Netchex Not Impacted by Silicon Valley Bank or Signature Bank Closures
Over the course of three days, financial regulators shutdown both Silicon Valley Bank (Friday, March 10) and Signature Bank (Sunday, March 12). These consecutive closures are believed to be the second and third largest bank failures in U.S. history. Netchex does not use Silicon Valley Bank or Signature Bank to fund our clients’ payroll services […]
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The High Cost of Payroll Errors: What to Know and How to Prevent Them
A recent study about payroll and payroll errors by Ernst & Young, a multinational accounting firm, surveyed over 500 companies (from 250 to 10,000 employees) and found that: When HR processes are handled manually, nearly every step of payroll creates an opportunity for mistakes. As identified by the Ernst & Young study, here are just […]
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Why 2023 is the Year You Invest in Payroll Software
We all put off things we should do because they seem difficult or time-consuming. The end of one year and the start of a new one gives us the chance to tackle these much-maligned tasks with a clear head and renewed drive. If the past several years has taught us anything, it is that companies […]
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What is Daily Pay? The Benefits of Flexible, On-Demand Payroll
How does your company support employees with their finances? For so many workers, unexpected car repairs and medical bills make it difficult to wait until next payday. More than half the country is living from paycheck to paycheck, including 30% of people making $250,000 or more. When it comes to payroll, a little thing like […]
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Ensuring Payroll Accuracy and Compliance: Address, Compensation and Tax Verification
Momentum for remote work has been building for years. Then, the pandemic dispersed employees like never before. Able to live anywhere, employees can relocate at the drop of the hat and often without notifying their employers. This can cause serious compliance issues. 93% of HR professionals were confident they know where the majority of their […]
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Payroll Processing Done Right: In-House vs. Outsourcing
How to handle payroll processing is a question all businesses must consider. Small business owners might be able to manage payroll themselves, but it takes time and is susceptible to errors. Medium and large businesses can justify hiring a dedicated HR professional, but time, errors, and cost are still less than ideal. The right software […]
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Payroll Software Guide: Key Features and Benefits
You certainly know what payroll is. You might even know all that is involved in the payroll process. But did you know that payroll software can make the payroll process easier and more efficient for your company? Check out our insider’s guide to payroll software, including key features you need and real-life business benefits. What […]
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Understanding Payroll Taxes: Payments, Penalties, and Deadlines
Taxes are a major part of the payroll process. Just like your business needs to pay employees, it also needs to pay taxes. Payroll taxes help your employees manage their annual tax burden, and by checking all the paperwork, ultimately prevents costly fines for your business. Unrelated to the profits of your business, payroll taxes are part of the payroll […]
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Contractors and Exempt Employees: How Worker Classifications Impact Payroll and Taxes
What do you need to know about contractors and non-exempt employees? You’re probably familiar with the terms, but what do they really mean and how do they affect the payroll process? There’s a surprising amount of grey area with these employee classifications. Some independent contractors look a lot like employees, especially when your staff works remotely. […]
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How Does Payroll Software Work?
Technology is amazing, right? It is unbelievable what can be accomplished with the proper application of the right knowledge into our everyday processes. We don’t always understand it, but when it works, it works. Technology, like computer software, can transform complex jobs into simple, automated tasks. When efficient and effective technology is brought into the […]
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Ten Reasons Why Netchex is the Best Payroll Software for Small Businesses
Running a small business is hard—there’s no doubt about it. There are a million things to consider, plan, and execute on a daily basis. And by its very nature, armed only with a limited staff to do all of it. Because of this, many small businesses spread themselves too thin, especially when it comes to […]
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It’s National Payroll Week! Here’s How You Can Participate
Just about everyone would say that payroll is important because it is how people get paid. But few people are aware of all the additional things that are made possible through the actions of the payroll industry. Most notably, through payroll withholding, the industry contributes, collects, reports, and deposits 70% of the U.S. Treasury’s annual […]
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