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
Updated to reflect forthcoming FLSA overtime exemption requirements.
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