The Value of Payroll Automation
Many of the tasks associated with payroll can simply be mind-numbing for your HR employees. These tasks are easy but very time-consuming. Completing payroll doesn't feel rewarding because we will have to do the same mundane tasks again soon. The people handling payroll often do so on mental "auto-pilot," which makes the process more subject to human error.
Payroll automation can alleviate all these problems. Payroll software is an incredibly accurate time-saving tool regarding wages, regulatory and tax compliance, timesheets, leave management, and more. It also leads to increased accuracy in your accounting. Once implemented, payroll automation immediately starts to pay dividends.
Common Payroll Tasks to Automate
Time Tracking: Using payroll software makes it easier for employees and managers to keep track of everyone's hours. There's no more confusion in the process. Using the software increases employee production because it makes them more accountable under this system.
Wage Calculations: Wage calculations tie directly into time tracking. An error in an employee's wages that results in them being underpaid can be a huge morale hit. This repetitive, mundane task takes a lot of time to do manually. Automating the process leads to increased accuracy and fewer headaches.
Tax Calculations: Compliance with the tax code, deductions, and other mandatory contributions is another issue that wastes a lot of time in the payroll process. The software can do this automatically when calculating payrolls, saving a huge amount of time and reducing the risk of any errors. Mistakes in tax calculations can mean hefty fines for your business, so it makes sense to automate for this reason alone.
Report Generation: Generating reports may not be difficult, but it does require a lot of time. Payroll software can generate reports on time tracking, accumulated leave, attendance rates, compliance, and many other areas. New hire reporting, union reporting, 401K reporting, and other types of reports are a breeze with automation software.
The Transition to Automated Payroll
The first thing you should do when transitioning to payroll automation is let the affected staffers know about it and how it will impact their work duties. Let them know that the software's time-saving nature will free them up for other tasks, and it will make their lives easier. Change always makes employees nervous, so your first step should be alleviating fears over the new system.
Once you implement the software, you can input your payroll data before using it. Before the system goes live, you should allocate time for fully training employees. Our systems at Exact Payroll are user-friendly, and we can assist with any questions you have during the training process. Once your data is input into the payroll software and your employees know how to use it, you can switch to the new system anytime.
Role of Payroll Software
Payroll software is not a replacement for your HR staff. It is a tool that increases efficiency, accuracy, and productivity. With the time that your HR employees save by using payroll automation, they will be able to carry out other tasks that are more rewarding and more important to your company's bottom line.
How Exact Payroll Can Help
Exact Payroll is here to make those mundane payroll tasks into a faster, easier, and headache-free process. Time tracking, leave tracking, wage and tax calculations, report generation, and other tasks become more efficient and accurate.
Ready to save time and increase accuracy with payroll automation? Contact Exact Payroll today for a free demo of our top-tier payroll software.
