Expense

Dominion Systems Expands Relationship With Enquiron

Retrieved on: 
Monday, April 6, 2020
Payroll, Employment compensation, Expense, Human resource management, Dominion Energy, Energy, Economy of the United States

BOSTON, April 6, 2020 /PRNewswire-PRWeb/ --Dominion Systems, an online payroll & HR software that provides payroll, time and attendance, and human resource management solutions, recently expanded its relationship with Enquiron.

Key Points: 
  • BOSTON, April 6, 2020 /PRNewswire-PRWeb/ --Dominion Systems, an online payroll & HR software that provides payroll, time and attendance, and human resource management solutions, recently expanded its relationship with Enquiron.
  • "Dominion Systems is committed to providing the best customer service experience possible, and expanding our partnership with Enquiron demonstrates that commitment."
  • "We look forward to our expanded partnership with Dominion Systems," said Mike Naclerio, President & CEO of Enquiron.
  • We look forward to engaging Dominion Systems clients and showing them just how much value Dominion Systems is providing."

Economic Fallout of COVID-19 Triggers Temporary Layoffs and Stopgap Measures

Retrieved on: 
Monday, April 6, 2020
Employment, Employee relations, Articles, Employment compensation, Working time, Human resource management, Expense, Payroll, Pandemic, Layoff, Flextime, Furlough

While some employers may not be able to avoid permanentlayoffsas a result of the pandemic, others are exploring temporarylayoffs orother stopgap measures in the interest of keeping as many employees on the payroll as possible, says XpertHR.

Key Points: 
  • While some employers may not be able to avoid permanentlayoffsas a result of the pandemic, others are exploring temporarylayoffs orother stopgap measures in the interest of keeping as many employees on the payroll as possible, says XpertHR.
  • "Employee retentionshould be a top priority for employers during challenging times," says Marta Moakley, JD, Legal Editor, XpertHR.
  • As the economic fallout of the pandemic mounts, employers can consider alternatives to layoffs, such as hiring freezes, furloughs, flexible working arrangements and reductions in salary and benefits.
  • "Because the pandemic requirements change often, HR professionals should ensure that the organization is following thelatest guidance relevant to the COVID-19 pandemic."

BP Prudhoe Bay Royalty Trust Announces No Unit Payment for First Quarter 2020

Retrieved on: 
Friday, April 3, 2020
Oil, Gas, Energy, Companies, Oil companies, Expense, Intellectual property law, Patent law, Royalty payment, BP, Industries, Legal entities

As provided in the Trust Agreement of the Trust, the quarterly royalty payment by BP Alaska to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter.

Key Points: 
  • As provided in the Trust Agreement of the Trust, the quarterly royalty payment by BP Alaska to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter.
  • The amount of such revenues is obtained by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day.
  • As a result of the decline in oil prices during the first quarter of 2020, the daily WTI price was below the break-even point for each day of the quarter after January 23, 2020, resulting in a negative value for the payment calculation for the quarter.
  • However, as provided in the Trust Agreement, the payment with respect to the Royalty Interest for any calendar quarter may not be less than zero.

CED Calls for Full Funding for COVID-19 Small Business Loans

Retrieved on: 
Friday, April 3, 2020
Business, Economy, Income statement, Entrepreneurship, Employment compensation, Expense, Payroll, Paycheck, Small business

"Aid to small businesses is needed urgently and deeply and must be delivered swiftly.

Key Points: 
  • "Aid to small businesses is needed urgently and deeply and must be delivered swiftly.
  • The CARES Act provides small businesses with a measure of critical relief by establishing a new Paycheck Protection Program loan, which is empowered to lend roughly two months of payroll costs to every eligible business.
  • This risks a spectacle of financially well-connected and well-advised businesses receiving loans, at the expense of smaller, more-vulnerable small businesses.
  • With that assurance, more of our small businesses will be able to retain their trained workers while they await relief.

Justworks Launches New Tool to Help Businesses Offer COVID-19-Related Paid Leave

Retrieved on: 
Friday, April 3, 2020
Income statement, Employment, Employee relations, Employment compensation, Expense, Payroll, Leave, Tax credit, Family law, Maternity leave in the United States, Payroll tax

The FFCRA requires businesses with fewer than 500 employees to provide their employees with paid leave for qualifying reasons related to COVID-19.

Key Points: 
  • The FFCRA requires businesses with fewer than 500 employees to provide their employees with paid leave for qualifying reasons related to COVID-19.
  • With Justworks, businesses can seamlessly schedule COVID-19-related paid leave, keep their employees on payroll, and claim the applicable tax credits offered by the government to pay for their leave in full.
  • The new tool ensures that employees on leave are being paid accurately and employers are paid back for eligible leave wages through FFCRA tax credits.
  • The new FFCRA paid leave tool in Justworks went live for all customers on April 1, 2020.

NanoVibronix Announces License Agreement for WoundShield Product

Retrieved on: 
Thursday, April 2, 2020
Expense, Intellectual property law, Patent law, Royalty payment

ELMSFORD, N.Y., April 2, 2020 /PRNewswire/ -- NanoVibronix, Inc .,(NASDAQ: NAOV), a medical device company that produces the UroShield, PainShield and WoundShield, and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it signed a license agreement with Sanuwave Health, Inc. for the manufacture and delivery of its WoundShield technology.

Key Points: 
  • ELMSFORD, N.Y., April 2, 2020 /PRNewswire/ -- NanoVibronix, Inc .,(NASDAQ: NAOV), a medical device company that produces the UroShield, PainShield and WoundShield, and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it signed a license agreement with Sanuwave Health, Inc. for the manufacture and delivery of its WoundShield technology.
  • Under the terms of the agreement, NanoVibronix will receive 100,000 warrants of Sanuwave stock, a $250,000 milestone payment based on FDA approval, and 10% royalty on Sanuwave'sgross revenues from sales or rentals of WoundShield.
  • In return, Sanuwave has received the worldwide, exclusive rights to the company's WoundShield product and technology.
  • "This agreement is consistent with our strategy of partnering with category leaders with significant sales resources in our key technology markets with UroShield, PainShield and now WoundShield."

Kane Russell Coleman Logan CARES Task Force Will Provide Legal Guidance to Employers and Businesses to Navigate New Federal Aid for Businesses

Retrieved on: 
Wednesday, April 1, 2020
Payroll, Employment compensation, Expense, Russell Coleman

DALLAS, Texas, April 1, 2020 /PRNewswire-PRWeb/ -- Immediately after President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, Kane Russell Coleman Logan has announced its formation of the KRCL CARES Task Force.

Key Points: 
  • DALLAS, Texas, April 1, 2020 /PRNewswire-PRWeb/ -- Immediately after President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, Kane Russell Coleman Logan has announced its formation of the KRCL CARES Task Force.
  • The task force will work with businesses and employers on the best processes for obtaining federal government relief aid and managing employees and payroll.
  • "I am proud of the employment practice group for taking fast action," said Gordon Russell , a founding Director of the firm.
  • Kane Russell Coleman Logan is a full-service law firm with offices in Dallas and Houston.

FADEL Launches in Paris to Support Continued Growth in the Publishing & Gaming Sectors

Retrieved on: 
Wednesday, April 1, 2020
Expense, Intellectual property law, Patent law, Royalty payment

NEW YORK, April 1, 2020 /PRNewswire-PRWeb/ -- FADEL, the leading provider of rights & royalty software, today announced that it has set up a wholly-owned subsidiary in Paris, France to support its French customer base and continued expansion into the rest of Western Europe.

Key Points: 
  • NEW YORK, April 1, 2020 /PRNewswire-PRWeb/ -- FADEL, the leading provider of rights & royalty software, today announced that it has set up a wholly-owned subsidiary in Paris, France to support its French customer base and continued expansion into the rest of Western Europe.
  • FADEL's cloud-based solutions IPM Suite Licensing Edition and IPM Suite Publishing Edition help gaming and licensing companies and publishers to:
    Automate accurate and timely royalty payment calculations to content creators such as authors, trademark and IP owners, and game developers
    Seamlessly integrate with enterprise systems for financials, product information management, contract management, and business analytics
    The French subsidiary will be focused on customer success, by providing in-country senior-level rights & royalty management expertise and helping best support French clients with the implementation and delivery of their rights management and royalty accounting solutions.
  • "With this new business expansion, we are fully committed to delivering our solutions to the French market and the broader European market," says Tarek Fadel, Founder and CEO of FADEL, "As a major business hub, we feel Paris is a great base for this continued growth."
  • Supporting our customers during the global pandemic caused by coronavirus (COVID-19), FADEL is committed to delivering rights & royalty management education, as well as providing advisory and implementation services through remote sessions.

ClassWallet Provides Free Access to its Platform for School Districts Nationwide to Help Teachers Get Needed Supplies and Materials While Working Remotely from Home

Retrieved on: 
Tuesday, March 31, 2020
Articles, Economy, Technology, Expense, Insurance, Reimbursement, Tax, Point of sale, Educational technology, Bookkeeping

There's no cash or credit card outlay required by teachers, and bookkeeping and reporting is handled automatically by the platform for oversight by the districts.

Key Points: 
  • There's no cash or credit card outlay required by teachers, and bookkeeping and reporting is handled automatically by the platform for oversight by the districts.
  • ClassWallet also offers an automated reimbursement tool that enables teachers to purchase from off platform vendors and submit receipts for review.
  • When approved, ClassWallet automates an ACH direct deposit and getting teachers the reimbursed funds in days rather than weeks.
  • The company's two products for teachers and parents focus on ease and flexibility for the end-user, and unparalleled control and fraud mitigation for administrators.

Devon Energy Provides Revised 2020 Capital Expenditure Outlook and Hedge Update

Retrieved on: 
Monday, March 30, 2020
Economy, Capital budgeting, Capital expenditure, Financial capital, Fixed asset, DVN, Devon, Expense, Business

OKLAHOMA CITY, March 30, 2020 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today provided updates to its 2020 capital expenditure outlook and hedge position.

Key Points: 
  • OKLAHOMA CITY, March 30, 2020 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today provided updates to its 2020 capital expenditure outlook and hedge position.
  • Based on current market conditions, Devon has elected to further reduce its capital expenditures by an additional $300 million for the full-year 2020.
  • The revised capital outlook of approximately $1 billion represents a reduction of nearly 45 percent compared to the companys original 2020 capital budget.
  • With the revised capital plan, Devon now expects to fund its 2020 capital program within operating cash flow at current strip pricing.