If you have a business, you probably have employees. And, if you have employees, you’re going to have to pay them. Payroll can be a complicated beast because of the tax regulations, private employee information, direct deposit options, and much more.
One of our clients was really struggling with their payroll processes because their lead accountant had to manually update employee information and didn’t always have the most up-to-date or accurate data. This caused confusion for both employer and employee. The accountant was also giving out paper copies for payroll, so he had to print out all the earnings statements and hand deliver them to over 100 employees at the firm. This was extremely time-consuming: printing the documents, stuffing envelopes, and ensuring they got to the proper person. It was also a large waste of paper resources. The time it took to deliver also made it impossible to deliver timely information, as it ran the risk of becoming outdated.
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- Payroll Tax Service: This service runs on top of Microsoft Dynamics GP and makes payroll taxes quick and painless. This service files all returns, calculates optimal deposit schedules, and transfers payments directly from accounts. This makes payroll extremely easy for our client. It even creates reminders for the payroll administrator to go into the payroll center to process paychecks. Employees can also access their paycheck information as well as W2 data at year end.
- Employee Portal: The employee portal makes it possible for employees to update their information online. It’s a hosted website that displays paystubs and W-2s and allows self-service timesheets, profile changes, and more. Employees can edit and request a change. Once that request is approved, that change is automatically flowed over to Microsoft Dynamics GP, eliminating the need for additional data entry and creating real-time functionality for earning statements.
These engines streamline payroll processes for the employer as well as for their employees. The product is quickly paying for itself in time and resource savings. It also ensures they are compliant in their tax regulations and adds the peace of mind they were missing before. It’s now easy to make changes, access updated and real-time payroll data, and keep private information secure within their system.
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