How to manage payroll when you work from home
Working from home can be fun, but it’s not without challenges. Sometimes, it’s hard to find the time to make a cup of coffee – let alone manage a team of remote workers!
This is certainly true when it comes to payroll. If all of your staff are working remotely, it makes it even harder to manage payroll and issue pay stubs.
Looking for some help when it comes to payroll? If so, keep reading to learn how to manage payroll, whether you’re working from home or remotely.
Use time tracking software
How will you know how many hours your staff have worked, if everyone is working from home? One of our first remote payroll tips is to use time tracking software.
Staff can use it to record how many hours are spent working on each project, then submit to you each week. Based on this information, you’ll know how much to pay each worker.
Understand the tax status of your staff
Do you have remote workers in various states or countries? If they are freelancers, they’re responsible for their own taxes.
However, if they are employees, payroll processing can be more complicated. You’ll need to be aware of the tax requirements of each state, as deductions and taxes vary from state to state.
Legally, you need to withhold the correct amount of deductions for each employee, so this is an essential step.
Try out payroll software
If you’re working from home, either temporarily or if you’re running your own business, you’ll need access to payroll software. Look for a program that lets you easily calculate and track pay for each staff member.
You’ll also want to create pay stubs for each employee, indicating how much they were paid, what deductions were made, and the amount of tax withheld.
The right software to help with both payroll and pay stubs will save you plenty of time.
Block out your time
When working from home, you’re sure to be juggling plenty of things—incoming emails, crying kids, and barking dogs, to name a few. This is sure to make it tough to find the time to manage payroll each week!
However, staff are dependent on getting paid on time, so why not block out time to run payroll each payday?
Time blocking allows you to dedicate time during the day for set activities, like payroll, phone calls, or paperwork. It can be a massive help with time management, especially when it comes to important tasks like managing payroll.
Manage payroll remotely with these tips
Working remotely can be a massive challenge, especially if it’s new to you. To ease the transition, use the tips above to learn how to balance your time and manage payroll, even on the busiest of days.
Your staff are sure to appreciate their timely payments, along with all work that goes into making payroll happen.
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