Use a Payroll Calendar 

It Can Save You Thousands in Fees 

Missing payroll deadlines is costly for businesses. In addition to late fees, you might face penalties from the IRS. By using a payroll calendar, you can streamline your payroll process and avoid these fines. A payroll calendar is essentially a schedule that tracks all payroll-related dates, from employee pay periods to tax deposit deadlines.

Here’s why you need one:

Timely Tax Deposits: Payroll taxes must be paid on time to avoid penalties. A payroll calendar helps you track deposit dates for federal and state taxes, ensuring compliance with IRS requirements.

Employee Satisfaction: Paying employees on time is crucial for morale and retention. A fixed payroll schedule helps build trust and stability within your team.

Better Cash Flow Management: Knowing when payroll is due helps you plan your finances. It can also help you manage periods of low cash flow, allowing you to plan accordingly.

To create a payroll calendar, mark all important payroll-related dates (paydays, tax deadlines, and filing dates) and stick to it. Use cloud-based payroll systems.