With tax day right around the corner, your accounting team is probably looking forward to a bit of a reprieve. They’ve worked hard to collect and prepare necessary statements, documents and forms for your employees and business as tax day approaches. Provide your accounting department with these two time-saving tools to help your hard-working team through next year’s tax-preparation—and throughout the year.
Preparing year-end tax documents and submitting records to the IRS is often a high-pressure time for your financial team. There is a great deal of financial data to collect, reconcile, validate, then use for reporting to shareholders, banks, employees and the IRS. Interrupting your accounting and payroll team during this time only makes these tasks take longer and adds to their frustration. Instead, provide your team with these two tools and take some of the pressure off for next year’s year-end reporting.
- Employee E-Mail Suite: The paperwork generated during annual reporting can be overwhelming. Printing and mailing statements takes time, which only increases with your headcount. Instead of adding to the growing stacks of paperwork, go digital with the Employee E-Mail Suite. Prepare direct deposit earnings statements, W-2s, and 1095-C Statements and email them to employees. Documents are sent as an encrypted Adobe PDF which only requires employees use a password to open. Without logging onto a web portal, employees can receive and view statements on their home computer, laptop, tablet or smartphone. Employee E-Mail Suite offers timing options, enabling you to send out statements immediately after posting payroll or a day or two later once wages are deposited in the bank. In addition, an optional archival process stores employee documents in case a re-issue is needed.
- Paycheck “What If” Calculator: Employees often want to know how changes to their net pay could impact federal or state exemptions or deductions. This is a common interruption in many accounting departments that wastes time and is particularly frustrating when preparing year-end documents. Give employees the power to answer their own questions with the Paycheck “What If” and Gross Up Payroll Calculator. Employees can evaluate their options by changing pay, taxes and deductions or calculate the gross-up amount of a bonus or gift. These changes are only viewed by the employee and will not impact the master record.
These simple add-on solutions provide powerful time-savings and automation in your accounting department. Improve productivity, streamline year-end reporting and empower employees to answer their own questions with the Employee E-Mail Suite and Paycheck “What If” Calculator. Contact Integrity Data for more information about these and other add-on solutions that will save time and money with payroll and benefits management.
By Integrity Data, a Microsoft Dynamics GP ISV out of Illinois