answersLogoWhite

0

For one, employees can not hold their checks resulting in a long list of outstanding checks on your bank reconciliation.

User Avatar

Wiki User

17y ago

What else can I help you with?

Continue Learning about Accounting

What are some of the benefits for outsourcing payroll?

Some of the benefits for outsourcing payroll is that the company is able to save costs on paying through an outside source, as opposed to paying all the taxes that come with direct payment.


Can corporations have a time deposit?

Sure. There are no restrictions about who can have a time deposit. Any individual or organization that earns an income out of legal means (after paying taxes) can have a time deposit at the bank. For that matter, most corporations have enormous amounts of deposits with banks across the globe.


Is direct labor cost a period cost?

Direct labor is a product cost as it is required to manufacture the units of product, Direct Labor may be a period cost in that period where there is no production but management still paying the labor all salaries and wages.


Do you have a withdrawl slip for a recurring deposit account?

A Recurring Deposit is a special type of bank account wherein the customer will deposit a small amount of money regularly every month. Banks will offer higher interest rates than the usual savings or current accounts because the customer will not withdraw the money until the deposit matures. Since it isn't a regular deposit account, you don't have any withdrawal slips here. You can do a premature withdrawal of the full amount by paying a penalty fee but you cant do partial withdrawals.


Are private disability claim checks taxable in AZ?

Taxation of disability benefits from a private disability insurance policy are based on whether the premiums are being expensed or not. Assuming that the premiums are not expensed and you are paying with after-tax dollars, your benefits will not be taxable.

Related Questions

How can I set up direct deposit and what is the process for paying employees through direct deposit?

To set up direct deposit, you need to provide your employer with your bank account information. Your employer will then initiate the direct deposit process by sending your pay electronically to your bank account on payday. The process for paying employees through direct deposit involves the employer collecting employees' bank account information, setting up a payroll system to process payments, and securely transmitting the funds to each employee's bank account on the designated payday.


What are some of the benefits for outsourcing payroll?

Some of the benefits for outsourcing payroll is that the company is able to save costs on paying through an outside source, as opposed to paying all the taxes that come with direct payment.


What if the company keeps paying you after termination by direct deposit?

You should notify them as soon as you notice it. Not doing so could be considered a form of fraud.


Set up direct deposit for pension?

Whoever is paying your pension will be happy to deposit it directly, if you instruct them to do so and tell them the account number and bank transit number (both of which are on the bottom of your check, if this is a checking account) of the account into which you would like the pension to be deposited.


Does Webster bank offer online banking?

Yes. Webster Bank offers all the standard online banking features such as balance checking, bill paying, direct deposit, etc.


Does your new wife have to pay child support for your children?

no, not unless your moneys are tied together somehow like you all have a joint checking account and the money is withdrawed by you to give to them that means whatever monies she puts in the bank you all are dividing equally and so yes she is paying if your doing it that way if there is a garnishment on your check and you have direct deposit and you share the account then yes but if your supposed to pay that money take out of your money not the both of ya'lls money cause that's not fair she's paying for kids that aren't hers. no, that is your debt. with direct deposit of payroll child support is taken out of pay before they do deposit.


What does a bank do?

In basic terms a Bank accepts money for deposit - paying interest for the use of people or companies money - protecting it and then turns around and lends that money out charging a fee and/or interest for the use of loaned money.Today banks facilitate transactions, such as direct deposit or purchases through electronic means.


Why was the south against the Henry clay's American system answer?

Because southerners opposed paying for roads and canals that brought no direct benefits and therefore opposed clays american system as a result. (:


What is the benefits you get from food coupons?

Paying less for food.


What is EZI pay express?

EZI pay express is a retail payment plan that allows for purchases from retail stores.It allows for payments to be made on purchases with an initial deposit and the remaining balance is direct debited monthly without paying any interest.


What are the benefits of social studies?

studying, focusing, and paying attention


What lump sum will Jim need to deposit now in an account paying 7.25 percent compounded quarterly if he wants to have a balance of 50000 in 15 years?

He should deposit 17017.82