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5 Simple Tips for Payroll Processors

By May 3, 2012February 1st, 2022No Comments

Are you struggling with payroll?

Use these
5 simple steps to help reduce your payroll stress:

1. Review your internal cut-off points…
Bank deadlines for pay day don’t move so neither should your own internal cut-offs.  Don’t let individuals in your company delay processing with late submissions of data.  Be strict with them. The needs of the many outweigh the needs of the few.

2. Don’t just pay employees…
Pay your third parties, e.g., pension provider, health insurance, savings deductions, gym membership, union, etc., at the same time you are paying the employees and on the same bank file. Many birds, one stone.

3. Throw out the printer..
Where possible provide payslips for employees electronically by email or using a web portal.  A web portal offers a better experience than a simple email method but either will save you time and money every pay period.

4. Automate, automate, automate…
Review your payroll software to ensure it has the right functionality to make your job easier.  From inputting data to management report generation, e.g., GL upload file for accounts or producing files for third parties for upload to their systems.   Save time by reducing administration.

5. Up-skill
Keep up to speed with the latest budgetary changes that affect payroll to ensure you have all the information needed to calculate the payroll accurately.  Your understanding as well as the payroll software itself needs to be kept up to date, e.g. treatment of benefits offered. There are also plenty of payroll resources online (like this blog) that you can follow on Twitter, Facebook, LinkedIn, etc giving you easy access to information.
No excuses. If in doubt, go on a course or add some expertise!

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All the best,

The Team at Jefferson | Outsource Your Payroll Today 

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