Processing payroll becomes increasingly complicated with business growth and with constantly changing regulations. In addition to changes in tax codes, the Affordable Care Act (ACA) is impacting payroll processes, and the amount and type of data needed for compliance reporting only adds to the complication. Payroll processing isn’t a one-person job any more, it requires an attention to detail from the accounting team, the CFO, and other financial managers as well as robust add-ons to Microsoft Dynamics® GP Payroll business management solutions.
Processing payroll isn’t exactly easy, and grows more complicated as you increase the number of employees and the benefits that are offered. The pressure is on for your CFO and accounting teams to manage payroll, benefits, and regulatory compliance with unwavering accuracy and efficiency. Managing such a variety of detailed information can’t be trusted to spreadsheets. For reliable, accurate payroll processing you need the support of strong payroll solutions.
- Employee Rate Changes: Employees may have pay rate changes at any time during the payroll process. Instead of manually calculating and entering changes for the next payroll run, you can use Mid Pay Period Rate Changes to streamline the entire process. You can use this add-on solution to change pay rates at any time for any employee, which are then automatically implemented during the next payroll run. Employees can see their old and new rate changes on their earnings statement and be confident that their paycheck is accurate.
- Correct Over-Withholdings: There are strict regulations pertaining to health insurance and life insurance withholdings and manually calculating this data can be risky. Refunding employees for over-withholdings can also be time-consuming without the right solution. Negative Deductions Enhancement makes it easier to correct over-withheld deductions. After entering normal deductions, Negative Deductions Enhancement automatically calculates the appropriate deductions which can appear on an employee’s check.
- ACA Compliance: This new regulatory burden is taking up valuable time as businesses learn how to capture and report information properly. The ACA Compliance Solution is an essential add-on that can streamline ACA reporting so you aren’t distracted from other important payroll and accounting tasks.
Today’s CFO and accounting teams are under a lot of pressure to manage efficient, accurate payroll and benefit processes. Contact Integrity Data for more information about the add-on solutions that can streamline complicated payroll processes.