Why payroll administration shouldn’t be a burden

Let’s face it –computing for employee wage and organizing related records aren’t exactly the most looked-forward-to activities during paydays. However, there’s no escaping it either if you want to refrain from having unhappy employees, or loopholes in reportorial requirements. Small companies in particular, cannot afford to establish their own HR department and consequently, payroll administration duties can fall on anyone.



Aside from the various software being released in the market today, the promise of yielding faster, easier payroll management activities fall flat without a sound background on the vital must-do’s that go hand-in-hand with employee wage computation.


Are you looking for a worthy investment that will aid you in your payroll management activities? We have the solution for you.


Learn the essentials of Effective Payroll Management in just 1 day!


Attend this seminar and gain solid knowledge on the following:


An Introduction to Payroll
Record Keeping – Operating the Payroll Function More Effectively
Calculation of Gross and Net Pay
The Essential Payroll Tax Update for the Payroll Professional
Effective Payroll Management Reporting Skills


Register online now or view our Packaged Programs that contain this seminar and save as much as Php4,100!

Have happy employees –update your compensation and benefits plan

In times like these, it’s better to take care of your company’s assets, both financial and non-financial. While you think that the turnover of employees might be relatively easy considering the overwhelming number of people vigorously applying for jobs out there, finding new employee that are actually competent and reliable enough are difficult. They may need you for employment –but your competitors might reel in the best of the bunch by giving better salary and benefits offers. In a blog by PayScale.com, they give 10 tips on why and how to develop a competitive compensation plan.

1. Properly compensate your new hires. What you offer upfront to a new hire can either convince or turn a potentially valuable worker away –be realistic yet positive about your offer.

2. Deepen your knowledge. It is also important to know the trends and regulatory environment of the industry you are in. This will paint you a clearer picture of what to tweak and how to go about the improvements you want to make in your compensation plan.

3. Determine how competitive do you want to be relative to the market. Variables include growth outlook for the coming years, industry specifications, your overall philosophy on pay, etc.

4. Explain total rewards to your employees. This is crucial especially for HR professionals –make sure your employees understand the constituents of their salary, benefits and incentives. This will yield lesser cases of complaint and later on, disgruntled employees.

5. Think before you cut. If it becomes a dire necessity, layoffs are inevitable. This might not look good for the company at first, but smart and targeted layoffs are better than reducing your employees’ salary. Keeping dissatisfied and resentful employees will do more damage than cutting back altogether.

6. Remember the key issues covered by a successful employee incentive plan. Ask yourself these following key questions: Who are you going to incent? How much are you going to pay, and for what result? How are you going to deliver the employee incentive?

7. Get buy-in on your company’s compensation policy. Gain approval not only from your top executives, but everyone involved in the compensation planning. This will also help identify if your offer is aligned with the company’s objectives.

8. Equip your managers to have effective conversations about compensation. There’s nothing worse than not having a proper compensation communication strategy when it comes to implementing the compensation plan. Before the breakdown of salary constituents reaches the prospective employees, your company’s managers have to get a good grasp of the matter first so that the information flows smoothly and accurately from there.

9. Write a compensation philosophy. This generally consists of a few, two paragraphs summarizing your company’s outlook on compensation. Use generally understood words, keep your tone positive yet realistic and remember that policies are not constant and will have to undergo some changes in order to be aligned with the rest of the company’s requirements.

10. Target pay rates appropriately. If you haven’t yet, correctly define the job for market pricing.When you are targeting pay rates for positions, you’ll want to correctly define the full proficient employee who has average performance.

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Don’t miss our Compensation & Benefits Seminar this August 18, 2010 (Wednesday)! Click here to register now or view or Packaged Programs to see how you can get a discount on this seminar and save as much as Php4,100!

Have a zero-waste supply chain

Do you fear that your supply chain might be endangered by less-than-optimal budget planning and misplaced costs? Has your procurement process yet to reach its maximum level of efficiency due to a lack of inventory control or too many inventories that burn a hole in your budget? With too-tight budgets, having sound financial planning at the start of the supply chain processes is prerequisite to having a zero-waste management of warehouse and logistics activities.

Attend our Warehouse Management & Inventory Control Seminar on August 24-25, 2010 and gain fresh insight on the following:
• Organizational Placement
• Funding and Costs
• Working Stock and Safety Stock
• Types of Surplus and Disposal Methods
Click here to read more or to register online!

Avoid the most common, costly tax errors committed

As the saying goes, there are only two certain things in life: death & taxes. While both are unavoidable constants in life, the stress involved in the latter can be controlled. For employees, the deduction of taxes from salary alone induces a groan every cutoff but for business owners and finance managers, tax-related burdens run deeper. Even the smallest miscalculation or missing reportorial document could cause grave penalties that could halt business operations.

Feel like you need updates on the latest tax developments? Attend our Comprehensive Tax Seminar on August 9, 2010 and allow us make the tax aspect of your business or profession a breeze. Topics covered are but not limited to:

• Withholding Taxes
• Local Business Taxes
• Final Withholding Taxes
• Fringe Benefit Taxes
• The New VAT Law
• Updates on INCOME TAXATION
• Penalties and how to avoid them
• What to do when issued a Letter of Authority (LOA)
• Tax Reduction

A MUST for all tax professionals, bookkeepers, entrepreneurs, accountants, lawyers or anyone needing a firm understanding of the Philippine taxation system and its implications. Click here to reserve a seat now!

What payroll professionals can do that their software can’t

In the age of automated systems and the constant development of hundreds of office software, manual data processing and archiving has become simplified in various ways. Professionals faced with accounting and recordkeeping tasks in particular might be among the first to provide positive testimonies regarding these developments. Even payroll administrators using software like customized payroll systems might be giving praise for the wide margin of convenience that these programs yielded.

However, aside from possibilities of power failure, system crashes, computer fraud and the like, payroll professionals should know how to deal with other aspects of payroll that no software alone can accomplish. Handling payroll goes beyond just the computation of wages and recordkeeping.

Do you think you need more proactive measures to truly understand and effectively handle case-to-case payroll problems within your organization? Attend our Effective Payroll Management Seminar this July 9, 2010 and gain a full grasp of:

• The different types of payroll and roles of a payroll administrator
• Tax updates and statutory requirements for ensured tax compliance
• Customizing reports for different departments
• Calculating Gross and Net Pay and how to categorize workers accordingly

Know more about this seminar now or take Effective Payroll Management with our Packaged Programs and save as much as Php 4,100!

EAA 3rd Year Anniversary Seminar Offers

We would like to celebrate our 3^rd Year Anniversary this month by launching our all-new PACKAGED PROGRAMS!

We would like to take this opportunity to show our gratitude and give back by offering 2-3 bundled seminars which are aimed towards a ladderized form of higher learning particularly in the fields of accounting and finance for continuous organizational and individual career development.

With accounting as a vital, indispensable part of sustaining and managing businesses and organizations of all types and sizes –small to medium enterprises, corporations, profit and non-profit groups – Entrepreneurs Accounting Academy recognizes and puts emphasis on the need for practical business solutions in order to keep up with today’s volatile economy. Our programs are directed straight towards this thrust, hence the formulation of constantly updated programs that are abreast with the latest accounting and finance trends. We stand to deliver real solutions to real issues with our highly interactive seminars that put textbook theories into practice.

We, at Entrepreneurs Accounting Academy, are inviting you to check out our new offers which are guaranteed to be a worthy investment of your time. Click here to visit our website to see our regular offers and our Program Packages to see how you can save as much as Php6, 300!

Building your organization’s own anti-corruption unit

While our attention as citizens of this country might usually be subliminally focused on the various graft and corruption cases that usually involve the disappearance of hard-earned taxes, business owners and key business decision-makers might also encounter similar thoughts regarding the safety of their own pool of funds.

Larger corporations have the advantage of being able to have internal auditors on call to regularly provide checks and balances, while other businesses opt to outsource. Other organizations rely on non-auditors to perform audit functions for controlling or monitoring business processes. Other small to medium enterprises that are a little lax or less assertive in enforcing company policies might be on the losing end when it comes to realizing their organization’s full potential.

Has your organization conducted a check-up of organizational strengths and weaknesses recently? Are your internal controls still well-established and appropriate for any changes you might have undergone within the organization?

If you find yourself concerned with the following areas, our Operations Auditing Seminar will give you the answers you need! Whether you are an established internal auditor, process analyst or non-auditor tasked with the analysis of understanding business processes, this seminar can work wonders on helping you refurnish or realize existing or prospective business goals or inaccuracies in your company’s books. Build your own organization’s anti-corruption unit and clear the path to greater organizational achievements! Click here to read more or to pre-register for this popular, comprehensive 2-day seminar.

Trainings in Cebu now offered

Entrepreneurs Accounting Academy is taking its business trainings and seminars around the Philippines!  Due to the strong demand for our trainings in other parts of the country, we are happy to launch “EAA on the Road”, a campaign designed to bring our seminars closer to individuals and corporations in various key commercial establishments and industrial areas around the Philippines. We will be kicking off this campaign at the Marco Polo Plaza Hotel, Cebu with the following seminars:

• September 6 – 7, 2010 – Tax Preparers Program Workshop

A must-attend primer for all Tax Accountants, Tax Preparers, Bookkeepers, Administrative staff preparing tax returns, PEZA and BOI reports and anyone who wants to learn how to prepare tax returns, PEZA and BOI Reports.

• September 8 – 9, 2010 – Warehouse Management & Inventory Control

Empowering finance, procurement and supply chain professionals spruce up their inventory management strategies for a more effective and efficient warehouse management system. Also beneficial for warehouse managers and employees.

• September 10 – 11, 2010 – Accounting for Non-Accountants

You don’t need to be a CPA to understand the most basic, practical, day-to-day accounting processes that you need to know –we make accounting easy for you! This seminar will equip you with the most common accounting terms used, the knowledge you need to prepare and analyze financial statements, the correct measurements for business transactions and the mental prowess for answering financial questions needed to improve business operations.

Seize this opportunity to get new tips and solutions to everyday business processes.  Signing up for these seminars? Click HERE to pre-register online and to read more about the seminars NOW!

We’re not stopping there –watch out for other EAA seminars coming soon in Bacolod, Davao, Palawan, Baguio and more! Visit our website for updates.

Mothers know best: Money tips from the experts

A belated mother’s day to all mothers out there! Apart from the multiple tasks and responsibilities that mothers take on (and are really, really good at), we can learn a thing or two from their uncanny penny-saving skills. Researchers have found that women handle 75 percent of family finances, and buy or influence 80 percent of all consumer purchases in the United States. Here are a few from Ilyce Glink, CBS Moneywatch.bnet.com blogger as she shares her mom’s money tips on Moneywatch.com’s Mother’s Day tribute:

Common Sense = Money Sense. “According to my mother and grandmother, there’s no great money magic. You have to use some basic common sense when making money decisions. In my family, spending more than you had was never an option. You had to make the numbers work even if it meant living at home, not eating out, not owning or driving a car, and not taking fancy vacations”.

Focus on What’s Really Important. “Most of us seem confused when tackling our budget. We try to make room for tickets to theatre, sporting events, movies, dinners out, babysitting, gourmet coffee drinks, and vacations. My mother and grandmother taught me that it’s more important to start from the most essential ingredients, add in a few top priorities, and pretty much save the rest. In our family, education was prized. So, we paid the mortgage, taxes, utilities, food, clothing, and school tuition. If you start there and cut out everything else, it’s easier to make a smart financial move”.

Enjoy the Simple Pleasures. My parents always made time to go out on Friday and Saturday nights. But they didn’t spend a lot of time and money buying things they didn’t need. While their friends bought vacation homes in the mountains, boats, and fancy cars, we focused on museums, visiting with my grandparents in Florida (we drove there), and driving around the country during the summer. Instead of eating out, my mother became a gourmet cook who packed our school lunches every morning.

Always Invest for Your Future. “In my family, the expectation was that you would graduate from college or graduate school, find a job, and make a life for yourself. The fallback position was — well, that never came up. Instead, the emphasis was always on the future and figuring out how to make that work out. I started working full-time when I was 22 (I had summer jobs from the time I was 14, plus babysitting), and in that first year of work socked away $2,000 into an IRA. (I also bought 25 shares each of Intel and Microsoft in 1987.) At the time, I didn’t know that putting in $2,000 each year from age 22 to 32 would yield more cash than if I started at 32 and continued to make that payment until I was 65. The lesson was invest for the future and the rest would sort itself out. I still believe that, and each year I sock away the maximum I can into my 401(k)”.

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Looking for longer-term solutions to business and financial concerns? Be equipped with the knowledge and skills needed to make effective business solutions! Register for our Accounting for Non-Accountants Seminar and be formally equipped with the understanding of accounting terminology, practices, theories and trends needed to make sound financial and managerial decisions. Visit our website to find out more about this seminar!

Why even small business need effective payroll administration

Some small businesses may be hesitant to hire a full-time accountant or single out a member of their HR personnel to focus on the task of managing their company’s payroll system. This could be due to the lack resources, and also the fear that this task might divert the much-needed time and effort that the company needs to focus on its core competencies. But did you know that 99% of BIR assessments come from inconsistencies in payroll activities, most especially payroll taxes?

A way to curb that scenario before it occurs is to purchase software with built-in payroll functions –which most of the larger companies can afford. But for smaller organizations, particularly those with less than approximately 25 employees, it might be a better idea to invest in a good accountant or payroll administrator to personally see through their payroll activities. After all, investing in having flawless transactions is much cheaper than having to deal with tiny errors that contain costly consequences.

We can help you get started in improving your payroll methods! Attend our Effective Payroll Management Seminar and learn the ropes on handling day-to-day payroll issues that go beyond just handing out employee salaries. If you’re a payroll manager, accounts manager, HR officer or staff member dealing with or supervising this vital process, then this seminar is for you. Click here to find out more details and to see how you can register online!

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