Fines and Lawsuits

  • Your current method of compiling information for W2s is inefficient. If it is a manual process, it takes too long and it is a challenge to complete them on time as required by law. Sometimes, to have to redo them due to inaccurate numbers, and you cannot produce the new year’s payroll without having finalized W2s, etc. from the previous year.
  • It takes too long to create required quarterly reports for workers’ compensation and unemployment. They may not be accurate the first time.
  • You have to pay unemployment. Your current approach to tracking/paying your unemployment is inefficient. You have to pay workers’ compensation, but your method of tracking and paying your workers’ compensation is also inefficient. It takes too much time, and you are concerned with reporting accurate amounts to the government or overpaying.
  • You need to update the tax rates within your current system often. This is not an automatic process, it takes too long, and you are not very confident in its accuracy.
  • You do not have ways of setting security rights within your current system. That is difficult to set up and takes too long. Sometimes, the wrong people access sensitive data, and information gets into the wrong hands. This has negative impacts, such as employee dissatisfaction and even lawsuits.

About the Author: AJ Amjad Khanmohamed

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