Tag: Employee Benefits
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Labor Burden in Construction – Proper Rate Formula
Labor burden in construction is a value added on to the respective hourly labor base wage to to determine the total cost per hour for a particular employee.
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Bookkeeping – Employer Provided Vehicle (Lesson 94)
With small business it is very common to provide a vehicle to the owner and key employees. It is often done in the construction industry and transportation sector. The idea is to provide transportation for not only the convenience of the employer but as retention tool for employees.
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Bookkeeping – Other Employer Provided Benefits (Lesson 93)
Other employer provided benefits are composed of three groupings of benefits: welfare, other (Life Insurance, Auto & Education) and fringe.
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Bookkeeping – Health Savings, Reimbursement and Flexible Spending Accounts (Lesson 91)
One of the drawbacks to the health insurance mandate for small business employers is the cost of the premium for the plan. To alleviate and reduce the cost of these premiums, employers provide alternatives in the form of health savings, reimbursement and flexible spending accounts.
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Bookkeeping – Employee Health Insurance Mandate (Lesson 89)
After three decades of discussion, in-fighting and wrangling, Congress passed a health insurance mandate along party lines of vote. This health insurance mandate changed the rules for employers and affects the accounting department and in particular, the proper bookkeeping for the respective amounts paid by both the employer and employee.
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Bookkeeping – Employee Benefits (Lesson 88)
There are a multitude of employee benefits employers provide to their employees. This series covers several groups of benefits and explains the legal and accounting issues related to them. This particular lesson introduces the concepts behind employee benefits and the basic accounting process.
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Bookkeeping – Estimating Employee Benefits (Lesson 84)
Employee benefits consist of vacation, sick time, retirement benefits, healthcare and other de minimus benefits. As a function of accrual accounting these benefits are estimated and posted as a deferred liability in the accrued payroll section of the current liabilities section of the balance sheet. This lesson explains how to calculate the respective benefits and…
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Bookkeeping – Employee Benefits (Lesson 35)
One of the best parts of being a bookkeeper is seeing employees smile when they utilize employee benefits. There are a multitude of different employee benefits out there including: 1) Health Insurance, 2) Retirement, 3) Life Insurance, 4) Dental Care, 5) Vision Care, 6) Cancer Insurance, 7) Disability Insurance and 8) Child Care.
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Retaining Stylists In The Salon Industry
The constant movement of stylists from one salon to another is actually bad business. How do you, as the owner, prevent or minimize this employee turnover? The answer lies in basic employee desires and needs in comparison to the salon’s needs and priorities.
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Payroll – Introduction to Basic Concepts
Payroll is envisioned as the simple employer employee agreement related to compensation for services. I often think of this as the simple handshake whereby the employer agrees to pay the employee a set rate per hour of work. This was true a hundred or more years ago, but over time; history and governmental regulations complicated this…