Paper or Plastic?


A new Kansas law could lead to the elimination of paychecks—paper ones, anyway. The state’s employers can now require employees to receive their pay either by direct deposit or pay card.

And it could save businesses a lot of money.

While most states still require that employees have the option to receive paper paychecks, more than 70% of Americans participate in direct deposit.

What about workers who don’t have bank accounts?

According to a study by the Federal Reserve Bank of Philadelphia, pay cards are one of the least expensive ways to receive wages. They act like debit cards for wages and can provide the cost savings and convenience of electronic payments even for employees who don’t have bank accounts.

The most expensive way to pay wages? Paper checks.

Source: American Payroll Association, www.americanpayroll.org.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.