Small Business Payroll: Making Every Cent Count

As a small business owner, you may struggle to make ends meet every day that you operate. Every penny counts, and you know that labor is one of your biggest expenses. Keeping this necessary category to a minimum can be a huge challenge for any small business owner. It can be done by following these suggestions:

Avoid Over-Staffing
Schedule only the staff members that you absolutely need. Many businesses will add extra employees to busy shifts “just in case” someone doesn’t show up. Review your schedules daily to ensure that business fluxes will not affect your current schedules. You can always adjust them accordingly. A solid timekeeping system will help you as a small business owner track peak and slow times so you will have the information and tools you need to schedule effectively.

Use Real Time

Accept only time that employees are scheduled to work. There is many a small business owner who make the mistake of not using technology to keep track of employee time. The big secret is that you cannot afford not to. Using an antiquated time clock or having staff members sign in and sign out by hand will cause you to lose valuable dollars every single day.

Signing on to a time system that uses distinctive individual fingerprints will prevent employees from signing each other in. It will also let you know exactly where they are signing in and will even alert you if they are late or absent. The system will even let a small business owner know if specific individuals are clocking in early or approaching overtime. You will be able to check on your employees from any location. Payroll processing will also take far less time, saving you even more money.

Audit Employee Time Punches

A small business owner should always make a point of always checking employee times. Many may try to beat the system by conveniently forgetting to clock out for lunch breaks or when they have to leave on personal business. Even though you may have a great system in place, it is still important to review them on a regular basis.

As is clearly illustrated, using an advanced time clock system such as the one described will save a small business owner hundreds of dollars over time. This type of system requires minimal training and support is always available. Your time spent figuring payroll hours will be well spent elsewhere, as will the money you will save on your overall payroll.

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