Updated 7/30/2019. I recently visited a client company with over 750 employees. The HR staff kept track of vacations on a spreadsheet. Anyone considering taking time off would first call up some poor overworked HR rep and see how many days they had remaining. That rep would have to then manually update the remaining totals.
I have to imagine that was pretty much how that staffer spent his or her summer months at work.
This same company had a total of about ten spreadsheets keeping...
By Lisa Calick, Carolyn Hall, Floriana Allen, and Laura Melville
The end of the year can be busy for many companies. While December brings holiday parties and end-of-year celebrations, business owners should be mindful to make sure their HR and payroll departments are on top of timely actions in order to ensure a smooth transition into the New Year. This checklist will help you get a jumpstart on your year-end planning.
Review your employees’ data to make sure...
By Vanessa Munoz
In an effort to improve financial reporting for nonprofits, the Financial Accounting Standards Board (FASB) is implementing various changes. Among these changes are how expenses are being reported.
When it comes to financial reporting, many nonprofit organizations are only required to provide expenses by their nature (i.e. salaries, travel, rent, etc.).
However, voluntary health and welfare organizations are also required to present a statement...
By Laura Melville
Under current regulations, employees are exempt from overtime pay if they meet three criteria: the employee must be salaried, perform executive, administrative or professional duties, and earn more than $455 per week, or $23,660 per year. The current salary threshold was enacted in 2004.
But that salary threshold could be increasing, as the U.S. Department of Labor last year recommended raising the salary criteria to $913 per week, or $47,476 per year. (The rule...
By Timothy Kennedy, CPA
Do you trust your bookkeeper? This is a question you have to ask yourself periodically. Not only do you want to feel confident that they wouldn’t steal from you, but you also want comfort in knowing that they can properly journalize and manage the accounting information that comes through the door each day. Poor accounting record maintenance and overall sloppy accounting by a lackluster bookkeeper can take you to the point of no return—and force your hand...