Many companies today delve into business with full force without even taking cognizance of the brass tacks of Human Resources management. Some of these companies soon run out of luck and are seen rushing out of business at a time when the “smart” ones are busy making waves and leveraging their chances with payroll processing and efficient HR management.
The “smart companies” and what they use
Do you fall in the category of those who still use manual systems to process payroll? Well, you have to understand that avoiding pitfalls in payroll is just as paramount as your company’s existence. Overlooking the fact that manual payroll processing systems are archaic, these systems have shown incompetence due to a number of payroll difficulties that they fail to alleviate.
Now let’s take a look at the top 4 difficulties experienced when processing payroll:
1. Setting up Employees Correctly
Setting up your workforce aright with detail to staff duties and functions is very important to your payroll. Your business, as well as any other company out there, have the option of hiring workers either as a contract staff, freelancer or as a permanent employee. You get things wrongly once you start classifying everyone working for you as your employee. Wrong classification of workers pose serious problems as businesses are ever-answerable when it comes to paying their employees’ taxes and any other fine.
2. Calculating the Proper Deductions
One of the most challenging part of payroll is taking the time and stress to calculate and process deductions from employee remuneration. This issue is commonly eminent across businesses and HR departments because federal, state and local law requirements should be followed down to the last detail, especially when making deductions from employee salary. Many companies find this issue so difficult that they resort to payroll automation services like On-time Web.
3.Utilizing Direct Deposit
After necessary tax funds have been processed and deducted from both employee and company earnings, your decision about deposit matters a lot. There are several complex rules and policies guiding each form and timing of deposit as they all depend on your business’ tax obligations. Although using direct deposits (electronic paychecks) has its requirements, payroll automation is considered to be cost-effective and efficient when it comes to unravelling errors or solving related difficulties.
4. Calculating Time ticket entries
The process of entering employee time ticket requires serious attention down to the very last detail. Any incorrect entry of time ticket through manual payroll system could single-handedly taint the overall record. Trying to locate the mistake would not only amount to waste of your precious time and resources, the headache that comes with is definitely going to be unbearable.
Solving Employee Attendance Issues through Payroll Automation
A smart HR manager that intend to champion all the complexities payroll processing should opt for a single best, cost-effective solution – Payroll automation. Payroll integration is included among the spectrum services we offer here at On-time Web. Our team of experts specialize in providing clients with bespoke payroll software and services that are integrated custom features for business needs. Visit our website today www.on-timeweb.com