Many businesses utilize an overtime pay program, whereby employees are paid at a different rate for extra hours worked. While overtime pay is mandatory in many situations, overtime pay isn’t a blanket calculation. How it’s applied can vary by region. The state of California, for example, has a unique overtime requirement. While overtime pay is great for employees, it introduces complications in the payroll department. In addition, when left unchecked, overtime hours can impact profit margins before you know it. Want to know how to keep overtime in check and ensure compliance with regional overtime rules? Read on.
Overtime Calculations Are Complicated
There’s no way around it, overtime calculations are complicated. There is rarely a one-size-fits-all calculation that applies in every situation in which overtime is allowed. Making matters worse, keeping tabs on overtime hours is often a manual process. Counting the minutes from timesheet to timesheet is tedious and time-consuming, not to mention opens the door to mistakes. As you can imagine, workers aren’t pleased when they experience a payroll mistake. Neither is your payroll department. Fixing mistakes after a payroll run takes even more time out of their day.
There is a better way to gain control and insight over overtime pay in Microsoft Dynamics® GP Payroll. Replace manual overtime calculations with a simple, efficient add-on solution.
Automate Overtime Calculations and Strengthen Compliance
Once Overtime Hours Rules is in place, you will be able to manage overtime by day, week, pay period or a combination of these three time-periods. You set the priority order and establish which pay code or hours are eligible to the overtime rules. The system then automatically calculates eligible overtime hours without any additional steps required of your payroll team. You’ll save valuable time with this automatic process, instead of managing timecards or timesheets, manually calculating hours and making corrections when mistakes inevitably happen.
Gain Control Over Overtime Hours
Managing overtime adds to the time required to process timesheets for payroll. Determining which hours are eligible, then calculating how much should be applied during the payroll process is tedious and time-consuming. Fixing mistakes eats up even more time, especially as employee head count grows. Save time, frustration and money by automating the process. Contact