Multiple Cost Centers and Rate Changes Holding Up Your Payroll?

Multiple Cost Centers and Rate Changes Holding Up Your Payroll?

Multiple Cost Centers and Rate Changes Holding Up Your Payroll?Posting payroll wasn’t always so complicated. Preparing and posting payroll used to be simpler, especially when the headcount was lower and there were fewer pay rate changes and allocations to deal with each week. However, with growth, payroll grows more complicated. These complications cost both time and money. Here’s how you can streamline complicated payroll in Microsoft Dynamics GP without breaking the bank.

How Did We Get Here?

Business growth is most often organic and slow-developing rather than dramatic overnight success. While it’s exciting to see your products or services gain in popularity, it often means hiring more staff. You likely need additional skilled employees to support the increase in business activity. More employees mean there will be more timesheets to review, data to be processed and a higher volume of payroll posting. All of this leads to an increased burden on your payroll team.

Adding to the headcount is just the start. You may also decide to reconfigure the business model and how you allocate labor and expenses. Sharing employees across multiple parts of your organization is a good way to optimize labor, ensuring that the right people are performing the tasks suited to their experience and abilities. This is another pressure point that makes payroll posting more complicated. Now what?

Two Ways to Streamline Payroll in Microsoft Dynamics GP

Whether you are experiencing growing pains now or are planning for growth, be sure you have the right payroll tools that can keep up. Two common payroll complications involve splitting the labor and expenses over multiple cost centers, and dealing with rate changes between payroll posting. These challenges require close attention, especially when using manual processes. Here are two ways to streamline complicated payroll posting:

  1. Multiple cost centers: Scheduling employees to work across multiple departments or on different projects is good for the bottom line; however, difficult for payroll posting. Splitting time and expenses on each time sheet requires complicated calculations. This costs valuable time for the payroll team. Employee Accounts and Splits automates the process. You establish how costs should be allocated, for example by percentage based on department, position, pay code or general ledger account. Once the setup record is created, the split code automatically makes the appropriate calculations, including tax and benefit expenses and distributions.
  2. Unscheduled rate changes: There are any number of reasons to make a rate change for an employee. However, it’s a process that’s more often easily said than done, as they say. Multiply this payroll complication by a handful or dozens of employees and your payroll team will share their frustration. Mid Pay Period Rate Changes automates this time-consuming process. When it’s time to offer a raise, for example, simply enter the rate change with a date that it becomes effective, then let this add-on solution do the rest of the work. Employees can see their old pay rate and corresponding hours on their statement, as well as the new pay rate with those corresponding hours.

Position Your Business for Growth

Your payroll team isn’t stuck with ineffective systems or dealing with complicated payroll posting. You have options. Deploy the technology that will streamline complicated payroll processes, improving productivity and, therefore, your bottom line. Contact Integrity Data to learn more about Employee Accounts and Splits, Mid Pay Period Rate Changes and many other affordable payroll solutions for Dynamics GP that will address your most complicated payroll posting problems.

2018-02-21T15:34:04+00:00February 21st, 2018|Microsoft Dynamics GP, Payroll and HR Software|0 Comments

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