Time & Attendance
By Rick Bell
Jun. 29, 2020
With the amount of paperwork a business must collect to meet its payroll compliance obligations, it is not uncommon to forget to include important documents.
Whatever the reason — even “the dog ate my payroll paperwork” excuse — will not appease the Internal Revenue Service when it comes to payroll compliance.
The IRS does not suffer fools gladly no matter if Buddy shredded payroll documents like a throw pillow or because an organization failed to properly maintain payroll and tax records.
Such sloppy payroll oversight can be extremely costly for a business, especially if federal and state tax agencies want to see records. Strict payroll compliance is arguably the simplest way to avoid fines and penalties that could cost a business a substantial amount of money.
Crumpling up paper-based payroll systems
Using a manual payroll system means that the department will be awash in paper. Paper can be crumpled up and tossed away. Paper literally gets lost in the shuffle or falls through the cracks. Ink smears when coffee is spilled on paper. The process also is a pain as it means extra time, work and effort to successfully meet compliance protocols.
Yet for some organizations, transitioning from the traditional paper-based process to an online payroll solution remains up for debate. It is hard to argue the benefits of a paper-based system when it is:
Organizations running payroll by hand should check constantly for tax rate updates. Missing one update will cause mistakes in withholdings and using incorrect totals that can result in penalties.
Follow the rules
According to Business Management Daily, employers should adhere to these guidelines every payday to avoid penalties.
A seamless payroll integration solution avoids the headaches and pitfalls associated with paper-based processes. Workforce.com’s platform is designed to keep abreast of labor-law changes and ensure that pay rates are always updated. Integrate Workforce.com’s platform with your payroll system and export workforce data, timesheets and pay rates in one click. The result is less time spent on administrative tasks and more doggone time dedicated to staff focusing on the business.
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compensation, HR technology, payroll, timesheets
HR Payroll Systems, labor compliance software, tax compliance, workforce management