Payroll is a part of the job that most managers and companies want to get over and done with as quickly as possible. With so many other important tasks to attend to, it can be difficult to stay on top of your payroll duties. It’s not something you really ever think about until there’s a problem.
A company’s payroll process can often be one of the most time-consuming tasks for HR departments. But by streamlining your payroll process, you will save time and money and reduce the chance of error. These simple steps will help you do just that!
Efficiently Track Employee Time
Time tracking is a no-brainer, but there are numerous disputes that can arise as a result of poor time tracking. For example, calculating overtime pay and alternative schedules for employees. When there are disputes, it can take up a great deal of time, energy and resources from both the company and the employee.
Another issue is that most employee time tracking software is developed for computers, but many employees are on the go as remote work becomes the new norm. A need for mobile time clock solutions compatible with smartphone devices has arisen, allowing employees to log their time from a mobile device, rather than a desktop or laptop.
The benefits of accurate time tracking are not only reflected in precise pay, but also in increased productivity and a decrease in errors, creating a much more pleasant working environment. Payroll mistakes can often lead to audits, which are very expensive for companies to incur, so it’s in your best interest to record every minute of work time.
Reduce or Eliminate Paperwork
Implementing electronic time and attendance solutions offers user-friendly interfaces that facilitate the automation of paper-based time tracking, e-filing, direct deposit, and recurring payments. Moreover, such systems contribute to time savings through automated tax calculations and the processing of deductions, including those related to W-2s.
Automate Your Processes
There are several key areas of payroll processes that can be automated, which include:
- Payroll Reports
- Time Tracking and Employee Processing
- Payroll Template Creation
- Part-Time and Sick Leave Tracking
- Social Security
By automating the process for these different areas of payroll, your HR team can focus on bigger, more complicated tasks, such as improving workforce morale and tackling tough employee engagement issues. These simple automation tasks not only save time, but they also result in a much more reliable, accurate and stable payroll process.
When your HR is able to focus on actual human resources issues, such as employee engagement and employee loyalty, you will see a difference in overall company culture.
Update records to reflect changes in status and remove clerical errors
Before you implement a comprehensive payroll solution, it’s important to make sure all of your employee records are up to date and factually accurate, so that you can hit the ground running. All employees should have an updated work history, and you should review the status of payroll liabilities and receipts monthly, as they may contain errors.
Once your payroll system has been set up, review your existing files regularly to make sure all of the information is correct. Log errors or clerical errors so that you can fix them, rather than making the same errors a few months down the line. For example, make sure that you update hours reported for employees in your payroll to reflect the current status of work.
The best time to update your employee records is at the beginning of the month.