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Common Payroll Misconceptions

Understand the common misconception about paying employees to ensure that your company is handling them correctly.

Many employers have misconceptions about what is actually required to pay employees correctly under federal and state wage and hour laws. There are some who absolutely believe it is illegal to force exempt employees to record their time (it is not) or that if you pay an employee for a holiday, it legally must be included in the overtime calculation (it does not). Other companies are convinced that if they have a policy that states that overtime must be approved in advance or it will not be paid, is perfectly legal not to pay the overtime (it is not). This topic will help you understand the common areas of misconception about paying employees to ensure that your company is handling them correctly.

Learning Objectives

  • You will be able to differentiate when an employee is exempt and non-exempt.
  • You will be able to identify fundamentals of payroll processing.
  • You will be able to recognize the requirements for unclaimed paychecks.
  • You will be able to identify the document that governs a 401k plans day to day operations.

88 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

How to Define an FLSA Exempt vs. Nonexempt Employee

  • Are All Managers Exempt?
  • Are Only Hourly Employees Eligible for Overtime?
  • If You Require Exempt Employees to Clock in/out, Do You Have to Pay Overtime?

How to Calculate Overtime

  • What Is the Workweek?
  • Can the Workweek Change at Any Time?
  • Who Decides What Is Considered Work Time?

Determining What Non-Worked Time Must Be Paid

  • Do I Have to Pay Employees for Holidays, Sick and Vacation?
  • Is Non-Worked Time Used to Calculate Overtime?
  • What Other Types of Unproductive Time Must Be Paid?
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on May 10, 2021.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.2 including Business Law 2.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 2.2 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Alma Stewart, CPP

Alma Stewart, CPP

  • Implementation consultant, payroll
  • 25+ years of experience in payroll including managing multistate payroll departments
  • CPP/FPC study group coordinator
  • Author of several publications in PayTech magazine related to payroll electronic payments
  • Member of American Payroll Association for 10+ years
  • Graduate in accounting, University of Alaska, Anchorage; CPP certification
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409014
Published 2021
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