Automating your payroll system creates an efficient process that tracks time and attendance, calculates wages and benefits and ensures regulatory compliance. A fully automated online payroll system provides many advantages to employers including reduced costs and enhanced productivity. Employees benefit from this system because they can count on accurate data inputs, and they are given convenient access to their own information.
Importance of Access to Proof of Income
The check stub that accompanies each payout is a very useful piece of paper to your employees. Lenders recognize the document as proof of income when your employees apply for an auto loan or a mortgage. Property managers for lease approval require the same document. The pay stub may be presented to show proof of income when applying for consumer credit, auto insurance or tuition discounts for employees and their dependents.
Fortunately, using an online payroll system has made it possible for you to distribute pay stubs electronically based on a regular schedule. Email notifications about availability of pay stubs may be scheduled shortly before or after funds are released.
What Employees Should Know about their Pay Stubs
For businesses transitioning to an online payroll system, it is important that employees understand how the automated process improves their access to their wage and benefit information. With paper-based systems, employees typically receive a copy of their pay stub together with the paycheck. It is their responsibility to maintain a file for their pay stubs to make sure that they have it handy when the need arises. Payroll services may generate copies of their pay stubs when requested, but this may take time and prove inconvenient for those who work in remote locations.
Should your employees need to present proof of income, they can access their own account and print out copies of the pay stubs that they need. This system ensures that they have quick and convenient access to wage-related documents that they need when they need them.
The Electronic Check Stub Delivery Process
Employees can be notified via email that their most current pay stub is available for review or download using any compatible device. After signing into their account, they can review their payout information, request corrections if needed and archive copies for their own use.
Clients of Integrated Payroll Services, Inc. can expect convenient access to electronic pay stub delivery through employee self-service. You activate notifications when documents are ready for viewing, and your employees may access their accounts on the go using personal computers or mobile devices.
This service may seem trivial compared to other benefits of converting to an automated payroll system. However, electronic check stub delivery with email notification is convenient for employees who can then create electronic files of their payout documents. This service also reduces the workload of the payroll department and focuses productivity on important tasks.