From wages and direct deposits to benefits and overtime calculations, navigating your payroll’s moving parts is cumbersome.
Akin to payroll are taxes. In the United States, there are more than 15,000 tax codes. They change frequently… Keeping ongoing tabs of the ones affecting you is admittedly grueling.
Help for both processes is a cloud-based system away.
Today, top automated payroll systems detect over 250 common errors in the pre-processing stage, saving you both time and resources. You have access to over 450 standard reports and multiple report writers – both analytical and ad hoc – keeping vital information at your fingertips. It also spares regulatory woes: industry averages peg a third of US businesses are fined for incorrect payroll processing each year.
They also provide availability of distributing, filing and tax reporting with ease. No matter your company’s size, these systems have you covered on all tax jurisdictions—whether it’s federal, state or city, they encompass them all.
The American Payroll Association (APA) estimates that automation reduces payroll processing costs by as much as 80 percent annually, adding further to your ongoing savings.
Rational: Why Automate Payroll?
- An overview of HCM system’s full-service payroll functionality:•
- Post-tax reports, payroll registers, post-payroll reports and general ledgers in real-time, all from a single system•
- Real-time payroll processing that allows you to input data, make changes, run reports and submit payroll from wherever, whenever•
- Complete tax and wage garnishment processing services that provides you with all pay options, manages third party payments, files taxes and reports garnishments on your behalf•
- Flexibility to track an unlimited number of benefit providers, benefit plans, company assets, education, skills and organizational positions, from basic demographic information and emergency contacts, to full benefits management functions and regulatory requirement paperwork, such as W-4 or I-9•
- Out-of-the-box functionality that’s built with the end user in mind, featuring deduction, benefits, PTO and general ledger interface reports•
- Support for a multitude of accounting software integrations for general ledger imports into your current accounting and ERP systems•
- A self-service payroll document library that was built to provide employees secured 24/7 self-service access to manage their demographic information, review and print paycheck stubs and/or direct deposit advice stubs, review reports specific to them, and manage and view W-2 information.
Discover How
Reid Payroll & Consulting Services, LLC provides an easy-to-use, cloud-based platform to manage entire employee lifecycles. It’s a single-source solution with one database and one employee record, providing you a cleaner environment than a cobbled suite of applications.
The SaaS/cloud delivery model ensures you always have the most up-to-date features and compliance requirements. From online applications to benefits self-management, Reid Payroll increases efficiency, eliminates redundancy and maximizes employee productivity.
Contact Reid today for a complementary consultation and system demonstration, whether you’re considering automation, or if your current HCM system isn’t optimized for payroll and tax management.