Imagine the frustration of calculating payroll that takes as much as a day and a half to complete. And even after such a time-consuming investment, the data is consistently incorrect.
Adding up overtime and verifying paper logs against the time clock were becoming increasingly overwhelming for an IPS client until the company recently converted to an automated Time & Attendance solution.
“With our automated Time system, employees can clock in and out without filing any paperwork,” says John Feaman, IPS president. “This wipes out the chance of human error when manually adding up time sheets. With Time & Attendance, clients don’t have to keep paper copies. Everything is stored electronically, which provides easy access for the employee and the company.”
Here are additional ways that payroll automation can save time:
- With General Ledger (GL) services, IPS payroll specialists work with a client to understand their internal processes and how transactions are recorded in their accounting software. A journal entry is then created for every payroll cycle. This solution provides a balanced file that is mapped to a client’s GL accounts. Following each payroll cycle and with just a few quick clicks of a button, they can import the transactions and the journal entries are completed.
- Companies with an established 401K have to communicate with their program on employee deferrals, company match, and loan repayments following each payroll run. This typically requires logging on to a website and manually entering payroll data. With 401K integrations, the client directly uploads this data to their 401K. Another option allows IPS software to automatically send the necessary information directly to the 401K vendor after each payroll. This eliminates the need for clients to enter data twice.
With IPS Time & Attendance, what used to take our client up to a day and a half now requires about an hour to finish payroll. Once a trying and stressful job, the solution is being called a “miracle” by a satisfied customer.
For more information on automated time-saving services and solutions, contact your IPS representative.