Control over payroll activities is not only good for your employees, it can be good for your bottom line. In many industries, your employees will split time across different departments or on different tasks. By understanding where your people are spending their time, you can monitor labor needs across different departments in an attempt to reduce waste as well as make strategic plans for future labor needs.
Many businesses require employees to work across multiple departments, split shifts, or on tasks that may alter their pay rate. Managing these pay rate changes can become increasingly complex, especially as you add headcount when times are busy. Streamline this complicated payroll task by deploying Employee Accounts and Splits, which seamlessly connects to your Microsoft Dynamics GP solution. With this simple, affordable software solution, you can allocate employee payroll costs based on department, position, pay code, or general ledger account. The tax and benefit expenses are then automatically calculated accordingly, including period end distributions for FUTA, SUTA, and Worker’s Compensation expenses. For employees that routinely split accounts, you can assign the setup code to that employee or all employees that may qualify for that split code.
You can also budget and maintain position information to monitor full time equivalent (FTE) data by department and position with the FTE Manager. You can import budget data by fiscal year, department, position, and period or a combination of these variables. You can then budget by FTE and prepare reports on actual versus budget data. The FTE Manager also includes built-in automatic notifications that can alert you when requisitions, changing employee information, or new hires could exceed your budget.
By monitoring the data you capture in the Employee Accounts and Splits and the FTE Manager, you can gain insight into your labor needs and productivity. You may identify trends with labor that could indicate seasonal changes or that may necessary with new business growth. With this insight, you can forecast future needs while also monitoring profit margins. You might also discover new ways to reduce waste and improve productivity.
Streamline complex payroll tasks with the Employee Accounts And Splits and the FTE Manager. Contact us for additional guidance with these and other time-saving payroll solutions.