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Business strategy
How to make payroll for small businesses
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[QUOTE="Jasz, post: 223070, member: 61772"] Making payroll is a critical part of running a business. Whether you're paying yourself, your employees, contractors, or suppliers, it's something that can't be ignored. I will also walk you through how to make payroll for small businesses step by step. The first thing to do is figure out how much money you have coming in. If you have a regular paycheck—whether from your own paycheck, clients, customers, or investors—this is fairly straightforward. But if you're not sure how much money will come in at any given time, you'll need to assess the average amount of income you're making and make projections based on that. Once you know how much money is coming in each month or quarter—or whatever time period works for your business—you can start creating your budget. Make a list of all the expenses the business has each month or quarter. These should include things like rent and utilities (if applicable), insurance payments, and loan payments (if applicable). Note that there may be some expenses that need to be paid less frequently than monthly—these are called "annual" expenses—but they still need to be accounted for when making payroll. If you have employees or contractors whom you pay hourly or based on commission, calculate their pay [/QUOTE]
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