How to Achieve Faster Payroll Processing

Achieve Faster Payroll Processing

June 16, 2021

You know that every minute counts in your day. You are being asked to do more with less and deliver more today than you did yesterday. Time is a valuable commodity: everyone wants more of it, and those who make the most of it usually come out ahead.

Automation is one of the simplest ways to save time and make life easier. When it comes to payroll processing, there are many manual functions that can be effortlessly automated through cloud-based employee time clock software. This turns payday into an easy day for HR and payroll administrators.

Make payroll processing quick, quick, quick

As you look to automate as many aspects of payroll management as possible, time tracking is perhaps the most important, yet most often overlooked. Without automated time tracking, you are wasting time with spreadsheets and paper punch cards.

While we are constantly surrounded by technologically advanced experiences such as Extended Reality and predictive medicine, many American companies still depend on manual time tracking systems every day. A study featured by Quickbooks reveals that 38% of US companies still track employee time manually. Many companies are holding on to their punch cards, paper timesheets and timecards. These time tracking methods are prone to errors, which only add to the hours and hours of manual calculations needed when using them to process payroll.

Let automation do the work for you

In addition to time tracking, automate payroll calculations. The American Payroll Association estimates the rate of human error in timecard preparation and totaling can be as high as eight (8) percent. Time clock software automatically performs employee timecard calculations and applies your company’s overtime and regular hour payroll rules.

Replacing these outdated manual processes with an automated employee time clock system reduces the workload for HR and administration. It also allows supervisors to easily jump in and quickly view employee punch times, approve or deny time-off requests, and view employees’ benefit time. The efficiency of payroll processing automation allows everyone to make the most of their time and quickly move on to their other job responsibilities.

Real-time visibility gets you real quick results

One of the benefits of a cloud-based time & attendance solution includes the ability to view all data in real-time. This means you always have access to the latest employee timesheet records, can run accurate reports based on that data at your convenience, and immediately correct any incorrect or missed employee time punches as they happen. This on-demand access equates to faster payroll processing.

Employees benefit from web-based employee time clock software, too. With data available on demand, they won’t have to contact HR for small requests. And employees can check their hours anytime they like instead of issuing formal time report requests.

Integrate with accounting and payroll systems

An automated employee time clock system will automatically integrate with most payroll processing software such as ADP, QuickBooks, Paychex, Payworks, and more. By contrast, outdated employee time clock solutions force you to re-enter employee timecard data into your payroll system, wasting time and increasing errors. This direct integration exports employee hours and proper pay codes into the payroll system of your choice.

 

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