RedWolf Payroll

Payroll touches each and every employee of an organization who receives a regular wage or other compensation. Some employees may be paid a salary while others are based on the number of hours worked.  Many of these different payment methods are calculated by a payroll specialist and the appropriate paychecks are issued. Organizations often use objective measuring tools such as timecards or timesheets completed by supervisors to determine the total amount of payroll due each pay period.  All in all, there are a vast amount of records that can pile up related to employees.Many payroll records are based on objective criteria such as timecards and federal tax forms.  For many small business owners, this mountain of records can be a daunting task to keep organized.  This is a major reason that many business owners choose to hire outside accountants to perform all of the calculations; store all of the year-to-date records and issue paychecks in a timely fashion. Employers simply need to update their payroll firm with changes in employee pay rates or deductions.In payroll personal file is essential that information is easily accessible and accurate when it is needed. Business owners and managers will eventually encounter the need to produce documentation about employee performance and work history. When outside people ask the company to provide verification of certain employment information, make it a practice to confirm only the information your employees have authorized you to release.The following items constitute a list of what items should be retained related to your employees. Keep in mind that this list is not all inclusive, and may vary based on your company or industry.

1.  Offer and hiring records (including employment contracts and/or agreements)
2. Employment applications (include supporting documentation such as resume, transcripts, interviewer notes, recommendation letters and/or reference checks.
3.  Job Descriptions
4.  Receipt for Employee Handbook (if applicable)
5.  Testing and/or Training Records (if applicable)
6.  Performance Evaluations
7.  Awards or disciplinary actions
8.  Personal data (name, address, birth date, sex, etc.)
9.  Payroll records
10.  Employee pay and benefit plans records
11.  Records and logs of occupational injuries
12.  Employee terminations and exit interview notes
13.  Promotions, demotions, and transfers
14.  INS Form I9
15.  Tax Withholding Forms (W-4, W-5, and any required state forms)

The following records are considered confidential, and should be kept separate from the regular personnel file when others may access the information inappropriately. 

1. Supervisor’s administrative file
2. Medical records and medical history of employees regarding ADA, FMLA, Rehabilitation, or work-related injury and/or illness claims and reports, and referrals concerning employees’ participation in Employee Assistance Programs
3. Medical records and medical history of family members of employees
4. Assessments functional capacity
5. Fitness for duty examination results
6. Discrimination claims and/or reports, including investigative materials.