What elements are included in a business's payroll policy?

Asked 2 years ago

I am drawing up a payroll process for my business. I want to make sure I do not miss any regulations or requirements. I’m not familiar with some of the laws for payroll policies, but I want to avoid any unwanted penalties. Can someone please advise me on the main things I need to include in my business payroll policy?

Payroll policy Payroll compliance Administering payroll Small business

Jadiel Macdonald

Monday, August 08, 2022

Your payroll policy should define details about your payroll process such as:
Workweek beginning and end
Breaks and/or lunch periods
Timekeeping procedures
Overtime rules 
Holiday pay
Expense reimbursement
Pay period beginning and end
Hourly and salary pay dates
Direct deposit or paper check payments
Amount and treatment of taxes, garnishments, or voluntary benefits deductions
Pay increases, adjustments, and advances
Final paycheck procedures
You will need to consult federal and state regulations to determine what the rules will be for your business. 