Fast Payroll Frequently Asked Questions

A. Businesses of all sizes, from small startups to large corporations, can benefit from using payroll software. It's particularly helpful for organizations with complex pay structures, multiple employees, or geographically dispersed teams.

A. Expense reimbursement is a process where a company pays back an employee for money they spent on business-related expenses. They essentially covered the company's costs using their own funds upfront and are later reimbursed for the exact amount.

A. Fastpayroll provide top of the line security to help prevent cyber attacks and other vulnerabilities in all areas of the payroll cycle.

A. Our friendly and knowledgeable team is here to answer your questions Monday - Friday from 8:00 am to 5:00 pm CST. Reach out to us with any questions.

A. The process of payroll begins with collecting employee information, deducting and filing taxes, ensuring compliance and finally disbursing wages to employees.

A. (ACH) Automated Clearing House 3-day and 2-day direct deposit (for qualifying customers) are all supported with Fastpayroll to make paying your employees quick and easy.

A. Use Form 940 to report your annual Federal Unemployment Tax Act (FUTA) tax. Most employers pay both a federal and a state unemployment tax. Only employers pay FUTA tax. Don't collect or deduct FUTA tax from your employees' wages.

A. Form 941 is the Employer's Quarterly Federal Tax Return. It is used by employers to report payroll taxes withheld from employees' wages and the employer's portion of Social Security and Medicare taxes.

• Regular pay - A non-exempt employee's regular rate of pay must not be less than the highest federal minimum wage, state minimum wage or local minimum wage in effect when work is performed.
• Overtime pay - As defined by the FLSA, overtime pay is 1.5 times the employee's regular rate of pay for each hour worked over 40 in a workweek. States may have their own overtime standards, which employers must follow.
• Holiday pay - Although not a federal requirement, some employers will offer their employees paid time off for holidays or pay them at higher rates for time worked on a holiday.