Insightlink Home

Insightlink
Employee Surveys Blog



Administering The Payroll Process Smoothly


Posted by Insightlink on 02/03/21

One of the essential parts of any company is the people who work in it. The work team is the differentiating value of a business organization, as it has the skills and knowledge necessary for companies to meet the proposed objectives and plans. There are several factors that must be taken into account before hiring staff. One of them is payroll. In simple words, payroll is the financial record of your employee’s wages, bonuses, and deductions.

payroll

Photo by Allef Vinicius on Unsplash

The Calculation

In company accounting, payroll indicates the amount of money paid to employees for work performed for the company over a period of time. The calculation and payment of payroll are important because of the direct implications it has on the net income of the company, taxes, laws, regulations, and obligations related to it.

The Salary

In addition, the salary of the employees includes different factors that make the preparation of the payroll a unique process in the administration of a company. These are elements such as the type of contract, the payment of overtime, other salary supplements, and some type of collective agreement, among others. In that sense, it is also important to be clear about what the term salary means.

The Payroll Process

It is important to emphasize the preparation of a successful payroll process and seek help or advice in this area if it becomes overwhelming. Proper handling of employee payroll and adherence to the law is a point that large companies should not let go unnoticed.

Payroll Management

Does the payroll process seem complex? Fortunately, there are virtual financial tools that allow the correct management of payroll and simplify its execution, such as specialized 'software' or payroll consultants that meet business needs in a personalized way. This is how banking entities offer different services and standardized platforms to carry out intelligent payroll management and comply with the requirements of the IRS.

The Use of Technology

In this way, you can make payroll payments to employees through direct access from anywhere and without the risks involved in moving around the city with the cash. This achieves accuracy in payments, saves time and resources, and increases productivity. However, it is not only the payroll payment that can be executed from the tools offered by the technology but also the deduction of taxes can be done in an automated way.

Conclusion

A smart and well-organized payroll process requires analysis and good organization. Opting for technological tools that facilitate the process saves inconveniences that may arise within the complexity of the operation. These instruments make it possible to improve efficiency, profitability, and the work environment when administering the payroll of employees. If you are an organization that finds itself overwhelmed by the payroll process, it is best to seek help from Denver Payroll Services.

comments powered by Disqus



Employee engagement is linked to profits
Employee Survey Demo
Employee Survey Pricing

Where does your company stand on each of the critical "4Cs" of employee engagement and satisfaction?
  • Commitment
  • Culture
  • Communications
  • Compensation
Find out with a benchmarked and validated 4Cs Employee Survey from Insightlink. Since 2001, one of the most trusted research companies in North America.

How many of each do you have?
  • Committed Loyalists
  • Change Seekers
  • Dissatisfied Compromisers
  • Satisfied Opportunists
Only the Insightlink 4Cs Employee Survey can give you the full picture and let you hear how your employees feel about their experience at your organization.

About

Insightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.



4Cs Blog Home

Recent Posts


Human Resource Management During a Pandemic

Business Travel Tips for Frequent Corporate Travelers

Why Your Employees' Financial Problems Are Your Problems

How to Write an Inspiring Remote Team Vision Statement

Administering The Payroll Process Smoothly

Favorite Links


Employee Survey
Insightlink's Acclaimed 4Cs Employee Survey

Qualtrics
Advanced Online Survey Platform for Pros

SurveyMonkey
Quick & Easy Online Surveys

Gallup
Home of the Gallup Q12

World at Work

SHRM Blog

Engaged Employees Blog

HR ToolKit Guide to Employee Surveys
Good info on how to write surveys.

Insightlink 360
Makes 360 assessment surveys easy.

InsightExit
Online Employee Exit surveys.



HOME
ABOUT
4Cs EMPLOYEE SURVEY
CONTACT
SURVEY DEMO
SERVICES
PRICING
ROI CALCULATOR
CLIENTS
SAMPLES
ARTICLES & GUIDES
FAQs
PRESS
4CS BLOG
PRIVACY
CONFIDENTIALITY
SITEMAP
LINKS

Copyright © Insightlink Communications. All rights reserved.