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Welcome to the F&F Accountants blog! As accountants, understanding payroll processes is essential. Whether you’re a seasoned professional or just starting out, let’s explore the intricacies of payroll management. Here’s your comprehensive guide:

1. How to Pay Your Employees

Hiring Your First Employee

Congratulations on hiring your first employee! Now, let’s dive into the nitty-gritty of paying them:

  1. Pay Frequency: Decide how often you’ll pay your employees—weekly, biweekly, or monthly.
  2. Salary vs. Hourly: Determine whether your employee will receive a fixed salary or be paid hourly.
  3. Withholding Taxes: Understand tax withholding requirements. Deduct federal and state income taxes, Social Security, and Medicare from your employee’s paycheck.

2. Payroll Software for Accountants

Top Payroll Software Options

  1. When I Work: This user-friendly platform offers in-app messaging, time off accrual, and self-service features1.
  2. Paychex Flex: While not free, it provides time off accrual and direct deposit options.
  3. QuickBooks: Known for its integrations and accounts payable features.
  4. Patriot Payroll: A straightforward solution for small businesses.
  5. Namely: Offers a multifaceted platform with complementary tools.
  6. Gusto: A comprehensive payroll and HR solution.
  7. TriNet: Elevate your accounting payroll process with this robust platform.

3. Resources for Payroll Mastery

Learning and Staying Updated

  1. Accounting Coach: Harold Averkamp provides free tools and resources for payroll clerks and accountants to stay up-to-date on payroll, accounting, and bookkeeping.
  2. Payroll Vault: Discover their free online business calculators, Covid-19 resource hub, and helpful blog posts.

Remember, accurate payroll management ensures happy employees and smooth business operations. Let’s master payroll together!

Stay tuned for more insights from F&F Accountants—your trusted financial partners! 📊✨