Payroll errors start with classification. This 75-minute payroll rules and administration webinar begins with how to classify workers as employees or contractors, using the governing guidelines and specific IRS criteria, and how to pay contractors.
It then covers classifying employees as exempt or non-exempt under the Fair Labor Standards Act (FLSA), including the executive, administrative, professional, computer professional and sales categories and the salary and duties tests. You'll see how to pay exempt and non-exempt staff, overtime and non-discretionary bonuses correctly, and why a well-prepared job description matters when applying the overtime rules.
The session also addresses recordkeeping, accounting and reporting, and the policies and procedures companies need to supplement FLSA rules.
- Classify workers correctly as contractors or employees
- Classify employees as exempt or non-exempt using the FLSA salary and duties tests
- Prepare job descriptions that support classification decisions
- Pay exempt and non-exempt employees and overtime correctly
- Include non-discretionary bonuses in overtime calculations
- Set recordkeeping, reporting and policies that prevent payroll errors
Worker classification
- Employees vs. contractors: definitions and governing guidelines
- Specific IRS criteria for contractors
- Guidelines for paying contractors
Exempt and non-exempt employees
- FLSA exemption categories: executive, administrative, professional, computer professionals and sales
- Salary and duties tests for exempt employees
- The value of the job description and how to prepare it
Payment and administration
- Proper payment of exempt and non-exempt employees
- Overtime rules for exempt and non-exempt classes
- Paying newly classified exempt and non-exempt employees
- Handling non-discretionary bonuses when paying overtime
- Recordkeeping, accounting and reporting
- Policies and procedures that supplement FLSA rules
- Prevention and accuracy in payroll administration
Payroll affects employee morale and must comply with every applicable rule and policy. This webinar takes a simple, practical approach to FLSA payroll rules and how to apply them, with a focus on getting it right and preventing errors, especially for employees newly classified as exempt or non-exempt.
It suits HR and PR personnel, supervisors, managers, controllers, planning and budgeting professionals and anyone involved in personnel or payroll administration.
HR personnelPR personnelSupervisorsManagersControllersPlanning & budgeting professionalsAll positions involved in personnel or payroll administration and the supervision of personnel
Carl Young is an Author, Speaker, Trainer, Consultant, and
Coach. He holds a MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology based company. He has over 25 years of senior level business management experience. In addition, he has over 25 years of training experience in finance, accounting and business management. Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of major consulting firm.
Carl is a member of the following organizations: American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants.
An engaging and entertaining speaker and trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques that are simple to understand and apply.
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