Whether you’ve worked in payroll for weeks or years, you probably already know that correcting payroll mistakes isn’t easy. Whether it’s a mistake in hours, pay rates, or attributing time to the wrong department or pay code, it’s a nightmare to fix. An error on a paycheck sends a bad message to employees and going back to make adjustments is time-consuming and complicated, to say the least. No one said correcting payroll mistakes was easy, until now.
Payroll Headaches Are Fixable
Have you ever entered the wrong pay code, applied time to the wrong department, or made a mistake on an overtime calculation? It happens. Probably more often than you’d prefer to admit. One simple mistake costs valuable time. Multiple mistakes can eat up hours, if not days. As your headcount increases, so does the time it takes to process timesheets into paychecks. Pushed to meet deadlines, the risk for mistakes also increases. Correcting payroll mistakes hasn’t been easy, which is why it’s time to make changes.
Two Solutions You Need to Correct Payroll Mistakes
Correcting payroll mistakes is time-intensive. Even with Microsoft Dynamics GP Payroll, it can take up to 17 steps to reverse incorrectly paid earnings or adjust calculations on a previous payroll run. Not only is the process time-consuming, it’s frustrating for both the employee and your payroll team. Here are two easy add-ons to GP Payroll you need for correcting payroll mistakes:
- Streamline payroll corrections: Reduce a 17-step process to one simple step. Negative Payroll Transactions offers a more efficient way to make payroll corrections. You simply enter a negative transaction. That’s it. The negative transaction is then automatically carried through the entire payroll process. The change is reflected on the payroll reports and shows up on the next earnings statement. Records update through to general ledger entries, appropriate credits or debits are made and an audit trail is created.
- Correct over-withheld deductions: Refunding over-withholdings can also be a complicated process. Creating a negative deduction is one way to get through it, but there is a better way. Negative Deductions Enhancement was designed specifically to address over-withholdings and saves valuable time in the payroll department. Simply enter a deduction for over-withheld health insurance or life insurance amounts and let Negative Deductions finish the process. Deductions can be delivered on a check with wages or a check with no wages. The deductions will appear on a pay stub and a transaction report will detail the converted and non-converted deductions in the payroll process.
Processing Payroll Is Complicated, Unless You Have the Right Tools
Payroll processes grow increasingly complicated with new rules and regulations, an increase in headcount, and with changes to the payroll and benefit options offered to employees. Complicated and manual processes lead to mistakes, which are often difficult to fix in an efficient and timely manner. Put the right tools and technology in place to strengthen and streamline complicated payroll processes. Negative Payroll Transactions and Negative Deductions Enhancement are simple, affordable and powerful time-saving solutions for correcting common payroll mistakes.