Payroll Technology: The Gravity of the Situation

PAYROLL TECHNOLOGY THE GRAVITY OF THE SITUATION Does it feel Ilike Earth could orbit the sun in less time than it takes to process payroll manually? You're not alone. BANDWIDTH LIMITS EXCEEDED 58% ! WARNING of administrators say they spend too much time on manual payroll transactions.' On average, manual payroll processing takes 7 minutes per employee each pay period. For a company of 150 employees paid biweekly, that's 35 hours per month.' Running error-free payroll with dated, insufficient technology is like trying to defy gravity. MANUAL OVERRIDE It's estimated that errors from manual methods cost companies 1-8% of total payroll.? WARNING Over half of small businesses process up to 50 off-cycle paychecks per month due to easily avoidable errors.³ That's more than 700 paychecks per year. INCORRECT SETUP FAILURE TO MISCLASSIFIED UPDATE SUI RATE POOR RECORD EMPLOYEE TYPES KEEPING IMPROPER USE OF TAX CODES Compliance, tax filings, and federal reporting obligations can be more painful than being struck by an asteroid. DAMAGE STATUS $4.5B in fines were collected by the IRS after issuing nearly 7 million penalties to businesses in a single year.“ WARNING Failure to properly comply with regulations, such as the Affordable Care Act, can leave employers facing thousands of dollars per employee in fines. BLAST OFF WITH POWERFUL PAYROLL TECHNOLOGY. It's not rocket science. The excessive time, money, and effort spent managing payroll with inadequate tools ends now. ENSURE PAYCHECK ACCURACY Screen, correct, and approve the pre-process payroll register to ensure your employees receive accurate paychecks. INTEGRATE WITH PREFERRED VENDORS Transfer benefit files, 401(k) information, and more automatically with a payroll system that integrates directly with the vendor(s) of your choice. AVOID IRS PENALTIES Relieve the burden of tax compliance and trust that filings will be done correctly, on time, and most importantly-free yourself of liability. ENHANCE EMPLOYEE EXPERIENCE Let employees update personal information, view paystubs, request time off, and more with self-service features designed to maximize efficiency. STATUS CHECK... раylociy www.paylocity.com/solutions/payroll Elevating Payroll & HR across the backroom & into the boardroom. For references, visit: www.paylocity.com/contentlib/PayrollTechGifo/ Copyright © 2016 Paylocity. All Rights Reserved.