Every business with employees must manage payroll.
Perhaps it is the owner or, more often, an overworked HR manager with - or without - a staff. Regardless, payroll management is a time sensitive, critical and time consuming process for every business.
Using tools such as a payroll calculator, or a simple payroll management software can speed things up for you. But the botttom line is that payroll still takes a great deal of time and is fraught with potential errors, misfilings, and compliance issues.
3 Strategies To Make Your Payroll Management Easier
Manual timekeeping systems actually cost you more money than using an automated one. Time is wasted when manually clocking in for work.There is the time your payroll clerk spends preparing, reconstructing, verifying and computing time card totals. There are inaccuracies that cost you money.
Outsourcing your payroll process is often a cost-effective strategy. Did you know, if you outsource your payroll functions, you have also become a socially conscious business owner, whether you know it or not? Handing out paper checks has a much larger footprint on the environment than the paper check in itself. Setting up online payroll is really setting up a green payroll solution.
An automated timekeeping system isn’t hard to use. Therefore, you can train your entire payroll personnel how to use the system. In fact, the system allows you to set your policies once and it does the rest. Your computer makes the calculations for you. This applies to your policies regarding overtime pay, holiday pay, shift differential and pay rate setting.
Businesses that use an automated timekeeping system have an increased productivity rate. Human Resource employees spend less time trying to track down employees:
- Double check time.
- Create records.
- Calculate time.
1. Streamline Pay Systems
Some employees receive a salary and it can be hard to properly calculate these. Automated timekeeping systems eliminate discrepancies and inaccuracies.
2. Alter Employee Habits
You have the best employees. However, every employee is prone to leave early, arrive late or frequently add or delete time. Automated timekeeping systems actually cut down on these types of activities.
3. Decrease the Impact of Absences
Your payroll personnel take vacations, sick leave or have other types of absences. Automated timekeeping systems keep the payroll department running smoothly.
4. No re-entering Information
Unlike a manual timekeeping system, automated timekeeping systems do not require your payroll staff to continuously re-enter employee data into your payroll system.
Automated timekeeping systems help your business keep up with labor laws, regulations and employee hourly data more efficiently than manual timekeeping systems.
#2. Outsourcing Your Payroll Process
There are a number of advantages to this strategy aside from having a "green" payroll process. This is a partial list of the benefits that can come from outsourcing your payroll:
1. Direct Deposit
Eliminating paper checks can save your employees money too. For example, your employees will save gas and reduce carbon emissions, as they will not need to drive from home to pick up their check and drive to the bank to deposit.
If your employees do not have a bank account, a paycard is also an excellent green payroll alternative.
3. Retirement Account
Decrease the need for excessive paperwork by allowing your employees to check their 401k retirement accounts and make investment elections and contribution rates online.
4. Health Insurance
Eliminate the need to send out paper E.O.B statements in the mail. Employees now can look up medical claims online.
5. Online Tax Reporting
You are required to fill out and file payroll tx forms. Online payroll processing can reduce the work of filling out these forms and reminds you of deadlines. This will help you to avoid penalties.
#3 Outsource Your HR
For some businesses, this can be the most efficient and cost-effective strategy of all. Transitioning all of your critical HR functions to a third-party provider like Accuchex can free up numerous resources for a business. What you recieve in services include:
1. Payroll Services
We process payrolls, deposit taxes, and file tax returns for companies with employees in all fifty states and territories. Your payroll is handled by payroll specialists making sure that everyone gets paid correctly and on time.
2. Payroll Tax Services
Each payroll cycle Accuchex calculates the employer taxes, withhold the employer taxes and schedule the tax payment transmissions to the appropriate tax agencies depending on the threshold put forth by the various states and the IRS.
3. Time and Attendance
Accuchex provides time keeping solutions that are designed to integrate seamlessly to our proprietary payroll management solution. This full system integration eliminates the possibility of human error as well as saving you the time and money of data entry.
Accuchex Insurance Services, LLC is an independent insurance agency specializing in employee benefits. Accuchex Insurance works with you to provide the right products, services and support with the flexibility necessary to adapt to your changing organization.
5. Human Resources
Accuchex has teamed up with the CalChamber to help you navigate the most complex and rigid labor laws in the country and provide employer labor law experts, human resource professionals and pro-business staff lobbyists.
Making Payroll Management Easier
Let Accuchex help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.
Choosing the right payroll solution provider for an online payroll service will save you time and money. It will benefit your employees and reduce their impact on the environment. And that is truly a "green" payroll solution.