Four Ways to Simplify Payroll Processing
Business owners are put the test at each and every turn along their path. The day-to-day operations can make all the difference—these extraordinarily important tasks that require tremendous attention to detail can often overwhelm and subdue the necessary energy for growth in those at helm. Payroll processing is one of these such tasks; if any detail is missed or left out, a company can incur sizable tax liability. Here are some tips for making sure every “I” is dotted and all the correct exemptions are claimed early on.
- Categorizing Workers
With TempWorks HR Center, your HR team has all they need to create new hire profiles, as well as classify and categorize them—keeping them in nicely organized files just a click away. Your HR Manager has the ability create workflows, edit applications, and add or remove an 19, W4, or customize background check information.
Workers are ordered as employees when the employer establishes a consistent relationship. With a strong worker-employee relationship, an employee is given all proper tools to execute daily tasks and if they want, initiate a termination process. If the employee has been well-trained on how to perform tasks, they can be paid. Compensation for workers categorized as employees requires employers to withhold taxes and report all wages subject to taxation. Unemployment tax, Social Security, and Medicare are the responsibility of the employer. But you won’t have to think too hard about this with TempWorks HR Center, it prompts you all the way through with reminders, and it allows you to categorize your new hires as -incomplete or complete-so that every time your HR manager checks in on their progress, they rely on the most up-to-date information.
- A little due diligence goes a long way
Do your research when choosing company software. Choose an option hosted on a cloud like TempWorks HRCenter. As a result, your life will get simpler by easing your access to all your payroll information at any time. Here at TempWorks, with HRCenter, when an employee completes the W4 online, the federal exemptions, federal additional withholding, and marital tax status will automatically post-fill into the corresponding fields within the pay setup page. As well, local taxes are automatically generated and determined by the area code entered into the employee profile. Understanding just how much time this saves you will help in choosing the software that works best for your company.
- Simplify. Simplify. Simplify.
Invest in time-saving software that works for your business. Whether it’s to reduce human error, avoid lost and shuffled paperwork, or you want to bring down your monthly cost for payroll services, investing in an HR platform early makes all difference. Its time-saving tools enable your HR Managers to keep everything centralized—only a few clicks and a password away. In the long term, it saves you money because it’s saving time.
- Paystubs are Passé
Having choices and eliminating processes when necessary are crucial steps to simplifying your payroll processing. Your employees are most likely chucking paystubs into the recycling bin and doubling up with a copy in the cloud. Paystubs are a time-consuming nuisance—an unnecessary expense you can get rid of with the flick of the wrist and a tap of the finger. With online processing your employees always know where to go to find and print out their last two paystubs. All your employee data is one area, no need to print, file, or fax timesheets to a payroll provider, state and federal filings are automated, secure back-ups on all your employee payroll data, and it’s eco-conscious! Technology gets more sophisticated every day. Customers, employees, and business partners are counting on you to keep up with the speed and accuracy of the times. Knowing your business and your employees and understanding what they need to improve upon the simplicity of their lives will make everyone’s life easier and free up a little more time for family and fun.