We work with payroll managers to save significant time through payroll processing. As a payroll manager, how much time do you spend on payroll processing? If your organization wants to grow, payroll demands will only become more time-consuming and complex, what with new hires, employee benefits, hourly vs. salary payment methods, complex tax filing requirements, etc. How can you manage employee payroll and simultaneously address your growing responsibilities?It’s not a secret employees like to be paid the correct amount on a consistent basis. If you have an effective payroll process in place, payroll managers are less likely to spend extra time managing requests, making corrections, and addressing contradictions. What does effective payroll processing look like from an outsourced company and how can it save you time?
1. Paperless
Payroll companies can eliminate paper processing, immediately saving you time and resources. Once they bring payroll services online, you don’t have to spend money on paper, printer ink, envelopes, stamps, and labor costs for printing, stuffing envelopes, and ensuring the paychecks get delivered. We at USA Payroll can help you go paperless with direct deposit and e-filing taxes.
Direct Deposit
To implement paperless payroll processing, we can set up direct deposit through an ACH (Automated Clearing House) file. This is a favorite among employees because they don’t have to wait for their paycheck to be delivered – their earnings are immediately transferred to their preferred bank account.Direct deposit saves on labor costs as well, since employees won’t have to contact the payroll manager for their check or to make changes to their account – they can access all their payroll information online at any time.
Electronic Tax Filing
E-filing can save you significant time on payroll processing, especially during tax season. The payroll system automatically fills in the information on the form and submits it online – nothing is printed or completed on a hard copy. As your new payroll company, we would assume this responsibility so you don’t have to worry about filing.The Affordable Care Act (ACA), also known as Obamacare, often gives employees a big headache when they try to file taxes. Why not let an automated payroll processing company handle it instead?
2. Save Time on Time Entry
Stop wasting company time on employee clock-in and attendance, especially if your company is still using a manual timecard system. Get it all done from one unified web-based server.The payroll processing system pulls the time clock information directly from the internet, so you don’t have to manually log in their times – often a time-consuming task that often leads to entry errors. You don’t have to install any special software either; everything you need is located via the internet – on whatever device you choose!
3. Tracking Important Dates
If you use in-house payroll software instead of a payroll processing company, you know how important it is to remember important dates.How often does your jurisdiction require reports for payroll taxes? How do they want it reported? Monthly? Quarterly? Annually? Most jurisdictions require quarterly and annual reporting for income tax withholding, unemployment, and social security taxes.If you’re overwhelmed with remembering all these dates, you can set up your payroll processing system to send you reminders every time something important is due to help you avoid penalties. An employer who neglects to remit payroll taxes on time is subject to hefty fines.
4. Updates
Are you tired of manually entering updates that apply to a large group of employees or even the whole company? When you use a payroll processing system, you don’t have to update any of the information manually; deductions, benefits, earnings, payroll information, paid vacation, and taxes can all be automatically updated. Mass updating not only saves time but also reduces entry errors, and is extremely helpful to companies that are growing steadily.If you have any questions about payroll processing, we’d love to chat! You can contact us at 888-872-2432 of fill out our online form.