Payroll Mistakes Companies Should Avoid

August 6, 2019 / GuidesFor Team

It is also normal for companies to make mistakes. However, one mistake that is a big no-no for companies concerns payroll. Missing deadlines in National Insurance Contributions, payment deadlines, and tax payment is “deadly” as this could incur penalty charges.  The wrong classification of employees is another common mistake among companies. With a broad classification of workers including freelancers, temporary workers, and contract workers, companies have to fix issues regarding incorrect reports. Sole dependence on software programming allows increased efficiency in terms of payroll processing. With the rule “garbage in garbage out,” and incorrect input of data can also result in inaccurate reports that could lead to remediation for a longer period of time. ~~ Lornajane Altura




Read the source article at Talk Business

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