How to Improve Your Company’s Payroll Efficiency in 2020

Working with an online payroll processing system to run your company’s payroll is not too difficult, if you select the correct payroll system provider for your company that makes the most sense. The system must have the functional features, data and reporting capabilities your company needs to run its payroll effectively. Certain online payroll providers like, the Payroll Company, for example, offer dedicated employee online portals which provide limited feature access that allows staff to update basic employee details, such as number of exemptions and employee benefit payroll deductions, for example.

Online Payroll Calendar Importance

Simplifying and improving payroll data entry is just the start. If the data needed to complete payroll does not arrive in a timely fashion, it can turn any payroll period into a disaster, no matter how amazing the new payroll processing system is subscribed to by a company. Company’s must have a payroll calendar so everyone in the company knows when payroll is due and when it will be paid.

Developing a payroll calendar is simple process that is not too time consuming. In some instances, if the new online payroll processing system a company signs up for doesn’t include a payroll calendar development tool, an excel spreadsheet will work. Most payroll software provider companies, like Albuquerque, NM, based payroll processing company, the Payroll Company, have a payroll calendar tool built into its payroll processing software.

Payroll Integration with Important Company Systems

Payroll is interdependent in most companies with several standard company business systems and department. Those systems and departments including tax, bookkeeping, accounting, timekeeping, benefits management and human resources. When a company processes payroll manually it is like juggling multiple balls in the air, which is close to impossible. To make this happen effectively and do it correctly mean all the information for each department and business system would need to be very organized and easy to access.

Signing in on for an effective payroll software program will bring all these tasks and integration into one system that ties it all together.

The top online payroll processing software packages include dynamic user-friendly integration components ready to use immediately. The minimal system that makes the most sense to sign up with must be able to connect with your company’s accounting and bookkeeping software and keep track of attendance. The system should viewable in one place from both desktop and mobile. If it has these features, it means users can handle payroll from anywhere and be able to view reports as well anytime of the day or night.

For company’s that want to implement high-level integration there are payroll software programs that feature application programming interface capabilities. This type of system allows subscribers to develop specific integration that meets the exact needs of the company, instead of just the canned features the systems includes out of the box.

Scheduled and Random Audits of Company’s Payroll System

Reviewing company payroll on a regular basis is a plain prudent strategy every business should follow. Auditing payroll should be part of a company’s ongoing monthly task list and it should also be done randomly as well. Since the beginning of time in business payroll has been a place where fraud has been perpetrated by unscrupulous people. It is much better to trust your staff, but then verify to confirm the monies being issued by payroll employee rolls match up with the company’s accounting, bookkeeping, and human resources records.

When doing a payroll audit, review the company’s payroll rules and polices. Be sure to be seek out any policies that cause misunderstanding and then change them where it makes sense to make the rules as user-friendly and easy to comply with as possible. Discuss your payroll audit with the company and ask for direct discussion and comments about issues, problems or concerns. Two sets of eyes or more are always better than one. The company staff can help identify payroll problems and bring them to the company’s attention. Do this on a regular basis to be certain all issues and problems are dealt with well and immediately.

Moving forward, complete an analysis of each phase in the company’s payroll process to check that it’s operation effectively. Consider each phase of the payroll process and then decide if each phase is needed or not.

Lastly, be certain your company’s payroll software is operating correctly. Test all integrations connected to it to see if there are any problems or real-life business mistakes that need to be corrected immediately. When it comes to critical areas like timekeeping, payroll tax compliance these areas have long lasting implications both financially and legally. Testing the company’s payroll software to check and see if it is set up and operating correctly is just smart business that will help your business stay in line in all areas connected to it and the company.

If you need assistance picking the best payroll service to meet your company’s needs, it makes sense to explore several new ones and then make the switch to one that will help your company in the best way possible.