Going paperless is not only possible, but it may actually be more efficient for you. It will eliminate courier or UPS fees (assuming everyone is on direct deposit), and it can save much time and expense if you have employees who work in different locations or different cities across the country. It can also eliminate delivery delays due to inclement weather.
The heart of the paperless payroll process is doing electronic payroll entry and distribution of pay to your employees without using a paper process. If you add in time and attendance that is fully integrated with your payroll process and put in place a way to distribute pay to your employees electronically—then you are well on your way to becoming paperless.
To implement electronic distribution of payroll, use direct deposit or a payroll card to put funds into your employees’ wallet. This also eliminates the expense of distributing and mailing their checks or check stubs. You can enhance this process by adding a check view /W-2 portal that allows your employees to access, view or print their own check stubs and W-2’s. Voila! You have streamlined your paperless payroll system.
(NOTE: We will still mail the W-2’s to you—the client—so that you can distribute the first set of W-2’s to your employees.)
Precision Payroll can assist you in developing your customized paperless payroll system with the various products available in our Human Capital Management (HCM) software. All services are optional:
- Web-based payroll entry
- Fully integrated time and attendance system (I-Solved Time)
- Direct deposit/payroll cash cards
- Employee Self-Service (ESS): Check view and W-2 view.
- Integrated HR Module: To store employee papers, performance reviews, company assets per employee, and more.
- Integrated Benefits Module: Open enrollment, healthcare deductions and management of rates, including Affordable Care Act management.
Converting to a paperless payroll process will also help you eliminate manual processes, and could be the answer for your growing business. For more information, contact your payroll processor or your sales person: 877-941-1040.