pay a $20 base fee.

Wave Payroll Features

As mentioned above, Wave Payroll isn’t the most feature-rich payroll processing service. But it still has some tools up its sleeve that are worth mentioning.

Ease of Use

Wave Payroll is easy to use, there’s no doubt about it. It’s specially designed with small businesses in mind and is best for entrepreneurs with little to no experience in running payroll. You can easily set up the payroll service with a step-by-step guide.

First, you create records for your employees and contractors and then add information about your business. You can monitor your progress through the setup process with a sliding bar at the top of the page.

Screenshot of Wave Payroll Add an Employee option

Adding a new employee can sometimes be time-consuming, but it still is a generally straightforward process. The employee self-service portal allows your employees to add information to their profiles, manage their tax deduction info, and also view pay stubs and tax forms.

Screenshot of Add Employee page with Wave Payroll

Some customers have complained about the Wave’s data entry being too complicated. For instance, adding hours worked and other company information is a bit too complicated and time-consuming according to some customer reviews. But all in all, running payroll with Wave is usually easy.

Automated Tax Filing

Wave Payroll offers automatic tax filing in the following 14 states only:

Arizona
Florida
Washington
Georgia
Illinois
Indiana
California
Minnesota
North Carolina
Tennessee
Texas
New York
Virginia
Wisconsin

If you’re in one of these states, Wave can automatically calculate, pay and file payroll taxes for you. It will also automatically generate tax forms including W-2s and 1099s, but you’re still directly responsible for submitting them in due time.

Dashboard

You can get a quick overview of all payroll-related information directly from Wave’s dashboard. This includes all upcoming important dates, total payroll costs, and a to-do list to see what payroll-related tasks are pending. Read the how to conduct payroll audit for small businesses.

The Review this Payroll button takes you to your current payroll details. If you want to make changes to the current payroll, you’d have to delete it to record your changes.

Timesheets

You don’t get in-house time-tracking abilities with Wave Payroll, however, you can still use its timesheets features to record hours worked and overtime for your employees manually. For hourly workers, you can use the timesheets to enter their hours worked, overtime, and PTO information. You don’t have to record hours worked for salaried employees but you can still use timesheets to record their overtime hours and PTO information.

Employee Deductions

Since this payroll processing service doesn’t offer employee benefit management tools, you have to enter the deductions manually. You need to click on the “Deduct from Pay” button to add before-tax deductions.

Screenshot of Wave Payroll Deduct from Pay option

Wave only gives you two options for payroll deductions: health insurance and 401(k). Almost all other competitors offer more than that. Plus, you can’t enter deductions in the form of a percentage, making things unnecessarily complicated. If you want to withhold a part of the pay, you need to enter the actual amount.

Wave Integrations

Wave Payroll integrates seamlessly with other Wave apps, including its invoicing and accounting services. Every time you approve a payroll run, the relevant bookkeeping data is automatically logged in to Wave Accounting. You can also use the receipt-tracking app to keep up with all your expenditures.

Wave apps can also integrate with BlueCamroo, Google Sheets, and Zapier. This allows you to connect your payroll service with several other business solutions including CRM software, email marketing, and appointment scheduling tools.

Customer Support

Wave Payroll offers 24/7 live chat support and email support for its customers. It also has a blog to help you answer questions and solve your problems with step-by-step guides. That said, customers have complained that their email support is too slow.

As a business owner, you always want your payroll-related questions answered as soon as possible. This is an area where Wave Payroll can improve a lot by using phone support with customer care agents just a phone call away.

Alternatives to Wave Payroll

If you think Wave Payroll isn’t the best choice for you and your business requires a more feature-rich payroll solution, take a look at the alternatives below.

Square Payroll

Visit

If you hire hourly wage contractors only, Square Payroll is a great choice for you. Square works for both salaried and hourly employees and contractors, however, you don’t have to pay a base fee if you buy the contractor-only plan. It doesn’t cost a lot more than Wave Payroll, but it offers many more features including employee benefits management, and integrations with a range of apps. Read the full Square Payroll review to learn more about it.

Low pricing
Easy to use
Integrates with other tools

Basic HR functionality only
Slow customer support
Basic payroll reports

Pricing

Pay employees and contractors: $35 monthly subscription + $5/month/per person paid
Pay contractors only: $5/month/per person paid

Gusto

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Gusto tops our list of best payroll software simply because it offers small businesses a great all-round solution for all payroll related tasks. It has a range of features you can pick from. Apart from integrating with other Gusto apps, this payroll software also works well with third-party tools like Xero and QuickBooks. Read the complete Gusto review to find more and you can also check out the Gusto vs Quickbooks review.

Unlimited payroll runs
Overtime alerts
Files taxes in all 50 states

More expensive option
Declining customer service ratings
No mobile app

Pricing

$39/month + $6/month/per person paid

SurePayroll

Visit

SurePayroll is great for small to medium businesses that need a simple but powerful software solution. This payroll software lets you automate payroll processing and also deals with taxes and tax forms.

This payroll service is an excellent option for a single business owner, household, or other small businesses that work inside one state. It’s also a more affordable option, so if you’re operating on a limited budget, you should consider SurePayroll. Read the SurePayroll review if you’re interested in it or the Gusto vs SurePayroll review.

Unlimited payroll runs
2-month free trial
Can process and submit taxes

Struggles with employees who switch between hourly and salaried roles
App can be challenging to navigate
Long customer service hold times

Pricing

No Tax Filing: $19.99/month + $4/per person paid
Full Service: $29.99/month + $5/per person paid
Household Payroll: $49.99/month (includes one employee) + $10/per additional person paid

Frequently Asked Questions (FAQs) for Wave Payroll review

Here are a few frequently asked questions about Payroll by Wave to help you solve your remaining queries.

Does Wave Payroll have time tracking?

Wave doesn’t have in-house time tracking abilities but it offers a timesheets for you to enter hours worked manually. You can also use these timesheets to record overtime and PTO information for your hourly and salaried employees.

Is Wave Payroll the cheapest payroll service?

Wave Payroll is arguably the cheapest payroll service. It has the lowest base of just $20 per month plus $6 per employee paid. Note that this pricing applies when you don’t get automatic tax filing services.

How long does Wave take to payout?

With Wave Payroll, you can get your employees paid three days via direct deposit after you run payroll.

Bottom Line on Wave Payroll Review

Wave Payroll is a cost-effective payroll solution, but it’s not a good choice if you’re outside the 14 states it offers tax filing services in. That said, you’ll find it a straightforward payroll solution if you’ve got a few employees to pay. It can become excessively time-consuming for larger teams.

It’s one of the cheapest payroll services out there, although there are a couple of free payroll services as well. If you’re on a tight budget, Wave can help you out with your payroll needs without you having to break the bank. But if you need to manage employee benefits, better integration with third-party software, and a mobile app to run payroll on the go, we recommend you look somewhere else.

April 18, 2022March 27, 2023

15 Best Project Management Conferences in 2023

Businesspeople in a project management conference

Every year, project management conferences come with a promise of learning and networking opportunities for project management professionals. The good news is that this year is no exception. If you have been looking forward to the next big event, here is a comprehensive list of the top project management conferences in 2023.

Interest in Project Management? You should try these tools!

1. Project Summit Business Analyst World

Date: June 12 to June 14, 2023

Venue: The Westin Arlington Gateway, Washington DC, USA

Estimated Turn Out: 500 to 1,000 delegates

Website: https://www.pmbaconferences.com/

Project Summit Business Analyst World is arguably one of the most significant project management events in North America. The speakers that will grace this conference are leading professionals in their respective sectors. Attendees can expect to have an illuminating learning and networking experience.

2. Project Management Symposium

Date: May 5 to May 6, 2022

Venue: Virtual

Website: https://pmsymposium.umd.edu/

Due to the pandemic, organizers of some project management events have moved online. The Project Management Symposium is one of these conferences. Fortunately, professionals from all over the world can attend this incredible symposium virtually.

If you attend the Project Management Symposium of 2022, you stand a chance to earn 44.25 PDUs which will go a long way in helping maintain your PMI certification. Even though this event favors certified professionals, the discussion will offer something for everyone.

3. Global Scrum Gathering

Date: June 5 to June 8, 2022

Venue: Denver, Colorado, USA, and Virtual

Website: https://www.scrumalliance.org/

The pandemic has prevented the Scrum Alliance from organizing a physical project management con since 2020. But now that health professionals have contained the situation, the organizers are hosting the Scrum Gathering in Colorado this year. However, they have considered people who may not want to travel to Colorado by providing means for them to attend virtually.

Many speakers from the agile environment will be sharing their knowledge and experience at this event. The topics of the event will go beyond project management software. They will touch on other broad aspects of running a successful business.

4. ACMP’s Annual Conference

Date: June 28 to July 1, 2022

Venue: Virtual

Website: https://www.acmpglobal.org/page/GC2022

The Association of Change Management Professional conference is around the corner. Due to safety concerns, the event will be virtual. The focus theme will be “Embracing th

e Changing World: Diversity, Technology, and Adaptability.” ACMP is determined to spearhead change in the practice of project management.

Attendees will learn about evolving project management aspects and how to embrace the change. And since ACMP is an authoritative champion for professionalism in project management, the participants will undoubtedly have an invaluable learning experience. They will also get an opportunity to mingle with like-minded professionals and enrich their contact lists.

5. 10th IPMA Research Conference

Date: April 22-23, 2023

Venue: Nanjing, China

Website: https://www.ipma-research-conference.world/

The International Project Management Association boasts of having over 72 member associations across the globe. Their 10th IPMA Research Conference will focus on the value of co-creation in project management. The organizers described the upcoming event as a symposium for professionals to exchange ideas. One of their objectives is to encourage dialogue and discussions between the participants.

Emerging trends in project management, business projects, digitalization, and project society will be some of the significant issues that will take center stage at the conference.

6. Agile 2022

Date: July 18 to July 22, 2022

Venue: Nashville, Tennessee, USA.

Website: https://www.acmpglobal.org/page/GC2022

Agile Alliance is one of the leading global non-membership associations built on the Agile Software Development Manifesto. The anticipated annual conference will focus on progressiveness in agile principles and value, innovation, and exploration in project management. Read about agile project methodology here.

The conference seeks to assemble various agile communities so that they can brainstorm, network, and share their professional experiences. This event is for all global practitioners interested in emerging practices, strategies, and ideas in agile software developments.

Innovators and agents of change from various parts of the world will attend. This conference welcomes both members and non-members of the Agile Alliance, and participants with membership will get a discount upon registration.

7. Future PMO

Date: October 26, 2023

Venue: London, England

Website: https://www.futurepmo.com/

The Future PMO will be a one-day conference for all project management and PMO professionals. Its organizers welcome attendees from all over the world. The speakers for this event will include PMO and project portfolio management experts. In addition, the event will be a social event encouraging networking.

The organizers of this project management event have set “Retro Gaming” as this year’s theme. And the conference will feature Laura Barnard, a top consultant and trainer on PMO strategies, as the keynote speaker. Federico Vargas, the CEO of G360, will be the other notable contributor to the conference.

8. Project Delivery Conference

Date: April 27 -29, 2023

Venue: Chicago, USA, and Virtual

Website: https://builtworlds.com/2022-project-delivery-conference/

Last year Builtworlds had to cancel the project delivery conference due to the pandemic. But there’s good news because the event will go down this year in Chicago. The best part is that you can participate virtually if you are unable to get there physically.

Global construction experts will share and exchange ideas and this will be an invaluable growth opportunity for rising talents interested in managing construction projects.

The highlights of this conference will revolve around innovative technology around building projects. Attendees will also learn how to manage risks in construction projects.

9. 20th European Pharma and Medtech PPM Conference

Date: May 18 to May 19, 2022

Venue: Basel, Switzerland

Website: https://whysummits.com/ppm-summit-basel-2022/

This year’s main focus for the 20th European Pharma and Medtech PPM conference is portfolio management in the biotech and pharma industry. Organizers have already picked “New Ways of Working “as the event’s theme. The conference presents a remarkable learning experience for all project management professionals in the medical technology field.

Other areas the event will cover include:

Leveraging new approaches to working, such as digital tools and agile
Building formidable cross functional teams
Collaborating with external shareholders
Incorporating mature products into project management

10. Women in Project Management (WiPM) Summit

Date: May 26, 2022

Venue: Westbury Hotel, Dublin, Ireland

Website: https://www.pmsummit.global/about-wipm

The WiPM Summit is a project management conference that seeks to empower women in project management. It is an event that will enable attendees to add to their portfolio of skills, network, and connect with their peers.

The organizers are still recruiting keynote speakers for the event. There was a similar event last year, and here is what the event had to offer.

11. PGCS Project and Program Management Symposium

Date: Aug. 22 to Aug. 24, 2023

Venue: Canberra, Australia, and Virtual

Website: https://www.pgcsymposium.org.au/

The PGCS conference is taking place for the 10th time and has found much success in the previous years. This year’s theme will be “Success is Never an Accident.” The organizers have advertised this conference as an occasion that will bring program and project management foundations together—they aim to help professionals work towards the successful execution of projects.

The event will cover the following topics:

Putting together successful teams for projects
Risk management
Structuring organizations to execute projects successfully

Delegates who will attend the event physically will have unlimited access to the live content and in-demand virtual content after the symposium. Virtual attendees also stand to gain immensely.

12. 33rd IPMA World Congress

Date: Nov. 19 to Nov. 25, 2022

Venue: Tokyo, Japan

Website: https://worldcongress.ipma.world/

This year’s IPMA world congress will tackle the role of project management in building a sustainable future. The ultimate objective is to explore the prospects of the digital age and its challenges. Participants will then try to develop solutions to the problems resulting from the ever-changing digital landscape in project management.

The program committee consists of speakers from America, Asia, Europe, and Australia. Most of them are heads of large corporations, practitioners from various fields and disciplines, and leading scientists.

13. Kanban Global Summit

Date: June 28 to June 30, 2023

Venue: San Diego, CA, USA

Website: https://resources.kanban.university/events/

The Kanban Global Summit is a resourceful conference featuring leading experts. The keynote speakers will share groundbreaking information on the Kanban methods during this event. Those in attendance will learn how to leverage various proven Kanban techniques to benefit their organizations.

Professionals will also participate in social receptions, coaching clinics, workshops, and insightful learning labs. The learning labs will encourage participants to focus on specific topics and ask questions. If professional and personal development is one of your goals in 2022, the Kanban Global Summit will be a great project management conference to attend.

14. Bridge PM & PMO Conference

Date: September 21-23, 2023

Venue: Vilnius, Lithuania, and virtual

Website: https://www.pmconference.org/

The Bridge PM and PMO Conference will be a hybrid event. Virtual attendees can participate in the event live via the Airmeet platform. The conference will feature thought leaders in various fields.

These will include Gilbert Silvius, the current HU of the University of Applied Sciences in Utrecht, Netherlands. He is a renowned expert in the area of sustainability in project management. The other notable speakers for the event include Dr Inga Popovaite, Joel Carboni, and Tajuana M.Taylor.

15. Agile & Beyond

Date: May 24 to May 25, 2022

Venue: Detroit, Michigan, USA

Website: https://agileandbeyond.com/2022/

Agile continues to champion excellent practices in the project management field. Agile and Beyond is another one of its many project management cons that will be seeking to sharpen practitioners’ skills. It will allow professionals to listen to maestros in project management and interact with like-minded talents.

The sessions in the events will revolve around agility, lean business practices, and software engineering. A typical day will revolve around insightful speeches from keynote speakers. Later, attendees will get the opportunity to interact and connect before calling it a day.

Read: Best Project Management Blogs to Follow

Frequently Asked Questions (FAQs) for Project Management Conferences

How Do You Get Project Management Training?

Many institutions around the world provide project management learning programs. These include colleges, universities, and professional associations. For certifications and continuous learning in the practice of project management, you may need to be a member of a professional organization.

What Does Project Management Consist Of?

Project management is a professional discipline that consists of initiating, planning, executing, and monitoring a project. It employs various techniques and methodologies such as lean, agile, and waterfall to achieve a project’s objectives.

Is Project Manager Part of PMO?

Functionally, both project management and PMO are interlinked. However, PMOs and project managers are different. A project manager oversees a particular project from its beginning to its completion. On the other hand, a PMO consists of a team of specialists that work on an organizational level. A project manager is not part of a PMO. Nonetheless, project managers can join the PMO if they are experts in various areas.

Is Project Management a Good Career?

Project management can be a great career. Nonetheless, your passion for project delivery would help you rise into top management. A genuine interest in people is one of the most vital traits a project manager will have.

Project management is also a lucrative career. The annual average salary for project managers in the US is $116,000.

Final Thoughts on Project Management Conferences

Project management conferences are instrumental in the professional development of practitioners. Participating in these events will expose you to the industry’s leading think tanks. You will get the opportunity to acquire tremendous professional knowledge in a few days.

April 15, 2022November 23, 2022

How to Register a Business in the US in 6 Steps

A businessman registering a business online

Business registration in the US may seem like a challenge, but the process is actually quite simple. Whether you’re doing the work yourself or using a service to move things along, there’s little required to get your company up and running. Below are six steps that will take you through the business formation process.

Use ZenBusiness to register your business with ease.

How to Register a Business in the US In 6 Steps

You can register your business in no time by following these six steps. It’s best to perform each step in order to minimize downtime.

Step 1: Choose a Legal Business Structure

It’s one thing to know whether you want to start a business or what type of business to start, but another entirely to understand which legal business structure suits your needs. This important first step sets the tone for your business, dictating tax filing and what daily operations look like. Below are some of the most common business structures new ventures choose:

Sole Proprietorship

If you’ve started up a business but never taken the time to declare a business structure, you’re a sole proprietorship. These single-person business models do not differentiate between personal and business assets, leaving all your funds at risk in the event of a lawsuit or financial misstep.

Partnership

Partnerships represent businesses where two or more individuals own a business together. In a limited partnership (LP), one partner can face personal risk while other partners have limited liability. Limited liability partnerships (LLPs) protect all partners on the personal level from any business-related issues.

Limited Liability Corporation (LLC)

Business owners can start an LLC to create a clear divide between personal and business assets. Should your enterprise face financial debt, your personal assets remain safe and untouchable. An LLC or Limited Liability Company can still be a single-person business similar in structure to a sole proprietorship.

Even though you’re differentiating your personal and business assets, you can still loan personal items to your LLC. You can list office space, cars, computers, and more as business expenses when filing taxes.

You’ll need a registered agent if you’re going down the route to form an LLC, as most states require them. This individual or company accepts legal and tax documents on your business’s behalf. While you can use yourself or a colleague as a registered agent, it’s advisable to use a registered agent service instead.

You can usually get a registered agent when you use an LLC formation service to file for your LLC. Registered agent services are always available to handle documents in a timely manner to avoid penalties you could otherwise face.

Corporation

A corporation separates a business entity from its shareholders (usually the owners). Corporations can be taxed, receive profits and losses, and are responsible for their actions and financial status apart from shareholders. When an owner or shareholder leaves a corporation, it should be able to continue functioning relatively undisturbed.

This business structure isn’t limited to large companies, although small ventures can struggle to keep up with the record-keeping and reporting required. There are two primary types of corporations, known as C-corporations and S-corporations.

C-corporations are more traditional businesses that may have to pay out more in taxes, first when it receives a profit and again when shareholders receive dividends. An S-corporation is a special type of business model designed to avoid the double taxation that comes with a C-corporation.

Companies wanting to pursue S-corporation status have to file additional paperwork with the IRS. Learn about the differences between an LLC and a Corporation here.

Step 2: Decide on a Business Location

Once you’ve identified the business type you’re going to register, you need to choose a location for your company. For some, this means a brick-and-mortar building in or around your city. With so many businesses forming solely online, you may just use this location for tax purposes and where your correspondence arrives.

If you have an ecommerce business, you’re not required to register it in the state you live in. In fact, there are a few states without any state taxes, limiting filings to only the federal level. This can save money if you have an address you can use in one of these locations.

Step 3: Come Up With a Business Name

You’ll need a name when registering your business for the first time. A business name must be unique, and you’ll want it to showcase your venture in a specific but clear way. Start with what makes your business stand out, and brainstorm ideas from there.

Those starting sole proprietorships and partnerships normally use an owner’s name upon business creation. If you want to call it something else, you may need to file a DBA (doing business as) document. Keep in mind that a DBA doesn’t trademark your business name from someone else using it.

While every state has its own rules about naming conventions for business registration, there are some general guidelines to follow. Depending on what you’re registering for, you’re required to include pertinent information such as “LLC” or “Inc”.

You can’t use any terminology that would confuse your organization with a government agency, including terms like “CIA” or “Treasury”. States often restrict words like “historical” or “education”, requiring additional paperwork for approval.

Once you’ve landed on a name, you’ll need to submit the paperwork to the state agency for approval. Names already registered in their system or those filed with unusable terms will be rejected at your expense. Fortunately, you can use tools like the U.S. Patent and Trademark Office to check availability.

Here’s an easy guide on how to conduct an LLC name search.

Ecommerce business owners will also want to verify domain names matching or similar to the business name are available as well. Locking in a cool name won’t do much good if your web address has to be completely different.

Step 4: Get a Federal Tax Number

State registration is essential, but you’ll also need to register your business on the federal level. Doing so requires obtaining a federal tax number for your business. This number, also known as an employer identification number (EIN), acts just like a social security number for your company.

An EIN allows you to submit your business’s tax forms to the federal and state governments alongside other necessary paperwork. The IRS makes it easy to get an EIN quickly and easily through its online EIN form. The site will also let you know if your business does not require this number.

Step 5: Acquire Licenses and Permits

Whether you’re offering products or services to your client base, you’ll want to make sure you have all the necessary licenses and permits to do so legally. These licenses and permits can differ at the federal and state level. The Small Business Administration website has a site you can use to check for licenses and permits you need by entering your industry and location.

Counties and city governments do not typically require licenses or permits for a physical location apart from what the state and the federal government requires. Still, it’s worth looking to ensure you’re not missing anything before commencing sales. Failing to have the necessary paperwork can result in costly fines or place your business at risk.

Step 6: Create a Bank Account

Registering an LLC or corporation offers a means to keep personal and business assets and funds separate from each other. The best way to do so is by opening a business bank account specific to your company.

In most cases, you need to finish the registration process of your business before you can open a bank account. You’ll need to have this documentation to prove you’re a legitimate business owner. It’s up to you whether or not to choose a bank you already have dealings with, and there’s no requirement to work with a bank in the same state you register. Some banks may require an in-person visit, so keep that in mind.

Having a separate business bank account will also help you track how much money is going in and out of your company and how profits look each month. It also looks more professional to have clients pay into a business account instead of a personal one.

What Does It Cost to Register a Business?

Registering a business in the United States is not an expensive process, even if it is a little higher than many other countries around the world. The amount to incorporate varies from state to state and depends on the type of business you’re registering.

Sole proprietorships and some partnerships don’t require registration with the state they’re a part of and avoid fees as a result. The cost to form an LLC or corporation may be somewhere between a few hundred and a few thousand when all is said and done.

Use ZenBusiness to register your business.

Registering a Business as a Foreigner

The United States grants foreigners the same ability to register a business that nationals have. This affords foreign citizens the opportunity to reap the benefits of starting an American firm, including competitive tax rates and access to a large and integrated market.

The Registration Process

Foreign citizens aren’t required to live or work in the United States for business registration. However, you must follow the same steps as an American citizen to legally start and run your company. When creating a business, you’re limited to an LLC or C-Corporation, as anyone outside the US is ineligible to incorporate an S-Corporation.

Non-Americans must also register a business in a US state and are subject to taxes, fees, and requirements that the state holds. Even if you live elsewhere, your business is still responsible for filing federal and state taxes yearly in the United States. The same rules apply for obtaining an EIN necessary to file those taxes, including having a US address.

You’ll also require a US address for opening a bank account on American soil. Most physical banks still require an in-person visit to set up an account, but digital banks are becoming popular ways to establish a US bank account without ever leaving your home.

Use ZenBusiness to register your business with ease.

Working in the US

Believe it or not, owning a business in the United States doesn’t mean you can work there. If you want to run your business from within the United States, you’ll need to get your hands on a visa.

The US offers many different types of visas, from a duration of six months to three years, with the option to extend the length with approval. Depending on the visa, you’ll be able to live and work out of the United States for an indefinite amount of time. Some visas restrict the business activities you can perform.

A green card is another way for non-Americans to register a business in the United States. Residents with a green card have no restrictions on setting up a business of any kind.

Frequently Asked Questions (FAQs) for Business Registration in the US

Business registration in the United States doesn’t have to be a daunting task. Here are answers to some of the most common questions about the topic.

Can My Company’s Name and Address Act As My Registered Agent?

You can use your own company as a registered agent as long as its physical street address exists in the state where you formed it. An individual needs to be present at this location during regular business hours to receive essential documents on your company’s behalf.

Your company may receive important legal information through this registered agent, including lawsuits. You want to make sure to address these documents quickly lest you face severe penalties. When in doubt, it’s best to hire a registered agent service to take care of these documents for you.

Can I Register a Business Name and Not Use It?

You can register a business name in your state and simply hold onto it. This will ensure that no one else can lay claim to a name you like, even if you’re not ready to use it yet.

Should I Get an EIN for My LLC?

An employer identification number (EIN) works just like a personal social security number to give your business a unique identity for tax purposes. This EIN is essential for filing tax paperwork at both the state and federal levels. Also, you can use the EIN to open a business bank account.

How Long Does Incorporation Take?

The time it takes to register an LLC or corporation depends primarily on the state. The process takes on average 10 days, but slower states can require months to verify paperwork before you can start operating. Some locations offer expedited service if you need to get up and running sooner.

Bottom Line on How to Register a Business in the US

Business registration in the United States is a relatively straightforward process once you’ve identified the type of company you want to create. The digital age has made it easier than ever to start a business, and several services offer help in making the process even easier.

All you need is some creativity, research, and enough money to cover setup fees. You don’t even need to live in the United States to own a business there, just a US address to obtain an EIN and open a bank account. Following this guide, you’re a few short steps away from registering a business of your own.

Use ZenBusiness to register your business with ease.

April 14, 2022November 23, 2022

What Is a POS System & How Does It Work?

Keeping accurate real-time sales records, managing inventory, and tracking customer information can be difficult when you’re processing transactions manually. Fortunately, you can use a POS system to streamline these tasks and gather important sales data.

What is a POS system, and why do most small businesses have one in place? A point of sale system includes hardware and software that business owners and staff use to process transactions and payments at checkout. After a customer selects a product in a store or receives a service, they need to pay for it, and this is where a POS system comes in.

How Does a POS System Work?

A POS system records product details of the purchased item, tracks its details, and provides order feedback. This feedback is typically in the form of the total cost of the order to the customer and sales reports to the store owner.

To serve both customer and owner, a system includes software and different types of hardware to get the job done. These include barcode scanners, cash drawers, and computer monitors.

POS Hardware

For a POS system to work, you’ll need the right software and pieces of hardware at the checkout counter. The point of sale hardware market in the U.S. is projected to be worth $9.54 billion by 2025, indicating an increase in use at retail locations. Common hardware that small businesses use to set up a POS include:

POS Terminal

The primary hardware of a sales POS system is the terminal. The terminal is the device where you install the POS software. It can be a desktop computer, a tablet, or a smartphone. You’ll have to connect all other pieces of hardware to the terminal to complete your POS setup.

Monitor/Display

The monitor shows transaction details when you use the various POS hardware. In most retail stores, the display used is a desktop computer. Many small businesses also use smartphones or tablets.

Barcode Scanner

Retail staff use a barcode scanner to capture details about the product on sale. It reveals the price, special discounts, and tax charges on the product.

Card Reader

Modern POS systems include a card reader that allows customers to make payments using credit or debit cards. Credit card reader providers typically charge a monthly maintenance charge and may also charge per-transaction fees.

To use a card reader as part of your retail POS, you’ll need to connect it with your POS software. When you swipe a card through the reader, the POS terminal transmits the card data for approval. If the customer’s bank approves the transaction, you’ll receive authorization to complete the sale.

Receipt Printer

A receipt printer prints out sale receipts after the transaction is done. A receipt is given to customers as a record of the sale, and it also helps businesses keep track of product performance and inventory levels. Receipts also record details such as sales tax, method of payment, and the time and date of the sale. For some business owners, digital receipts will suffice, so a printer may be unnecessary.

Cash Register

A POS system calculates and registers cash transactions using a cash register. Cash registers are often attached to a cash drawer beneath, used for storing cash from payments. Cash registers aid in inventory management and financial reporting when paired with barcode scanners, card terminals, and receipt printers.

Types of POS Systems

There are several types of retail POS systems, each suitable for various businesses. It’s advisable to familiarize yourself with all types to identify the one that’s right for your small business.

Here are the main types of POS systems:

Server POS System

A server retail POS system is one where the data gathered is stored on-premise at the business. This type typically comes with the highest setup costs and monthly maintenance fees. When you have a traditional server system, you’ll need to be on location to utilize it. To create a server POS system, you’ll need to buy hardware from various providers.

Cloud-Based POS System

With cloud-based systems, sales data is stored on the internet instead of an on-location server. Once you’ve installed your chosen POS software into your hardware, you’ll have access to your data as long as you have an internet connection.

Cloud-based POS software works with physical and online stores, unlike the server system that only serves a physical retail store. With e-commerce sales growing each year, introducing cloud-based POS systems into your business can boost growth significantly.

A good example here is the Clover POS system is a popular cloud-based system that allows businesses to complete transactions online.

Hybrid POS System

A hybrid system incorporates features from both on-premise and cloud-based systems. It’s an ideal option if you’d like to have the best of both sides. Hybrid point of sale systems are good for businesses with both physical and online stores. The Lightspeed POS system is an example of a hybrid system that utilizes both on-location and online features.

Mobile POS System

Mobile POS systems use a device such as an Android tablet or iPad as the point of sale. This system typically involves only two pieces of hardware: a smartphone or tablet and a credit card reader.

You can bring POS mobile devices to your pop-up shops, trade shows, and other events outside your physical store. A mobile sale POS system also comes in handy at physical stores to reduce customer queues and speed up checkout. An example is the Square POS system, which you can use on your mobile device without requiring additional hardware.

Features of a POS System

Most POS systems offer the same basic features, while others, such as restaurant POS systems, include additional specialized tools. The following are the features you’ll find in most POS systems for retail businesses:

Checkout
Payment processing
Inventory management
Reporting and analytics
Employee management
Customer relationship management
Multichannel sales

Checkout

Checkout tools are the primary basis of a POS system; hence, this is a feature you’ll find on all point of sale systems. With checkout features, you can easily ring up customer purchases to find out their worth.

Payment Processing

Payment processing is another basic feature found on all POS systems. A POS system allows various payment methods, from credit and debit cards to cash.

To use these, you’ll need additional hardware such as a card reader or cash register to process sales. For online ordering, you’ll need POS software that enables digital payments.

Inventory Management

When you ring up a sale, POS software brings up so much more than price information. It also shows crucial information about inventory levels. You can easily tell when a product needs restocking with the inventory management feature.

Reporting and Analytics

Retail point of sale software draws various insights from daily sales data. You can identify products that sell the best, those that take long to clear, and identify intervals with the most sales using POS data. With this data, you can plan everything from restocking to marketing campaigns.

Employee Management

Most POS systems come with an employee management feature to aid staff scheduling and tracking. With this feature, you can track what each staff member is doing at any moment, how many hours they worked, and set permissions for each of them. This feature also helps prevent losses due to staff fraud, such as after-sale transaction modification.

Customer Relationship Management

A customer relationship management (CRM) tool gathers important data about items bought, the amount spent, customer contact information, payment methods, and returns. It gives you important insight on what products a certain customer is interested in, their spending limits, and how often they shop.

With this information, you can create more targeted marketing campaigns that target each customer’s tastes. With the collected data, you can also enroll them in loyalty programs and easily provide solutions in case of return or exchange requests.

You can get more from your POS customer relationship management tool by integrating it with your VoIP caller phone system. This gives staff direct access to customer data when they have queries or complaints. You’ll need the best VoIP app for your business to benefit from this integration.

Multichannel Sales

Does your retail business have multiple locations serving as points of sale? Perhaps you have an online store and also sell in brick-and-mortar stores and mobile locations. A point of sale with a centralized multichannel sales feature consolidates all of your sales data from each POS into one place, making it easy to keep track and gather insights.

How To Choose a POS System for Your Small Business

What type of POS system is convenient for you, and which features does your business need? Asking these questions will help you find the best POS system for your business. Here are factors to keep in mind when choosing a POS system for your small business:

Hardware

Each type of POS system has hardware requirements you must meet to get it working. With an on-premise system, you’ll have to purchase or rent multiple pieces of hardware, including a display, barcode scanner, receipt printer, and card reader. If you want to go with a cloud-based system, you may only need a mobile device and a card reader.

Ease of Use

A good POS system should be easy to use, both for you and for your customers who are checking out by themselves online. An easy-to-use system streamlines checkout activities and saves time for everyone involved.

Features

Besides checkout and payment processing, what other features would you like to have on your point of sale system? Some of the vital features to look out for include inventory management, analytics and reporting, and customer relationship management. With these features, you not only speed up checkout but also keep an eye on your inventory and make informed marketing decisions.

Credit card processing software is also a crucial feature for businesses today. This is due to the rising preference for credit card payments among consumers, which the Federal Reserve reported to total $97.04 trillion in 2019.

Scalability

Choosing a point of sale system that will scale with your business is advisable. Otherwise, if your system is unable to keep up with a growing business, you might end up losing customers due to an unsatisfactory shopping experience.

For example, you might not be able to take payments quickly at checkout leading to long queues in your store. It might also be difficult to keep track of all your customers. This means that loyalty programs might be difficult to implement.

As your business grows, you’ll need more elaborate and specialized features to make the most of your POS data. If your system cannot keep up, it’ll be challenging to get the insights you need to improve or plan your business operations. Opt for a system that scales with your business to avoid hiccups and save you from spending money on new hardware or software each time your needs change.

Reviews

Before purchasing a POS system, check what other business owners say about it. Reviews will give you a good idea of how the system works and performs.

Note that what works for one store won’t necessarily suit you because the type of business determines the ideal software. For instance, if you own a restaurant, you’ll be better off checking reviews for the best restaurant POS systems rather than checking feedback from general retail store owners.

Customer Support

It’s wise to choose a POS system from a provider with good customer support. In case you run into any problems with your system during business hours, you should be able to reach them instantly for assistance. This will prevent delays caused by a problematic system.

Benefits of a POS System

The right POS system can bring several benefits to your business. These include:

Time savings
Improved customer experience
Important insights
Increased accuracy
Multiple payment methods

Time Savings

A point of sale system saves a lot of time during the checkout process. You can check product details within moments, process payments, and gather important customer information. This takes a much shorter time than if you were checking products manually.

Improved Customer Experience

Thanks to cloud-based POS systems, customers can shop from an online store without requiring assistance from an in-store employee. They can also purchase items on the go without joining long checkout queues.

Important Insights

Using a POS system leaves you with a lot of useful data you can use in marketing, inventory planning, and goal setting. Features such as inventory management allow you to see your best-selling products and the customers buying them.

Over time, you’ll be able to identify periods when you should stock up more or switch more attention to other products based on seasonal trends.

Increased Accuracy

There’s much less room for errors when using POS software to ring up sales than when doing it manually. This accuracy also extends to when you have to collect and merge data from multiple points of sale. With the software doing the heavy lifting, your reports are guaranteed to be accurate and well-organized.

Multiple Payment Methods

Nowadays, it’s important to give your customers a wide array of payment methods to choose from. Gone are the days when most sales were completed with cash transactions. Today, the most common in-store payment method in the U.S. is credit cards, followed by debit cards. Cash comes third in popularity, followed by digital wallets. Go for a POS system that allows you to integrate all popular payment options into your business.

Frequently Asked Questions (FAQs) for What Is a POS System

Here are answers to frequently asked questions about POS systems.

What Is a POS System?

POS systems refer to the software and hardware used at a business point of sale. A point of sale is where a sale transaction takes place, that is, where the customer pays for their purchase. Point of sale POS systems capture and produce important data about the transaction, including the total price, payment, and product type.

Is a POS System a Software?

POS systems include software that functions as the operating system that tracks sales and customer data. When you have POS hardware, you’ll need to get the right point of sale software to process information and accept payments during transactions.

How Does a POS System Work at a Small Business?

At small businesses, POS systems work by providing a digital point of sale where customers complete their purchases. A small business POS system reduces the need for paperwork sales records that can be time-consuming and error-prone.

How Much Does a POS System Cost?

The cost of a point of sale system varies with the POS provider, but traditional POS systems are typically more costly to install and maintain than cloud-based systems. POS cost is heavily influenced by the type of hardware you’ll need and whether you’ll require specialized software.

Conclusion: So What Is a POS System?

To find the best POS solutions for your store, always begin with your business needs in mind. Your needs will dictate which POS features are vital for you, after which you can look for POS system providers offering what you need.

Remember to choose a system that will scale with your business for maximum value.

April 13, 2022March 2, 2023

14 Payroll Laws You Must Know in 2023

Payroll laws determine how you pay your employees, calculate payroll taxes and file them. Failure to comply with these can result in fines, interest on unpaid wages, employment lawsuits, and in the worst case, you may have to shut down your business.

Getting yourself familiar with payroll laws might make you feel just a little overwhelmed. Especially because you find yourself surrounded by legal jargon and technicalities in both federal and state laws.

We’ve summarized the most important payroll laws below in plain language. And although this is a good 7-minute read, consider speaking with a tax professional or financial advisor for the most current laws and advice for your business.

Got confused with payroll laws? check out some of the best payroll services for small businesses

14 Important Payroll Laws You Don’t Want to Break

Here’s a list of the most important payroll laws every business owner should know:

Minimum wage: Must pay state minimum wage if its higher than federal wage
Overtime pay: Must pay for non-exempt employees
Pay frequency: Must pay employees on time
Payment methods: Must offer multiple options at times
Payroll Taxes: Must calculate taxes correctly and pay them on time
Tax forms: Must file payroll tax forms on time
Paid family leave: Must send paid family leave benefits to the state
Paid sick time: Must pay for state-mandated paid sick leave
Worker’s compensation insurance: Must buy for most states
Wage garnishments: Must manage court-ordered garnishments
Recordkeeping requirements: Must keep payroll records for at least 3 years
Paying tipped employees: Must comply with state tip reporting laws
Final paycheck: Must pay a worker’s last paycheck on time
PTO payout: Must pay employees for earned but unused paid time off

Minimum Wage

The Fair Labor Standards Act (FLSA) states that you must pay your employees a minimum of $7.25 per hour. However, this might not always be the minimum wage you need to pay your employees.

Some states have higher minimum wage requirements. For instance, if you’re in California, you must pay your employees at least $15 per hour. We recommend you check your state’s minimum wage law and compare them with federal requirements. You are required to pay whichever wage rate is higher.

Overtime Pay

Some employees are exempt from overtime pay, while some are not. You must pay non-exempt employees overtime if they work more than 40 hours a week. According to federal law, employees must be paid one and half times their regular rate for hours worked overtime.

Some states have additional overtime pay laws. For instance, in some states, you may have to pay overtime if an employee works more than 8, 10, or 12 hours daily. You may have to repay the wages along with late fees and penalties if you fail to comply with overtime laws. Not just that, you will have to eventually pay additional taxes on late wages too.

Pay Frequency

There are typically four different payroll schedules businesses choose to use. You may choose to run payroll weekly, biweekly, or monthly. However, each state has a minimum pay frequency law to determine what is the longest period you can have between paydays: a week, two weeks, or a month.

Payment Methods

Usually, you’re free to choose which payment method you use to pay your employees. However, it’s better to check your state law on which payment methods are allowed. For instance, state laws may not let you pay with pay cards or direct deposits if:

You don’t have the employee’s permission
You don’t offer additional payment options like paper checks or cash
You don’t cover payment fees
You don’t notify employees of the fees

It’s always a good idea to check the payment options you can use before you run payroll to avoid unnecessary trouble.

Payroll Taxes

When running payroll, you must calculate payroll taxes correctly and withhold that money from paychecks. You are also required to pay those taxes on time to stay clear of tax problems.

You have to consider both federal and state tax rates when calculating taxes, and this can at times be tough. This is why we recommend you use payroll software. Payroll software automatically calculates taxes according to your state and pays them in time.

Tax Forms

We’re not done with taxes yet. After correctly calculating and paying taxes, you also need to file them on time. You must report this information to the IRS and relevant tax authorities. This includes submitting the quarterly and year-end tax forms like the W-2 and 1099-NEC.

Quality payroll software like Square Payroll can handle tax filing for you on its own. This means you won’t have to face any failure to file penalties.

Paid Family Leave

Some states mandate businesses to give their employees PFL (paid family leave). However, employers don’t have to pay this money on their own. According to the PFL law, employers must withhold funds from employee wages and remit them to the state. The state then sends paid family leave money to workers that qualify.

Paid Sick Time

Not all states mandate employers to provide paid sick time. But this is a popular law and will soon expand to most states. Paid sick time laws ascertain the number of paid hours an employee can use when sick. These laws also determine how employees can use sick time, the maximum number of hours one gets per year, and whether unused paid sick time carries to the next year.

Workers’ Compensation Insurance

Businesses are rarely exempted from this law. Texas is the only state that doesn’t require employers to purchase workers’ compensation insurance.

All other states require you to purchase workers’ compensation to make sure there’s coverage for potential unexpected expenses like on-the-job accidents and employee injuries. So, if you’re starting a business out of Texas, you don’t want to ignore workers’ comp insurance.

Wage Garnishments

Sometimes you may receive a legal notice to withhold funds from an employee’s paycheck. This usually happens when an employee has unpaid debt or is behind on child support and authorities take their funds directly from their employer to cover it. This is not to be taken lightly. You may have to pay that money out of pocket if you fail to act on court orders.

Recordkeeping Requirements

Employers must keep payroll records on file for at least three years. Many employers make the mistake of discarding payroll information sooner than that and may incur penalties if asked to provide records from the past.

The best practice is to keep all relevant information such as paycheck stubs, tax forms, and timesheets for at least four years. An online payroll service like Square Payroll or Gusto can help you in this regard. It records all the relevant information and keeps it safe in an online database so you don’t have to worry about recordkeeping.

Paying Tipped Employees

If you operate a restaurant or any other business where employees frequently receive tips, you should be aware of tip reporting laws. The federal tipped minimum wage is $2.13 per hour. You may be subject to a higher tipped minimum wage by your state, and in that case, you’ll have to go by the state law. Also, we recommend restaurant owners use restaurant payroll software to help them run payroll with ease.

Final Paycheck

This law governs when you pay an employee’s dues if any when you terminate their contract or they quit on their own. States like California require employers to pay all dues to the employee at the time of termination. Other states like Washington and New York give employers until the next payday to clear final paychecks.

PTO Payout

Paid time off (PTO) laws vary from state to state. Some states may not have a PTO policy while some do. According to this law, if you offer paid time off, you have to pay employees for earned but unused paid time off at the end of the financial year or when terminating an employee’s contract (depending on state, of course).

How to Avoid Payroll Lawsuits?

If you’ve just started your business and are still learning what payroll is and how to run it, you should take extra care to avoid payroll lawsuits. The first step would be to familiarize yourself with the most important laws. If you’ve read the sections above, you’ve already done that.

Still, you must be really meticulous if you’re running payroll yourself. There are a lot of minute details you need to consider for both federal and state laws, and it becomes difficult at times to stay updated with them. If you want to know how to do payroll the safe way, go with quality payroll software, or hire a tax advisor.

Investing in payroll software can keep you safe from all kinds of payroll troubles by taking over and automating all aspects of paying your employees. This way, you can rest assure you pay your employees and file taxes correctly and on time.

A quality payroll software automatically considers all the payroll laws your business is subject to by your state. You will no longer have to worry about payroll and spend long hours filing taxes. With payroll automated, you can concentrate on things that matter the most.

Best Payroll Software to Avoid Payroll Problems

We’ve shortlisted some of the best payroll software that helps you comply with all payroll laws with ease.

Gusto – Best full-service platform
Square Payroll – Best for ease of use
Rippling – Best for Mid-sized Businesses

Gusto: Best Full-Service Platform

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Gusto is one of the best payroll processing software out there. It lets you expedite all aspects of running payroll from payment processing to filing taxes. Moreover, it also offers other business management features which makes it an all-in-one solution for all your administrative tasks.

Why we chose it: Gusto offers automatic payroll processing, auto tax filing, HR support with information about payroll laws, and many other features making it an excellent choice for payroll law compliance.

HR support center with payroll laws information
Unlimited payroll runs
Auto processing and submitting payroll taxes

HR assistance only for Concierge users
Customer service is slow
Costlier than other options

Pricing

Core: $39/month + $6/month per person
Complete: $39/month + $12/month per person
Concierge: $149/month + $12/month per person

Square Payroll: Best for Ease of Use

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Square Payroll is one of the easiest to use payroll processing software. If you work with hourly wage contractors only, this might be the best option for you. Although it works for both salaried employees and contractors, Square charges no base fee for the contractor-only plan. It also offers useful features like automatic payroll, tax filing, and tax form submission.

Why we chose it: Square Payroll is easy to use, sophisticated, and offers all the features you need to comply with payroll laws in your state.

Low pricing
Easy to use
Integrates with other tools

Basic HR functionality only
Slow customer support
Basic payroll reports

Pricing

Pay Employees & Contractors: $35 monthly subscription + $5/month/per person paid
Pay Contractors only: $5/month/per person paid

Screenshot of Square payroll overview, tax forms

Rippling: Best for Mid-sized Businesses

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Rippling offers a great combination of HR and payroll functionalities. It is a brilliant option for mid-sized businesses as it lets employers simplify personnel management. It offers a lot of integration options too for syncing with other management services.

Why we chose it: Rippling is great for mid-sized businesses that are looking for greater insight into their payroll and want to streamline their employee payments.

Reasonable price for mid-sized businesses
Can pay any employees internationally
Integrates with hundreds of apps

Quote-based pricing
Can’t completely automate payroll
1-year minimum contract length

Pricing

Rippling has a quote-based pricing system. Generally, you can expect it to cost $8/month/per person paid.

Frequently Asked Questions (FAQs) for Payroll Laws

Here are some of the most frequently asked questions about payroll laws. Have a quick look at them to resolve any queries you might have.

How to keep up with different payroll laws in different states?

If you have businesses in different states and have to keep up with different state laws, the best way to move forward is to use quality payroll software like Gusto or Square. These payroll services automate payroll processing and calculate payroll taxes and take care of all other aspects according to state and federal laws.

Why is payroll compliance important?

Payroll compliance is important if you don’t want your business to run into late payment fines, incur interest fees on unpaid wages, or face payroll lawsuits. Your company may even face the risk of being forced to shut down in the worst cases of payroll non-compliance.

What is the most important payroll law?

The most important payroll laws are to pay employees correctly and on time, and file payroll taxes on time. These two are the most basic payroll laws.

Bottom Line on Payroll Laws

A payroll nightmare is something you don’t want your business to face. Make sure you follow federal and state payroll laws to stay in the clear. The easiest and most straightforward way to do that is to use a quality payroll processing software that can automatically process payroll and file taxes on its own.

April 12, 2022November 23, 2022

12 Common Payroll Mistakes & How to Avoid Making Them

Work colleagues discussing about payroll mistakes

Payroll mistakes can leave a black mark on an otherwise exemplary company profile. Failure to comply with federal, state, or local rules can lead to crippling fees or job applicants looking beyond your business to one more accountable. This article covers 12 common payroll mistakes and the tools you need to avoid them.

1. Being Infrequent With Payments

Your employees rely on their paychecks as much as you rely on their services to make your business succeed. For some, it’s crucial to have a stable source of income at set times of the month to make ends meet. These individuals may not have the luxury of being able to wait an extra day or more for you to wrap your head around the week’s payroll.

If you commit to paying your team weekly or bi-weekly at hire, it’s wise to honor such an agreement. While there are no federal laws surrounding how often to pay employees, some states have frequency requirements and could penalize your business for missing them. Your staff can also lose trust in you, resulting in a high turnover or the inability to bring new workers abroad.

Solution: Set Up Auto Payroll

Choose one of the best payroll apps to help you prevent this payroll mistake by automatically paying employees at set intervals. These platforms can save salaries, hourly rates, and even log hours. It still may require a little work on your end to make sure everything is correct, but you’ll receive reminders to do so.

2. Miscalculating Payroll Amounts

Accounting inaccuracies can lead to under or overpaying employee wages for the work they perform. These mistakes can go unnoticed, leading to financial issues down the road. Even if you catch them, it’s time-consuming to fix the problem.

In the case of the former, you’ll need to remedy the situation by compensating the worker for the amount you owe them. Depending on when you discover the discrepancy, this can lead to an expensive billing cycle that you didn’t plan for.

On the other side of the coin, there’s no joy in having to wrestle money back from an employee whom you overpaid. Federal and state laws allow you to reclaim the money, but it can be a challenging (and hurtful) process. Some state laws do have restrictions on how this process works, adding to the confusion.

Solution: Let a Program Calculate Totals for You

To help alleviate this issue, build an employee database in a payroll software, such as Gusto, with salaries and hourly wages. You can use the platform to pay out a salaried rate every pay period and calculate totals for hourly employees by simply having your team log their hours.

3. Miscalculating Hours or Overtime Amounts

Salaried employees are pretty straightforward, and you can usually send them the same check every pay period. Hourly employees, however, are not quite so simple.

First, there’s the matter of how many hours you’ve agreed upon for them to work per week. You probably won’t pay them to eat lunch, so you need to take that time into account when calculating wages. If they end up working beyond 40 hours, it’s essential to follow your state’s guidelines for overtime and pay accordingly.

Failure to track an employee’s hours and distinguish overtime can be a severe issue. In fact, it’s illegal not to pay workers for any overtime they’re due.

Solution: Digitally Track Employee Hours

Like physical timecards of old, digital replacements offer a means for employees to clock their own hours by signing in and out online. They can use the system to record breaks for lunch and will make it easy to note how many hours beyond 40 an individual works per week. The digital record is a failsafe in case of an issue and makes it a breeze to pay hourly employees their keep.

4. Listing Employees Mistakenly As Exempt or Non-Exempt

Listing an employee as exempt or non-exempt has a bearing on whether or not they are entitled to collect overtime pay. Paying a worker for overtime when they should be exempt is bad, but failing to pay a non-exempt employee for hours worked beyond 40 is much worse.

You’re required to reimburse non-exempt personnel for overtime hours worked, and you could get penalized for not doing so in the first place. This can also lead to trust issues with employees, even when the matter is unintentional.

Solution: Understand Fair Labor Standards Act (FLSA) Guidelines

Take the time to read all FLSA guidelines to avoid making these kinds of mistakes at any time during an employee’s time at your company. For this specific matter, an employee is only exempt if you pay them a minimum of $684 per week or $35,568 as a salary, and their job duties directly affect operations.

5. Incorrectly Identifying Employees and Contractors

As a business, you have a legal responsibility to declare who your employees are and who are independent contractors. Independent contractors are usually temporary workers, and you are not required to withhold any taxes for them. They are generally outside of a business’s benefits, such as vacation time and insurance.

Misclassifying an employee as an independent contractor will lead to a large amount of payroll and income taxes due that were not properly withheld. These taxes (and fees from the misclassification) can spell disaster for a company. Learn more on how to process payroll for contractors.

Solution: Have the Knowledge to Make the Right Decision Up Front

Both the Department of Labor and the Internal Revenue Service (IRS) have tests you can use to determine if your new hire should be classified as an employee or a contractor. If you’re still unsure, you can fill out an SS-8 form to have the IRS decide for you.

6. Forgetting to Account for Vacation Time or Holiday Pay

No states require employers to offer vacation time or holiday pay in any capacity. These incentives certainly go a long way on a job description and can help fill your empty seats.

This also means it’s up to you to assign and track hours for paid or unpaid vacations and any holiday pay you choose to reward your staff with. You may not reward all your employees the same way, and workers will take vacation at different times of the year. It becomes easy to overlook paid leave or incorrectly accrue paid time off.

Solution: Use Software for Tracking Rewards

The simple solution is to use a system that logs and tracks paid time off and holidays for you. It can also accommodate employees who accrue vacation days faster than others. Best of all, employees can request vacation days within the app, and it will automatically deduct time after your approval.

7. Overlooking Payroll Taxes

Each time payroll goes out, the government needs to collect taxes on those amounts. These taxes can come from the federal, state, and even the local level. To add to the confusion, your company may not be required to pay every tax. Failing to submit the proper taxes results in fines to your business.

Solution: Do Your Tax Homework

Take the time to understand all the tax laws that apply to your business. Be sure to travel from the federal level down to your local community so you don’t miss anything that could bite you later.

Keep in mind that this isn’t a one-time process, as payroll tax laws can change seemingly overnight. Even if you’re not in the know, you’re still responsible for paying the correct amounts at each government level. Some payroll apps can acquire this information for you after entering your city and state into the system.

8. Missing Tax Deadlines

You need to pay payroll taxes regularly, but the same holds true for income taxes. As a company, you must withhold an amount from your employee’s wages. Income taxes are typically due on April 15th every year for U.S. companies.

Employees use W-4 forms to decide how much they want withheld for income tax. It is your responsibility to correctly do so and get those funds to federal, state, and local officials in time. Since each employee withholds a different amount, the process quickly becomes confusing. One mistake can lead to penalties or fees from the government.

Solution: Hire a Tax Expert

It’s never a bad idea to bring in an accountant or tax professional to help you set up your system and calculate withholdings. It’s a time-consuming process that you’ll want to have someone focus on until you’ve ironed out all the kinks.

Beyond human help, some payroll software solutions can automate this process for you, sending out the correct payments to government agencies as needed.

9. Not Keeping Payroll Records

Not keeping a detailed payroll record for your business is a big no-no. The Fair Labor Standards Act (FLSA) requires companies to keep meticulous payroll records for three years before you can dispose of them. The IRS would like to be able to see tax information up to four years after filing.

Doing your entire payroll by hand can lead to multiple boxes of physical paper by the time those three years are up, especially if you have a larger staff. It can be a chore to dig through all that information to locate the one file you need to prove your case when a discrepancy arises.

Failing to provide this information when requested leads to headaches with the government and applicable fees and penalties.

Solution: Keep Your Records Digitally

Logging all your payroll information in a digital format reduces your reliance on paper and requires nothing more than a computer to store locally or cloud storage. It becomes easy to locate information in a pinch through search filters and sorting through specific timeframes.

Read: How To Conduct a Payroll Audit For Small Business in 8 Steps

10. Lacking Backup Records

You could lose all your payroll records in the event of a catastrophe in your place of business. Natural disasters leave little time to locate pertinent documents or computers that house this essential data. Disaster or not, you must have access to these records at any given time.

Solution: Back Up Your Files

You should always keep a backup of these documents or files off-site in the event something does happen to the originals. The simplest solution is to put the data on an external hard drive or use a cloud service to access them from anywhere.

11. Failing to Stay Up to Date With the Latest Laws and Regulations

Laws and regulations designed to protect your business and your employees change all the time. As new programs emerge, missing out on key details could leave you playing catch up with new requirements that can cause delays in processing or penalties for noncompliance. Missing a change to minimum wage, for instance, could leave you playing catch up with money you didn’t budget for.

Solution: Follow the Letter of the Law

Having an acute eye on updates to payroll regulations in your state can save you time and money. Being able to proactively make changes typically results in a smoother process than trying to recover down the road.

12. Training Too Few People on How to Use Payroll

Once you have your payroll system up and running, you want to make sure it keeps rolling smoothly along the tracks. You can’t always be bothered to run the numbers every time payroll is due, and many companies make the mistake of teaching just one other person how to handle such a monumental task.

Vacations and sickness creep in, and payroll can fall through the cracks if this person isn’t around to send everything out on payday. Even if someone else does step forward in a pinch, this can lead to payments not processing in time or costly mistakes with the data.

Solution: Train a Team of People

Think through worst-case scenarios, and then train a team of people how to do payroll, so they can handle all (or portions of) payroll when the need arises. Such a move can prevent issues that can lead to upset employees or loss of trust that can hurt work morale and performance.

Bottom Line on Payroll Mistakes

Staying up to date with all the rules and regulations surrounding payroll can be a daunting task. Payroll mistakes can be simple oversights, but still wreak havoc on budgets, employee satisfaction, and your company’s desirability as a place to work.

Fortunately, payroll software tools can help navigate a lot of these nuances for you. These services can automate payments, file taxes for you, and even alert you when a new regulation comes down the pipeline. No matter what, staying compliant is vital for having a fruitful business for years to come.

April 11, 2022November 23, 2022

How to Register a Domain Name in 4 Steps

Registering a domain name is one of the first few important steps in getting your website up and running. It won’t take you more than a few minutes to register a domain name, but it does need some thought. Coming up with a suitable domain and registering it correctly ensures you get off on the right foot in building your online presence.

How to Register a Domain Name In 4 Steps

Domain name registration won’t take you more than a few minutes, even if you’re a beginner. That said, choosing a unique domain name and making sure it’s available is the hard part. If you go with a quality domain registrar, it’ll facilitate you through the next steps until you’re ready to get started with web design. Here’s a step-by-step guide to registering your domain name in just a few minutes.

Screenshot of Bluehost Domain Names page — Source: Bluehost

Step 1: Find a Suitable Domain Name Registrar

You can’t register a domain name on your own. The ICANN (Internet Corporation for Assigned Names and Numbers) controls domain registration on the world wide web and has accredited private companies as domain registrars. These companies reserve, register and manage the domain on your behalf.

Finding a suitable registration service takes precedence over choosing a domain name because the right registrar will facilitate the domain finding process. You’ll find hundreds of domain registrars out there, but you’re better off sticking with the most popular ones. We’ve shortlisted three of the best domain registering services below:

1. Bluehost

Bluehost is a leading domain registrar that offers a vast range of services including web hosting, website building, and professional marketing services. You can buy a .com domain from Bluehost starting from $12.99/year. You might as well get a free domain with its shared hosting or website builder packages.

2. HostGator

HostGator is a web hosting service that also offers domain registration. You can register a .com domain with it for as low as $12.95/year. You can also transfer a domain you already own to HostGator. Like all quality registrars, HostGator offers a free domain if you buy one of its hosting plans.

3. Namecheap

Namecheap is one of the most popular and cheapest domain registration services out there. You can get a .com domain with this registrar for as low as $0.98. Namecheap also offers the most affordable hosting plans that come with a free domain name. Go for this one if you’re working on a tight budget and don’t want to compromise on quality.

Step 2: Choose a Domain Name

If you’ve already finalized your brand’s name, your domain name should ideally be the same. But this is only possible if that domain name is available. In case it’s already taken, you’d have to work around a similar domain with a few extra characters or a different extension.

But if you’re starting a business and still deciding on a name, it’s better to take both processes together. Your domain name should be short and sweet, easily memorable, and should be relevant to your business and what you represent.

Finding the perfect domain on the first search is rare. Consider yourself lucky if you do. If the domain you’re looking for is already registered by another individual or company, you’d find yourself on a result page like this:

Screenshot of Bluehost domain search when a domain is unavailable

In this case, the registration service offers you similar domains with different extensions. Note that if you see a domain is unavailable on one domain name registration site, you won’t be able to get it on another. All registrars use the same database from ICANN.

Step 3: Complete Domain Registration

If you’ve found an available domain, proceed to purchase it. This is one of the easier steps and you’re only required to enter your credentials and make a payment.

The registration service asks you for your billing information and payment information. Click on the purchase button and voila, you’ve registered a domain name.

Screenshot of Bluehost domain name registration, billing information page.

You need to remember that a domain is not a one-time purchase. It’s more like you’ve rented that domain name for a year and will have to pay a recurring fee every subsequent year. At most, you can buy a domain name for 10 years by prepaying at once.

Step 4: Verify Domain Ownership

You can’t get your website live on your domain immediately after buying it. It can take some time for the domain registrar to update the official domain registry before you can work on it. This may take a few minutes or up to seven days. The average waiting period is about two days.

Finally, you’ll receive a registration confirmation email at your email address when the process is complete. Depending on your registration service, you may or may not receive a verification link inside the email. Click on the link to verify your contact details and complete domain registration.

Which Domain Registrar is Best?

Having trouble deciding which domain name registrar to go with? In this section, we’ve summarized the best features, pros and cons, and pricing plans for the top registration services to make your decision easier.

Bluehost

Visit

Bluehost isn’t the cheapest option but if you’re looking for the most reliable domain registrar and web host on the market, this is it. Apart from domain registration, Bluehost offers a vast range of services which makes it a one-stop solution to build your website from scratch.

Its current popular web hosting plan gives you a free domain for one year, and a free SSL certificate at just $2.95/month. However, the plan will renew at higher regular rates. Read the Bluehost review to learn more.

Low starting prices
Reliable uptime
Easy domain management

Higher renewal prices
Not the cheapest domain registrar
Constantly tries to upsell services

Pricing

If you want to purchase a domain only, Bluehost lets you register a .com domain at $12.99 for the first year. Expect the renewal rate to be higher. Of course, you can get a cheaper domain too but that will have a different extension. Here are the starting prices for different domain extensions offered by Bluehost.

Screenshot of Bluehost domain name prices

HostGator

Visit

Hosting over 10 million domains, HostGator is one of the most popular names in the industry. It was originally a hosting service that gradually expanded its services to domain name registration and website building.

HostGator’s all-in-one package includes hosting, a free domain, an SSL certificate, and easy WordPress installation starting at $2.75/month. Read our full HostGator review for an in-depth look.

Transparent pricing
99.99% uptime guarantee
Responsive customer support

Plans renew at higher rates
SEO tools, backups cost extra

Pricing

The starting price of registering a .com domain with HostGator is $12.95/year. This’ll renew at $18.99 for subsequent years. These prices are slightly lower than those offered by Bluehost. Here are the prices for some domain name extensions from HostGator.

Screenshot of domain extension prices from HostGator

Namecheap

Visit

As the name suggests, Namecheap is essentially a domain name registrar and not just any registrar. It offers domain names for the lowest prices out there. Not just that, Namecheap also offers quality web hosting services now. Its web hosting plans are quite affordable too.

Namecheap’s shared hosting plan offers a free domain, hosting, 20GB SSD storage, and free CDN. All this comes at a starting price of $1.88/month. You pay $21.88 for the first year, but this plan renews at $42.88. Read our complete Namecheap review to learn more about its features.

Most affordable domain registration
Transparent pricing
Quality hosting

Inconsistent customer support
Higher renewal rates
Charges domain transfer fees

Pricing

As mentioned above, NameCheap offers domain names at one of the lowest prices. You can get a .com domain name for as low as $0.98 with current promotions. However, the usual prices are higher. Here are the current domain registration prices from NameCheap.

Screenshot of domain registration prices from NameCheap.

How to Choose the Perfect Domain Name

Your domain name shapes your brand identity. A well-chosen domain name serves you well in every department from branding to developing your site’s SEO strategy. This is why we recommend putting time and thought into choosing the perfect domain. Here’s a short guide just for you.

Your website domain should represent your brand: If your brand’s name is Apple, then your domain should ideally be apple.com. We understand that this is not always possible, we’ll come to that later.
Choose a short domain name: The shorter it is, the better. Longer names are difficult to remember and don’t look as catchy. Aim for something in the range of six to 14 characters.
Include a keyword you want to target: Your domain identity contributes to your site’s SEO. If you’re starting an online store that sells tires, include the keyword “tires” in your domain to rank better.
.com is king: If you can find an ideal .com domain, it should be your first choice. This is simply because .com domains are the most popular. However, there are no technical or SEO reasons why you shouldn’t go with a different extension.
Avoid numbers and special characters: Try to stay away from numbers and any other special characters in your domain. It’s better to stick with letters only.

What to Do if Your Desired Domain Name Is Unavailable?

Fret not. There’s always a workaround. If you are willing to change the domain a little bit, try the following:

Add a suffix: If the domain newyork.com is unavailable, try adding a suffix and searching for names like newyorkcity.com or newyorklove.com. Adding a short word and relevant at the end of your desired name can help.
Add a prefix: Similarly, you can try adding a word before the domain name. For example, if computers.com is unavailable, try techcomputers.com or thecomputers.com.
Try a different extension: This is a brilliant solution to keep the same words but with a different top-level domain. This also adds novelty and uniqueness to your website’s identity. For instance, try switching tech.com with tech.io, tech.ai, or tech.org.

But if you’re adamant about getting your hands on an unavailable domain, try searching for it on your browser’s search bar. If it’s up for sale, you will find yourself on a page that mentions the domain is for sale and gives you the owner’s details so you can negotiate a price.

If a domain has an active website on it, it’s unlikely the owner will sell it anytime soon. But you can try your luck by reaching out to them and proposing a deal.

When Should I Register My Domain Name?

The answer seems obvious: register a domain when you want to build a website. But it’s not that simple. The thing is, good domain names are purchased quickly and you need to act swiftly in order to secure the perfect domain name for your business.

If you’ve come up with an excellent domain name for your website and you’re not ready to build a site yet, you should still purchase it right away. You never know when someone else will buy it. Registration services like Namecheap are best for reserving your domain name at the lowest price.

Even if you’re unsure about whether you’ll be able to build a website in the future, you can still buy a good domain as an investment. You can always sell it at a higher price to someone who needs it.

Frequently Asked Questions (FAQs) for How to Register a Domain Name

If you have more questions about domain registration, here are some of the most common questions people ask about it and the answers to them.

Can you register a domain name on your own?

No. The Internet Corporation for Assigned Names and Numbers (ICANN) allows only accredited registrars to register and manage domains. You can only register your domain name through accredited registrars like Bluehost, HostGator, and Namecheap.

How much does a .com domain cost?

The cost for registering a .com domain for a year varies from registrar to registrar. The cheapest registration services like NameCheap offer to register a .com domain for as low as $0.98. However, the average cost for a .com domain ranges from $8.27 to 29.99/year.

Can I get a .edu domain?

The .edu domain is reserved for educational institutions. You can only register for one if you’re a registered educational institution or if you can prove you’re a non-profit organization working in the educational sector.

How do I know if a domain name is taken?

A simple search for the domain in any domain search with a registrar will let you know if a domain name is taken. You can also look it up with the official ICANN registration data lookup tool.

Bottom Line on How to Register a Domain Name

Registering your domain is an essential but simple step in building a website. All you need to do is choose a suitable domain name, find a registrar and register it within a few minutes! Coming with the ideal name remains to be the toughest part where you have to consider multiple factors. You may have to go with an alternative because your first choice will not always be up for grabs.

That said, choosing the right registrar is also crucial. The right registration service can help you get a domain for free along with a free SSL certificate if you buy one of its hosting plans. We’ve shortlisted Bluehost, HostGator, and Namecheap for the best domain name registration services at a reasonable price.

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