The payroll department is a busy place with people managing a lot of data each and every day. Your payroll team is pulled in several directions as they prepare data for financial reports, taxing authorities, shareholders and payroll processing.
As you can imagine, even with Microsoft Dynamics GP Payroll, mistakes are inevitable. That said, correcting payroll errors or over-withheld deductions doesn’t have to be complicated or time-consuming. Here’s how you can fix payroll mistakes quickly and accurately.
Correct Payroll Errors in Dynamics GP with Ease
Yes, you’re using a state-of-the-art ERP system, but incorrectly paid earnings still requires you to undertake a huge manual process with multiple steps that must be completed to fix payroll mistakes. Unfortunately, a distraction— say, a phone call or a co-worker who pops by with a quick question— can pull you out of the process, forcing you to start the steps over again.
If you have to correct payroll errors in Dynamics GP for multiple employees, it might feel like you’re spending half your life dealing with incorrectly paid earnings. (And, in truth, you’re probably spending a not-insignificant amount of time that could be more profitably spent elsewhere.)
Fortunately, there is a solution available for Dynamics GP that will take care of this for you. Negative Payroll Transactions streamlines the process of fixing payroll mistakes, turning many steps into one. A process that once took a huge portion of your time now takes seconds. All that’s required to reverse errors is to enter a negative pay code transaction, and the incorrectly paid earnings on any previous pay run will be adjusted with no further action on your part.
Bonus? You won’t have to worry about ensuring that your financial records are updated. It’s completed automatically as part of the Negative Payroll Transactions process, and the corrections or adjustments are kept consistent, including:
- Making appropriate credits and debits
- Updating the General Ledger
- Creating an easily traced audit trail
- Modifying earnings statements
Eliminate Deduction-Related Drudgery
Health insurance is complex under the best of circumstances, and the current confusion over the state of the ACA isn’t making matters any clearer. Even the most straightforward benefits plan is still complicated enough to make a veteran payroll pro’s head spin.
When it’s brought to your attention that there’s been an over-withheld deduction, whether it’s related to life or health insurance, you probably resign yourself to spending a good portion of your valuable time resolving it.
However, a tool like Negative Deductions Enhancement will significantly simplify the process. All you’ll need to do is enter the deductions, and the software will take over from there. Whether a terminated employee needs their corrected deduction taken from their final payments or you need to modify automatically recurring deductions for many employees at once, Negative Deductions Enhancement will get it right the first time.
The deduction will be clearly displayed on the employees’ pay stub, so there will be no confusion. The Negative Deductions Enhancement program will create a Negative Deduction Transaction Report that will detail deductions, converted or non-converted, that were processed per payroll cycle.
Prevent Payroll Problems with Improved Processes
As your business grows, the payroll process will only become more complex. Errors will further complicate matters, wasting time and crushing efficiency. Utilize the tools that will help you expedite your payroll processing. Affordable GP Payroll add-on solutions, such as Negative Payroll Transactions and Negative Deductions Enhancement, will maintain your productivity and improve morale within the payroll department.
Ready to adopt this technology? We can help. Contact Integrity Data to learn more about the software that will help you fix payroll mistakes faster than ever before.