Paycom Releases Video for Restaurant Owners

Restaurant owners know the intricacies associated with running a successful business and those who are prosperous have done so by reducing exposure and increasing workplace efficiencies.

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With the help of a single application payroll provider, restaurant owners will gain an ally that will help keep their business in compliance, while erasing the stress of making sure employees are paid accurately and on time.

Oklahoma City, OK (PRWEB) July 03, 2013

Paycom recently released a video that speaks to all restaurant owners struggling with the challenges associated with running a successful business, including HR and payroll tasks required to stay compliant and pay employees. Paycom’s latest video helps restaurant owners see the benefits of outsourcing their human capital management and payroll solution to a proven provider that offers a suite of services in a single application.

“Complex laws governing restaurant employees’ wages and tip reporting, mixed with the task of running a successful business is daunting and time consuming,” said Director of Customer Service Randy Peck. “Partnering with a human capital management company designed to ease compliance burdens with easy-to-use, cloud-based technology is key to the HR-side of a successful restaurant.”    

Restaurant owners know the intricacies associated with running a successful business and those who are prosperous have done so by reducing exposure and increasing workplace efficiencies. Beyond the responsibility of payroll, owners have to manage FICA tip tax credit, tips to minimum wage, tip allocation, I-9 compliance and TEFRA 8027 reporting. In addition, most food service businesses are juggling several systems that do not talk with one another like Point of Sales (POS) and payroll systems. Streamlining payroll, time and attendance and a benefits administration suite will help restaurant operators meet their day-to-day payroll needs, while keeping businesses clear of Affordable Care Act and other regulatory compliance mandates.

The Internal Revenue Service and State Department of Labor closely monitor restaurants’ cooperation with regulations to the following: taxes and FICA withholdings on a weekly bases, federal unemployment taxes quarterly and declared tips that are in excess of the charge tips reported annually on form 8027.

Restaurant owners looking to team with a human capital management partner to reduce exposure, enhance operations and gain peace of mind knowing that employees’ payroll and tax payments are taken care of should follow these four steps:

1.    Determine your individual needs based on current HR and payroll data.
2.    Research your options based on individual needs, because accurate time and attendance tracking with integrated time clocks may be of importance.
3.    As your restaurant grows and you add additional locations, make sure your payroll provider will be able to adequately scale with your needs.
4.    Insure your provider prepares quarterly and annual employee tax filings to maintain compliance.

With the help of a single application payroll provider, restaurant owners will gain an ally that will help keep their business in compliance, while erasing the stress of making sure employees are paid accurately and on time. Check out Paycom’s video and learn more at http://www.paycomonline.com/restaurants.


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