Today’s guest post is authored by Katie Davis in Workforce Ready Product Management. Workforce Ready customers – read on to discover three ways to make payroll easier.
From the outside looking in, payroll seems like such an easy task; but from within the walls of a payroll department, it’s an entirely different view. Chasing down managers to approve timesheets, maintaining confidentiality, keeping up with ever-changing tax laws, balancing wages and taxes, reconciling the payroll bank account, handling employee inquiries – this is just a glimpse of what payroll departments confront every day.
Everyone knows the “Easy Button.” What if we had an “Easy Button” for payroll that we simply had to press to make payroll tasks easy and effortless? Sadly, there isn’t an “Easy Button,” but there are great features within your Workforce Ready Payroll solution that can help you streamline tasks. Here are three did-you-know tips.
Did you know that Workforce Ready has an Announcement feature that will help you communicate payroll changes to your organization?
Quickly and easily communicate significant payroll changes to your entire workforce. Go to Company Settings > Our Company > Announcements to program a communication. You can set messages to display to all employees or to a specific group of employees as well as designate a timeframe so the message will display indefinitely or for a specific date range. The message can be set to display on the employee dashboard or as a pop-up notice when employees log in to Workforce Ready.
For example, the State of New York began offering Paid Family Leave that is funded by employee payroll contributions. Employers can use the Workforce Ready Announcement feature to let employees know about important tax changes such as the New York Paid Family Leave employee payroll contribution or any payroll change that will impact pay for a group of employees.
Did you know that Workforce Ready has a Bank Account Transactions feature with an import template that will allow you to easily reconcile payroll transactions?
Automatically reconcile transactions drawn from the payroll bank account through the Bank Account Transactions feature in Workforce Ready. Perform reconciliation manually one transaction at a time, automatically in a group of transactions, or via an excel import template. To reconcile a bank account within Workforce Ready, go to Company Settings > Payroll > Bank Accounts. Click on the View Transactions icon for the bank account you would like to reconcile. This will open a screen where transactions can be reviewed and cleared or uploaded via an import template. The import template allows you to clear items from their bank statement in mass rather than clicking on each item individually.
Did you know that Workforce Ready has a Payroll Summary by Employee data export that will allow you to get in front of wage and tax discrepancies before they snowball into amended returns and a balancing mess?
All payroll professionals want to stay on top of balancing wages and taxes to make quarter-end and year-end a breeze. Run the Payroll Summary data export at any time throughout the year to get a view of all earnings, deductions, taxes, and gross wages and subject wages by employee. Navigate to Company Settings > System Data Export > Data Exports and exported into Excel/CSV to run the data export. Subtotal the columns to add earnings and subtract pre-tax deductions to tie back to the subject wages for each tax code. The data export can be run by quarter, year, pay period, or any date range the user sets.
Using these three tips can save your payroll department the time and effort associated with important payroll communications. It can also help your team take a proactive approach to payroll balancing and bank reconciliations. All payroll professionals would love to have an “Easy Button” that would magically produce accurate paychecks and tax files. With your Workforce Ready solution, you’re a step closer!
For more information or to continue the conversation with fellow Workforce Ready users, check out the Workforce Ready – Payroll and Tax group in the Kronos Community. Please note: you must be logged in to the Kronos Community to share posts and comments in this group.