Payroll Reports Archives - Patriot Software

Payroll Reports Archives - Patriot Software Thu, 24 Oct 2024 20:30:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Payroll Reports Archives - Patriot Software 32 32 ERC Voluntary Disclosure Program Reopened, Giving Discounts on Questionable Claims https://www.patriotsoftware.com/blog/payroll/erc-voluntary-disclosure-program/ Thu, 29 Aug 2024 19:29:00 +0000 https://www.patriotsoftware.com/?p=66057

Business owner learning about the Employee Retention Credit Voluntary Disclosure Program

The employee retention credit (ERC) was a lifeline for small businesses struggling to stay open during the pandemic. But bad actors quickly pounced on the opportunity. “ERC mills” began aggressive marketing campaigns advising employers to apply (even if they didn’t qualify) and collecting hefty upfront fees. As a result, a slew of unqualified applications flooded […]

]]> Form W-2 Box 12 Codes and Explanations https://www.patriotsoftware.com/blog/payroll/form-w-2-box-12-codes-and-explanations/ Wed, 05 Jun 2024 21:27:00 +0000 https://pslohio.wpengine.com/uncategorized/form-w-2-box-12-codes-and-explanations/

Each year, you need to file Form W-2 for your employees. You might need to use Form W-2 Box 12 codes to accurately fill out Form W-2. If you are not familiar with Box 12, there are currently 26 codes to report certain compensation and benefit amounts. The codes range from life insurance coverage to […]

]]> Payroll KPIs and Statistics: Small Business Payroll Performance https://www.patriotsoftware.com/blog/payroll/payroll-kpis-key-performance-indicators/ Thu, 30 May 2024 21:18:06 +0000 https://www.patriotsoftware.com/?p=68435

Running payroll is more than cutting employees a check for their hours worked. Payroll takes time. A lot goes into calculating and withholding taxes and deductions. There’s room for mistakes and opportunities for improvement. You can use payroll KPIs, or key performance indicators, to analyze how well you manage payroll. How long does it take […]

]]> How to Fill Out Form W-2: Box-by-box Breakdown https://www.patriotsoftware.com/blog/payroll/how-to-read-w2-form-box-by-box-breakdown/ Wed, 08 May 2024 17:28:00 +0000 https://pslohio.wpengine.com/uncategorized/how-to-read-w2-form-box-by-box-breakdown/

Once you send Forms W-2 to your employees, you don’t have to worry about the annual form until next year. Or, do you? If you don’t know how to fill out Form W-2, you may run into problems. Your employees might come to you with questions about Form W-2. And, your employees may think you […]

]]> Answers to 18 Payroll Questions You Are Dying to Ask https://www.patriotsoftware.com/blog/payroll/payroll-questions-answers-faqs-questions/ Thu, 02 May 2024 19:58:00 +0000 https://pslohio.wpengine.com/uncategorized/payroll-questions-answers-faqs-questions/

Woman using a calculator near the cash register.

For some business owners, running payroll might be like learning a foreign language. You are a master of your business idea, not the administrative responsibilities that come with it. Because you might not be familiar with these responsibilities, you might have some payroll questions. Payroll questions and answers When you become an employer, you need […]

]]> What Small Business Owners Should Know About Payroll Analytics https://www.patriotsoftware.com/blog/payroll/payroll-analytics/ Thu, 18 Apr 2024 16:40:43 +0000 https://www.patriotsoftware.com/?p=67863

Example of different payroll analytics, including line graph, bar chart, and pie chart.

Are your employees working too much overtime? Who needs a raise? Are you spending too much money on a department? To get answers to these types of questions, analyze your payroll data. Use payroll analytics to make decisions, avoid overspending on payroll, and verify the accuracy of your payroll. Payroll data analytics isn’t about mindlessly […]

]]> Payroll Forecasting: Strategies for Predicting Employee Expenses https://www.patriotsoftware.com/blog/payroll/payroll-forecasting/ Mon, 15 Apr 2024 20:24:50 +0000 https://www.patriotsoftware.com/?p=67761

Business owner and employee doing payroll forecasting.

Payroll is arguably a business’s biggest expense. Between taxes and benefits, an employee costs up to 32% more than their wages. To accurately budget for your payroll-related expenses, try payroll forecasting. Payroll forecasting is an essential part of financial planning that requires you to analyze and understand your company’s payroll data. Read on to learn […]

]]> Form 1099-NEC vs. W-2 Differences: Which Should You Use? https://www.patriotsoftware.com/blog/payroll/1099-or-w2/ Thu, 04 Apr 2024 20:06:00 +0000 https://pslohio.wpengine.com/uncategorized/1099-or-w2/

After the end of every year, you need to report your workers’ wages. You must send a form to the worker and governments. But, which IRS form do you send? The form you use—Form 1099 vs. W-2—depends on if the worker was a contractor or an employee. Form 1099-NEC vs. W-2 There are two types […]

]]> How to Generate Pay Stubs for Employees https://www.patriotsoftware.com/blog/payroll/how-to-generate-pay-stubs/ Fri, 15 Mar 2024 17:42:17 +0000 https://www.patriotsoftware.com/?p=67495

Employer on his laptop to generate pay stubs for employees

When payday rolls around, employees receive their wages for hours worked. They may also receive a digital or paper pay stub, which breaks down their earnings and payroll deductions. As an employer, you must know how to generate pay stubs. Pay stubs are essential documents for both employers and employees. Employers keep pay stubs as […]

]]> How to Fill Out Form 941 (2024): Step-by-step Instructions to Fill Out Form 941 https://www.patriotsoftware.com/blog/payroll/how-to-fill-out-form-941/ Mon, 11 Mar 2024 20:08:00 +0000 https://pslohio.wpengine.com/uncategorized/how-to-fill-out-form-941/

If you have employees, you likely need to fill out and file Form 941 each quarter. Form 941 is jam-packed with different sections and calculations, which leaves room for errors. Need Form 941 instructions? Avoid major Form 941 mistakes and here learn how to fill out Form 941 line by line here. What is Form […]

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