Analyse The Definitive Year-End Checklist for ensuring financial growth in 2024, from reviewing timekeeping entries to planning budgets, ensure accuracy, compliance, and readiness for the coming year.
Track utilization rate and drive your team toward profitability!
January, 2024
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Secure your company’s financial growth as you strategize and plan for 2024 with AccountSight
Track utilization rate and drive your team toward profitability!
Calculating employees utilization rates not only provides insight into their available and billable time but also evaluates a company’s profitability, capacity, and potential for expansion. Is your team prepared to maximise its utilisation ratio?
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New DOL Rule: Department of Labor Releases Final Rule on Worker Classification
The US Department of Labor has recently introduced a final rule that aims to provide clarity for employers and workers regarding the classification of workers as either employees or independent contractors under the Fair Labor Standards Act. According to US Department of Labor, it takes into account six criteria that help in evaluating an employee’s connection with their company. They consist of:
- any opportunity for profit or loss a worker might have;
- the financial stake and nature of any resources a worker has invested in the work;
- the degree of permanence of the work relationship;
- the degree of control an employer has over the person’s work; whether the work the person does is essential to the employer’s business;
- and a factor regarding the worker’s skill and initiative.
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