Overview: Payroll processing is full of complexity. Employers are responsible for paying their employees in a timely manner and for deducting and remitting any required payroll taxes, wage garnishments, tax levies and premiums for benefits, and for reporting payroll data to federal, state, and local governments. Luckily, there is an abundance of technology available to keep track of everything from the number of employees an employer has to the specific amount of each deduction from their pay.
Automated payroll systems (APSs), such as application service providers (ASP) and software as a service (SaaS) providers, use computer software not only to compute payroll but also to perform several other functions necessary to the payroll department. There are many system options available and much to consider in selecting and implementing the right system:
Author: Rena Pirsos, JD, Legal Editor
A new Payroll Year-End Practices and Procedures Checklist has been added to the Policies and Documents Tool to help employers close out the year's payroll in compliance. The checklist also provides essential month-by-month practices and procedures that help employers keep their payroll administration organized all year long.
This checklist helps employers successfully close out the year's payroll in compliance with the income and employment tax laws and regulations, and provides essential month-by-month practices and procedures that helps employers keep their payroll processes organized all year long.
XpertHR's Financial Services Resource Center for HR helps financial services employers handle their most challenging employment issues by bringing relevant resources together in one place for easy access.
Paying wages to employees via electronic paycard is a relatively new and increasingly popular method available to employers as an alternative to direct deposit. This How To maps out the steps employers should follow when considering whether to implement a paycard program and how to do so effectively.
Employers that receive failed verifications from the Social Security Administration are at risk for tax penalties. This How To will help employers resolve discrepancies expeditiously and prior to taking adverse employment action.
Managing payroll is a complex task. Employers can make the process easier by either outsourcing payroll to a third party or by using an automated payroll system (APS). This section explains the pros and cons of outsourcing and of various APS options.
Examination of payroll processing through functions such as automated payroll systems, and tips and guidance on their selection and implementation.