Payroll Recordkeeping: What You Need to Know

Training Provided by Lorman Education Services nIn recent years there has been an explosion in the number of lawsuits and claims for overtime and unpaid wages under the Fair Labor Standards Act. Did you realize that liability for FLSA violations can be enormous? Recent reports estimate that over the last few years companies have collectively paid out more than $1 billion annually to resolve FLSA claims! Learn the role of the FLSA and its requirements as to the records to be kept by the employer regarding wages, hours and other items, as specified in the Department of Labor recordkeeping regulations. Discover what is required for both exempt and nonexempt employees, including how long the records must be maintained. Home-workers, employees working under certain specified pay arrangements, employees to whom lodging or other facilities are furnished and employees in certain other categories present special requirements that you need to be aware of. Technology has made recordkeeping easier, but it has also placed upon the employer the added task of accurately reflecting the time that employees "work" when they are not physically in the office. This teleconference will not only help you better understand the FLSA recordkeeping requirements and their relevancy to your business in today's environment, it will equip you with the know-how to prepare a self-audit assessing the strengths and weaknesses of your existing recordkeeping methods.

Payroll Recordkeeping: What You Need to Know Agenda

1. Recordkeeping
1. Nonexempt Employees
2. Exempt Employees
3. Safeguards
4. Volunteers, Interns and Others
2. Home-Workers
1. Special Requirements
2. Other Considerations
3. Independent Contractors
1. Increase in Challenges to I.C. Relationships
2. Record Requirements
4. Technology Issues
1. Recordkeeping Methods
2. Connectivity Issues as They Relate to Recording Hours Worked
5. How to Conduct a Self-Audit

About The Training Provider: Lorman Education Services

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• Handling Federal Garnishments from Receipt to Termination
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• Paycheck Calculation Basics
• Payroll Compliance
• Payroll Management
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