Payroll is a big deal. From navigating the ins and outs of whatever payroll software your company is running, to making sure you have all the information you need from your employees, to staying in compliance with all pertinent regulations and laws state to state. It can get to be a real headache to make sure you’re staying on top of it all. But there are several things you can do to reduce your payroll workload, simplify and automate, and let your accounting team take a sigh of relief.
Many companies maintain different pay schedules, such as monthly paydays for management and weekly, or bi-weekly pay periods, for hourly employees. This can cause a lot of confusion and excess work when it is so much simpler to align all pay schedules. The act of minimizing pay cycles consolidates work and can reduce errors substantially. It helps prevent duplication of processes so that your payroll department can operate more efficiently, focus on one task at a time, and make everyone’s lives simpler in the process.
If you haven’t switched over already, paperless payroll is the way to go. It’s the direct result of improved technology and can almost immediately expedite your payroll operations. With paperless payroll, you do more to maintain the security of your company’s data, don’t waste money or time on printing paper time sheets or physical paychecks, and improve employee information collection and management with an online portal. When it’s done right, implementing a paperless payroll process is a win-win for everyone.
Your payroll process is only as good as your payroll software. If you’re due for an upgrade, there are many, many options available to you. With newer, state-of-the-art payroll technology, you can see a significant decrease in the time spent processing payroll while ensuring greater accuracy in data entry and processing. Make sure your payroll team is trained up and ready to make the most of your new system to get the most bang for your buck.
There are many opportunities to streamline processes within payroll, but it might not be clear right away how to do so. If you have a great payroll software package but aren’t sure if it’s saving you time or money, that’s problematic. If there is a disconnect between your company’s accounting system and the payroll software, for example, there is a clear issue that needs to be solved. Like many companies do, having multiple systems for capturing, tracking, inputting, and processing employee hours and payouts can increase the opportunity for error and overall ineffectiveness of a system. Consolidate where you can. And make sure that your system is working for you, not the other way around.
Do more to simplify and streamline your payroll systems by connecting with the team at USPRO today. Contact us today!
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