Question

The Accounting Beast Company would like to hire a new account bookkeeper. Before hiring, company need to develop a pay structure and an incentive plan for this position.

1. What benefits would be appropriate for this position and how much would benefits cost to the company?
2. Whether it will be an exempt or non-exempt position, piecework rate, commission, bonuses, or other method of pay?
3. Determine the total cost of the pay and benefits for this position.

Answer 1

There square measure multiple advantages to having a decent controller, and with all the changes happening within the money world, each business can wish to possess such someone on workers.

1- elaborated Recording- an intensive, dedicated controller can continuously keep elaborated records up up to now. this whole recording won't solely assist you in management your business accounts, however will be of nice help once you wish your money statements — or once your company is audited — as this method are going to be abundant quicker and far cheaper.

2- it's Easier to Plan- Once you've got an in depth recording and a stronger summary of the company's accounts, it's abundant easier to arrange and predict the longer term. once you square measure assured in your knowledge, you'll be able to solve problems quickly and you'll be able to grab any opportunities that gift themselves, while not having to concern miscalculations within the accessible knowledge. because of the summary of profit and loss evolutions within the record, you may be ready to recognize specifically what to try and do and the way abundant time you've got to try and do it.

3- higher Relations with Banks and Investors- That confidence will certainly improve business relations along with your investors and shareholders. to boot, banks are going to be additional willing to supply you with more cost-effective loans once they will see however your company is prospering. Any time AN capitalist is curious about the health of your company, you'll be able to simply show the present elaborated sheets and prove that the corporate is creating major success.

Hiring a account controller for the corporate, it'll undoubtedly impact on the price of the corporate. the corporate have to be compelled to pay explicit pay to the person however it'll facilitate the corporate to possess period info regarding the state of your accounts, you may be ready to react quickly to any changes that happen to the market or to your business and therefore the better part clerking tends to be less costly than accounting, it’s useful to understand that by having elaborated records {you can|you'll|you may} shorten the length of your time AN controller will pay on analyzing your accounts and making money statements. this may not solely diminish the price of accounting, however will offer you longer to bear upon the data provided by the analysis and alter any methods you may have planned.

An accounting worker United Nations agency performs government, skilled or body duties as outlined by the FLSA is exempt. Associate in Nursing body accounting employee’s main duty should be acting non-manual work directly connected to your customers or the management of your company. She should conjointly oft use personal discretion and judgment whereas acting her job.

The account bookkeeper should get bonus, when company earns good profit in the financial year or company is doing well in the business.

The salary company should offer to new account bookkeeper should be around 25k-30k plus extra bonus that he will earn.