Tracking employee time and attendance is critical to accurate payroll data, planning and budgeting, and it has never been easier than with Microsoft Dynamics GP Timecard Entry. GP 2015, which included updates to Employee Self Service and removed its dependence on the Business Portal, was released last December (2014), just in time for companies to tackle new reporting and information requirements mandated by the Affordable Care Act (ACA).
There are numerous advantages to using automated timecard entry functionality, especially now that it’s self-contained within Microsoft Dynamics GP. Some organizations opt for a dedicated Time & Attendance solution, which is not always necessary as robust functionality is built right into GP and integrated with finances.
Benefits of Microsoft Dynamics GP Timecard Entry:
- Streamlines the payroll procedure by automating data collection and calculation, while creating an efficient and error-free routine for HR and Accounting.
- Provides the ability to create activity codes or other categories for employees to log their time against.
- Creates accountability and transparency into your workforce and how time is being allocated.
- Positions your payroll data for easy, frequent reporting.
- GP reports generated from timecard data help create a reliable audit trail, simplify compliance and track information required for ACA compliance.
- Simplifies in-house payroll procedures. By conducting payroll in-house, rather than outsourcing it, the entire process lives within GP and eliminates the manual re-entry of data reported back from payroll companies.
- It’s workflow-integrated for tight security, preventing errors as timesheets and edits must be approved by the appropriate role(s).
Conversely, if your employees must calculate and manually report their time, your company likely suffers from non-standardized methods for reporting and viewing how time is allocated. Additionally, you must trust that every employee has calculated their time accurately and honestly. Without reliable documentation, your organization will have to spend significant time preparing for compliance audits.
The underlying theme with automated timecard entry is twofold: employee autonomy and accurate data.
With the Affordable Care Act in full effect, organizations must adhere to the changes in reporting and information tracking required from the IRS. A critical component for this compliance is readily available payroll data. Since ACA requirements depend heavily on your company’s number of Full Time Employees (FTE’s), you must not only collect payroll data, but ensure that it is accurate, accessible and reportable. Ultimately, your payroll data serves as the proof to the IRS that the number of FTE’s that you claim is true, and that you indeed provide them with healthcare benefits which require assistance.
Timecard entry in Microsoft Dynamics GP 2015 enables all of this by making the data easily accessible and digestible, putting you one step closer to simplifying your compliance with the ACA.
Enhanced Features in Microsoft Dynamics GP 2015 Timecard Entry:
- Contained solely inside of GP and removes reliance on Business Portal
- Time on Behalf – employees can have permissions to enter time on behalf of other employees
- Timecard Assignment Setup – allows you to setup default values for departments, shift codes, positions, etc. that employees can log their time against. These defaults are editable at the employee level, as well.
- Pay Schedule Setup- allows you to set up payroll years in the pay periods you want for each of those years
- Timecard Restrictions – allows you to set up values for minimums and maximums of hours per day, or hours per pay period, and which fields in the payroll timecard entry window will be editable by the employee
- Timecard Batches – allows you to select timecard values so you can create default batch prefixes for various combinations of locations, employees, classes, etc.
- The ability to assign employee tasks to specific GP Users or roles
For a high level estimate of your investment in Microsoft Dynamics GP, get a free
If you would like to learn more about how to utilize Timecard Entry in Microsoft Dynamics GP, OR if you need help positioning your company for ACA requirements, give us a call:
By Turnkey Technologies, Inc. - Microsoft Gold Certified Dynamics ERP and Dynamics CRM Partner of Missouri, Illinois, Oklahoma and North Texas.