Time And Attendance Seamlessly Flow Into Payroll
Payroll preparation is a labor-intensive process that requires coordinating various tasks on a regular basis. Time and attendance records, which are the raw data used to generate the payroll, should be entered according to a fixed schedule, audited for accuracy and linked to the correct metrics to generate the payroll for that pay period. This is tedious work, but fortunately most of these tasks have been automated in an online payroll system.
Digital Time Records
The age of paper time cards is over. Many businesses have embraced the new technologies that make recording attendance and hours worked more efficient. Clocking in and out at your company may involve the use of a badge reader, a fingerprint reader or a computer interface that allows manual entries for daily attendance. The automated process eliminates paper punch cards and the queues for punching in and out, saving time for everyone. An automated process facilitates real-time updates of time and attendance information and ensures compatibility with an online payroll system.
Benefits of Automating your Payroll Processes
The primary advantage of automating your time and attendance system is seamless coordination of information whether your online payroll system is managed in-house or outsourced to a third-party professional outfit such as Integrated Payroll Services, Inc. Using a time clock software with various access points depending on your needs, employees interface with the system as needed. Information is stored digitally, updated regularly and analyzed and edited for missing or incorrect information by authorized personnel.
An automated system saves on labor costs because there is no need for manual data entry and micromanagement of paper records. The system automatically calculates the total hours worked for the period and the wages due because it is set up with the demographic information of each employee, including crucial information such as pay scale. Errors are less likely with an automated payroll system although authorized personnel may edit data entered for corrections.
Automation and Outsourcing Payroll
Some administrative functions may be outsourced to improve productivity by having onsite employees focus on core business matters that directly affect the bottom line. Payroll management is one of the functions that can be outsourced safely and efficiently to a third party with proven expertise in this field.
An online payroll system is set up for automated updates as entries are added. The entire Time Clock service can be customized according to your specific requirements. Automation of your company’s timekeeping process will reduce the time and manpower needed to maintain the payroll. However, outsourcing the entire function may result in even bigger savings for your company. Monitoring and updating time and attendance data will require fewer personnel, which means an immediate reduction in your payroll costs or more people available to focus on essential, income-generating functions.
Outsourcing your payroll services triggers other benefits for your company. Employees have quick access to their own data when they need it, and paper records may be generated as needed without burdening human resources with this task. On the employer side, summary reports are easily prepared and analyzed to determine problem areas indicated by time and attendance records and wage expenses.
Call Integrated Payroll Services at (262) 646-5210 to see how we can make your business more efficient through the use of an online payroll system.