When you run a business, you know that payroll is part of the job description. Your employees work hard to support your success and, in return, you reward them with the appropriate compensation. If your payroll management is disorganized or fails to scale with your company, you’ll start to see efficiency issues, unhappy employees and unaccounted funds.
Working with a third party can help you keep up with the payroll demands of a growing business. Compass East provides payroll systems integration and administration, so you can focus on long-term projects while we ensure day-to-day payroll needs are met.
What Is Payroll Systems Integration?
Payroll systems integration is the process of introducing new software to existing systems. In payroll administration, a company may have a singular software for calculating and distributing paychecks. Many businesses rely on basic bookkeeping software to achieve their payroll processes, but it may not be the most efficient administrative method.
Systems integration aims to improve efficiency and address gaps in processing. These payroll solutions can include many other software types, such as:
- Time and attendance.
- Expense reporting.
- Accounting.
- Employee scheduling.
- Human resources.
- Point of sale.
Once a system is implemented, administration involves maintaining oversight on payroll data and ensuring every employee receives the correct payment. With systems integration and ongoing administration, companies can stay on top of payroll needs, keep a clear record of their expenses and ensure employees receive their paychecks on time.
Payroll Administration With Compass East
Your company can use our payroll systems integration and administration to cut costs and improve efficiency. Managing payroll can be challenging, especially when you have an extensive team that continues to grow. Between overtime, benefits and paid vacation days, payroll requires accuracy and ongoing oversight.
We’ll implement advanced payroll administrations solutions software that tracks the necessary data for payroll administration. With this system, we can track attendance, calculate paychecks, manage commissions and ensure every employee receives the paycheck they worked for.
As part of our ongoing administration and payroll reporting, our team will distribute paychecks to your workforce and withhold taxes. We can track all your unique payroll needs with our software and oversight, from vacation pay and stipends to commissions. Administration tasks include:
- Managing employee IDs.
- Organizing tax information.
- Maintaining a pay schedule.
- Implementing deductions.
- Calculating gross pay and net pay.
- Issuing payments with the appropriate pay method.
The Advantages of a Payroll Reporting Platform
With a payroll reporting platform and professional administration, your company can enjoy many advantages. Our payroll systems integration allows you to:
- Streamline your payroll: Your current bookkeeping method is likely not the most efficient way to track payroll. Our payroll reporting platform addresses the many processes of paycheck calculation, so you can reduce data entry requirements and deliver accurate payments on time.
- Improve accuracy: Payroll looks different for every company. Some employees may earn a commission, or in-house workers might receive a commuting stipend. If you fail to track these many unique requirements accurately, your employees won’t receive the compensation they worked for, decreasing morale and affecting your business at large.
- Remain compliant: Payroll practices come with various federal requirements. Our administration services will ensure employees receive the appropriate wages, overtime pay and other critical elements to maintain compliance. With our payroll integration solutions, we can keep track of all necessary data for auditing purposes.
- Secure your data: Payroll data includes a range of sensitive information, like addresses, social security numbers and bank information. Our platform will keep all data safe to protect your employees and the company.
- Expand with ease: When you run a fast-growing company, payroll needs to accommodate an expanding team. Compass East is ready to expand payroll processing as needed. We’ll ensure your employees continue to receive the right paychecks throughout transitional phases.
Payroll can feel like a small detail among your company’s many financial requirements. Even if you already have a financial team in place, the members are most likely focused on long-term projects for company-wide growth instead of payroll. Hiring a department specifically for payroll can exhaust your resources. When you outsource payroll solutions to Compass East, you can experience the many benefits of an in-house department without allocating resources to new employees.
Our payroll administration is only one of our portfolio offerings. Use this service in conjunction with payroll analysis, cash flow management and other services to make the most of your company funds.
Trust Compass East as Your Payroll Reporting Expert
At Compass East, our team of Certified Public Accountants (CPAs) and financial professionals can help you meet your fiscal goals. Our access to cloud-based technology alongside these key players ensure we offer comprehensive services for your unique needs. We focus on supporting fast-growing businesses. Our payroll solutions will help you expand with ease.
When it comes to payroll administration, a personalized approach is essential. We take the time to track every employee expense, stipend and tax requirement. While we provide ongoing oversight, your business leaders can focus on high-priority projects for long-term growth.
Accurate payroll management is vital to your success, but it doesn’t have to be an administrative burden. The experts at Compass East can provide the payroll support you need for accuracy, compliance and efficiency.