How to get an EIN for your business, free and step by step
An EIN is free from the IRS. The IRS says you can get one online “in minutes,” and an approved application shows the number right away. Here is how to get an EIN: apply on the IRS website during open hours and finish in one sitting. Then print the confirmation letter. An employer identification number […]
Booking Pro launches payroll, powered by Friday
Booking Pro just launched payroll for its salons, spas and barbershops, powered by Friday. Here is what it does, and everything our team takes care of behind it.
What Is the Best Payroll Software for a Small Business With 10 Employees?
Managing payroll for 10 employees involves more than cutting checks. You’re tracking hours, calculating overtime, filing small business payroll taxes, handling direct deposits, and managing time off-all while running your business. The best payroll software should handle these tasks without adding unnecessary costs or complexity. For a small business with 10 employees, the best payroll […]
How to run payroll from phone, step by step
Yes. You can run payroll from your phone with the FRIDAY app on iOS or Android. A mobile pay run has five steps: open the current pay period, review hours and time off, check each person’s pay, then approve and submit. After that, FRIDAY handles tax filing and payments. You can process payroll from anywhere, […]
Cash flow tips: Will your cash flow make payroll every payday?
Will your cash flow make payroll this cycle? Only if you plan for the full cost of a pay run. You need net pay on payday, then withheld and employer taxes on your IRS deposit date, and unemployment taxes after that. A reserve, a 13-week forecast, and faster customer payments close the gap. This guide […]
Employee turnover rate formula for small teams, with examples
The employee turnover rate formula is simple. Divide the number of employees who left during a period by your average number of employees, then multiply by 100. For a month, average headcount is your starting count plus your ending count, divided by 2. So 2 departures on an average team of 16 equals 12.5% turnover. […]
When to hire employees: 5 signs it’s time to hire help
The right time to hire is when steady demand outgrows your own hours, and your cash flow can carry a new salary. Knowing when to hire employees comes down to five signs: lost customers, long hours, routine overtime, slipping quality, and missing skills. As a rule of thumb, if two or more show up month […]
How to build a team communication habit that sticks
The team communication small business crews actually follow is a simple, repeated habit. Pick one place for messages, then send the same few notes on the same days. Use a Monday shift note, a Friday recap, and a monthly one-on-one. After that, match each message to the right channel so nobody says “I did not […]
How to handle employee expense reimbursement the right way
Employee expense reimbursement is how you pay back employees who spend their own funds on business expenses like mileage or travel. Under an IRS accountable plan, those payments are not wages, so no income tax, Social Security, Medicare, or FUTA tax applies. Without that plan, the same money counts as taxable pay. A copy-ready policy […]
Cost of living raise calculation: what a COLA really costs you
A cost of living raise calculation is simple. Multiply current pay by the inflation rate you choose, then add that amount to the pay rate. A $22 hourly worker with a 3 percent cost of living adjustment moves to $22.66. The harder part is the full employer cost once overtime and payroll taxes are added. […]