fbpx

High Cost of Payroll

  • You manually update general ledger accounts with payroll information.
  • You may be using some type of export from one system and import in to your financial system.
  • Unknown who does that.
  • It takes much time.
  • Unknown cost associated with this process.
  • Causes inconsistency between systems or errors.
  • You do not have a system to manage HR processes, such as recruitment/applicant tracking.
  • Your HR and Payroll systems aren’t integrated.
  • Unknown time it takes to reenter data.
  • You have much time spent trying to reconcile and correct.
  • Unknown whether or how do they integrate.
  • You still find yourself doing duplicate data entry.Unknown impact of the time and associated costs.
  • Unknown information you track about your employees.
  • Unknown time it takes you to enter this information into the system.
  • You find yourself entering repetitive/like information that applies to many employees, such as pay code, department name, etc.
  • Unknown when whether you need to change information that applies to multiple workers, changes made per employee record or ways to update all records at once.
  • Unknown how to track benefits and deductions.
  • Unable to track all of them that you offer to employees.
  • It is difficult to accommodate premium charges.
  • Unknown how to apply these changes to all applicable employees.
  • Yo need to manually update each employee individually.
  • It takes much time.
  • Unknown how to capture employee hours/time.
  • Employees fill out some type of card that someone else then manually enters into your payroll system, Unknown time it takes the average employees to complete the time card.
  • Unknown time it takes someone to enter all of these hard copy timecards in to your payroll system.
  • Unknown time to reconcile the cards.
  • Unknown kind of reports you can operate today.
  • Unknown how many of these are completely created by you.
  • Unknown time it takes to create these.
  • You have to pay someone to create custom reports that you would expect out of your software.
  • You are unable to answer employee question’s quickly upon request, based on accurate and concrete data.
  • Unknown time it takes to access and compile this type if information when necessary.
  • It takes you long to create required quarterly reports for 941 reporting.
  • You have multiple companies.
  • It takes long to consolidate these numbers.
  • They are not accurate the first time.
  • Unknown how you compile information for W2s today.
  • If manual, unknown time it takes.
  • You have to redo them due to inaccurate numbers.
  • Cannot produce the new year’s payroll without having finalized W2s, etc from previous year.
  • There has been a cost associated with getting them out late.
  • You have to pay unemployment.
  • Unknown how you are tracking/paying your unemployment liability today.
  • It takes long to determine your unemployment liabilities.
  • You have to pay workers compensation.
  • Unknown how you are tracking and paying your workers compensation liabilities today.
  • Unknown how much time it takes to determine these liabilities

You May Also Like

About the Author: AJ Amjad Khanmohamed

Leave a Reply

Your email address will not be published.