American Liquid Waste - August 2021

6 Payroll Tips For Profitable Septic, Sewer, or Portable Restroom Contractors

It’s payday, the day that all of youremployees look forward to. But, if yourpayroll system isn’t organized or up todate, you might be stressed out over howto approach payroll. So, we will provideyou with six tips to stay organized andkeep your septic, sewer, or portablerestroom contractor business runningsmoothly.

1. Pay Frequency and Methods

How often are you paying your employees —monthly, bi-weekly, weekly? Whatever pay periodyou decide on, remember that it should be in theemployee’s best interest. Each pay period has its upsand downs. Weekly pay periods satisfy employees butare a lot to keep up with.Depending on the role within your company,a salary setup might not make sense. At times,

paying by the hour can be complex, as you haveto keep track of how many hours your employeeshave worked. Use timesheet software to let youremployees keep track of their time on the clock. Youcan even integrate it with your payroll software.

2. Pick the Right Software

The right software will help your company staymore organized. When looking for payroll software,keep in mind that it’s suggested your software has acloud option where you can safely and easily accessall of your information. This centralizes all of yourinformation, allowing you to obtain it from anywhereat any time.

3. Make a Budget

When creating a payroll plan, make sure you budgetin bonuses or commissions for your employees andstate and federal taxes. Additionally, do not forgetthat employers are required to pay Social Security, as

well as Medicare taxes. Depending on your location,you may have to pay other employment taxes aswell.

Your expenses will growat the same rate yourbusiness will grow,meaning your payrollexpenses will onlyget bigger.

Your expenses will grow at the same rate yourbusiness will grow, meaning your payroll expenseswill only get bigger. As you factor in benefits foryour employees, the costs will only increase. Plan forthese expenses to ensure your payroll is organized.Sit down with an accountant, determine yourbudget, and keep your costs as low as possible.

4. Invest In a Human Resources Manager

Simplify your payroll methods by hiring a HumanResources Task Manager. They will delegate tasksand force companies to keep all of their informationin one place, saving time and money — the lesstime spent organizing your payroll, the better.

5. Keep Up With Payroll Laws

Stay up to date with your state’s labor laws andturn in payroll accurately and on time. As you addmore people to your employment roster, it can bechallenging to keep up with different employmentclassifications and the benefits that come with it.Consider investing in software that not only takesinto account your payroll process but HR and laborlaws as well. Missed deadlines can lead to penalties,

and over time, this can become a massive pain forany business owner. Brush up on your state lawknowledge to keep organized and avoid thosepesky fees.

6. Layout a Concise Payroll Policy

Some contracts have blurred lines between the fineprint, but your payroll policy shouldn’t. You shouldbe upfront and clear about things like:4 Which holidays your employees are allowed

to have off4 When and how they will be paid4 Compensation4 Vacation time4 Sick days4 Reimbursement informationYou should disclose any other relevant informationas well. Keep the document with all this informationon file and readily available for your employeesto access regularly if they need a refresher. Beingtransparent and honest with your employees onwhat is expected of them with the payroll processwill make your job a lot easier.

IMPLEMENT THESE 6 TIPS TODAY TO SAVEYOURSELF TIME, MONEY, AND FRUSTRATIONNavigating the world of payroll is a difficult taskstarting, but it doesn’t have to be so frustrating.Give yourself some space by using these six tips foryour septic, sewer, or portable restroom contractorbusiness and ensure that payroll is a breeze insteadof a pain. Software and processes were invented tohelp you, not harm you. Save your company timeand money starting today!

www.americanliquidwaste.com AUGUST 2021 AMERICAN LIQUID WASTE 9