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Day: January 9, 2025
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What is a Payroll Clearing Account: Simplifying Payroll Management
A payroll clearing account is a temporary holding account. It manages payroll transactions. Understanding a payroll clearing account is essential for smooth business operations. This account helps businesses streamline payroll processes. It acts as a bridge between payroll expenses and actual payment distribution. When employees are paid, funds move through this account before reaching their…
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Prevailing Wage Vs Certified Payroll: Understanding Key Differences
Prevailing Wage and Certified Payroll are important terms in construction. Both affect how workers get paid. Understanding these terms can help employers and workers. Prevailing Wage sets the standard pay rate for public projects. Certified Payroll ensures compliance with those wage laws. Knowing the differences can make managing projects easier. In this post, we will…