If you work on a calendar year, you know the next few months are going to get hectic in the payroll department, to say the least. You aren’t alone. Businesses are dealing with holidays and employees using vacation time while trying to prepare month-end, quarter-end, and year-end reports. As employees work hard to keep up with daily tasks and reporting deadlines, mistakes may be made. Provide employees with simple, yet effective, technology to strengthen the payroll process and correct payroll mistakes faster.
It's Not Always a Winter Wonderland in Q4
Why does it always seem so hectic in the office at the end of the year? It’s pretty predictable if you work on a calendar year schedule. There are several multi-day holidays at the end of the year, employees take extra days off for vacations and there are more reports to complete than at other times of the year. That combination usually means a reduction in productivity.
While vacationing employees and an increase in reporting doesn’t necessarily mean you should sound the alarms, there is the added pressure to get things done quickly. Distractions and over-stressed employees create conditions that are ripe for mistakes. Unfortunately, making mistakes with payroll and financial reporting makes matters even worse. It takes even more time to correct mistakes, which further impacts productivity and puts important year-end tasks further and further behind.
Streamline Year-End in Dynamics GP Payroll with These Tools
There is a better way to get through year-end with fewer issues and better productivity. Modern business technology continues to evolve and now you can provide employees with stronger tools for the job, like these solutions for Dynamics GP Payroll:
- Correct payroll mistakes faster: Payroll mistakes happen, especially when employees are rushing to get payroll processed. Even in modern software like Dynamics GP, it can take multiple steps to make the correction or adjustment. With , you can correct payroll mistakes in just one step.
- Fix over-withheld deductions: Mistakes with health insurance and life insurance amounts can also easily happen at the end of the year. Correcting over-withheld amounts can be a time-consuming process. makes this process much easier and more efficient. Simply refund deductions that were over-withheld and let the system do the rest of the work.
- Split employee costs accurately: Many businesses rely on employees to work across multiple departments or projects, especially when other employees are using vacation time at the end of the year. Splitting costs, tax and benefit expenses is complicated without strong business systems. automates the process, saving valuable time. Split employee costs by percentage based on department, position, pay code or general ledger account. This solution automatically allocates tax, benefits and other distributions including FUTA, SUTA and Workers’ Comp.
It is possible to get through year-end activities with fewer challenges and improved productivity. Put the right technology in place to streamline and strengthen payroll operations. Your payroll team will have fewer distractions, waste less time correcting mistakes and will be less stressed at this busy time of year. Contact for more information about these and other powerful .
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