Be aware: IRS is starting to send letters to companies asking them to self-examine their retirement plans before selecting them for an audit. The agency’s Employee Plans department recently announced a compliance pilot program beginning in June 2022. Plan sponsors…
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The highest inflation rate in over 40 years combined with a competitive job market may have your firm feeling pressure to increase wages for your employees. According to a U.S. Compensation Planning Survey from asset management firm Mercer, more than…
Fair scheduling laws are the latest trend employers need to be aware of to stay compliant and avoid big payouts and expensive legal battles. In response to unpredictable schedules for workers in a variety of industries, including food service, retail…
Give your Payroll team the heads up: There's a new spear phishing scam email making the rounds that's attempting to steal their account credentials by trying to convince them to access a fake version of IRS e-Services. When cybercrooks steal…
As employees return to the office, you may need to update the various federal labor law posters you have to conspicuously display in the workplace. By law, employers must update these posters regularly so employees can see them and know…
New research shows nearly 1 in 10 invoices are duplicates, meaning your A/P department might be double-paying vendors without even realizing it. That’s an issue that negatively impacts your cash flow, and it must be resolved ASAP. After reviewing $500…
Conflict can happen in all corners of the workplace – even in Finance. Tension can occur between co-workers for a variety of reasons, such as clashing work styles. Then, there are disagreements that can arise between workers and supervisors because…
Even as many offices across the country reopen, hybrid work has become the norm. There are more remote workers than ever before. Many employees are spending all or part of their workweek telecommuting. And it’s critical for Payroll to keep…
To prevent cash from slipping through the cracks, many Finance teams periodically run an A/P recovery audit to identify and recover erroneous payments and unidentified credits. Besides year-end financial reporting time, other optimal times to conduct an A/P recovery audit,…
Give Payroll the heads up: There's a chance the unemployment tax rate could change. Here's why. States that had outstanding federal unemployment trust fund account loan balances as of Jan. 1, 2021, and Jan. 1, 2022, are at risk of…
For a while, vendor portals were great because A/R staffers didn't have to spend so much time on the phone with your customers' A/P departments to check the status of invoices or track a purchase order. However, over time your…
An ongoing battle for your peers continues to be setting salary budgets and whether the cost of living or cost of labor should be considered in their compensation philosophy and strategy. When COVID lockdowns made remote work mandatory, firms –…
