Hub Payroll How To Pay Independent Contractors In 2025 January 16, 2025Freelancers and independent contractors are important in today’s workforce, bringing an array of useful skills while allowing small businesses to contract their work without paying a full-time employee salary with benefits. A ...
Ask yourself the following questions about an employee when providing fair pay: Has this employee worked any overtime hours during the pay period? Will the employee qualify for any reimbursements? Will the employee’s pay adhere to minimum wage laws? Fair pay should also take into accou...
Pay special attention to all the sensory words! Mission The mission statement in your business plan is the “why” of it all. For example, why you started the business, why you are selling the products you are selling, etc., can all be added to this section of your business plan. You...
According to Xero, there was an 81% spike in late payment costs for NZ small businesses between 2021 and 2023. To avoid late payments, invoice your customers on time and send reminders before payments are due. If you sell high-value products or services, check your customer’s credit ...
In other words, the employee will be paid earnings, using either "Sick Leave" or "Annual Leave" and we want to know what type of leave they took.Attached is an example of the data we retrieve from Xero. Notice that the "LeavingEarningsLine" doesn't provide a GUID to the type of ...
Every time you log something in the chart of accounts, you make two entries: a debit from one account and a credit to another. Here's what this means in practice: Say you buy a new employee laptop for $800. You'd debit $800 from the appropriate Asset accounts (in this case, ...
Maintaining solid and verifiable financial records is one of the most crucial steps owners can take not only to increase the value of their business but to operate it effectively. Fortunately, thanks to accounting software such as QuickBooks and Xero, much of the traditional grind of bookkeeping ...
On the Manage Users page, go to the Users section to select the Add user button. Tick the radio button for Standard user under the Select user type section and then hit Next. Mark the radio button for Limited and pick which area in the company you want ...
small business grantsare essentially money for your business that you don’t have to pay back. Many grants are industry-specific or geared toward women, veterans, and minority business owners. An important thing to keep in mind, while you do not have to repay grants, they often come with ...
These benefits aren't just theoretical — they translate to real-world efficiency gains. Consider this: Companies with fully automated Accounts Payable (AP) processes handle more than double the workload of their manual counterparts. They process a staggering18,649invoices per full-time employee annu...