Payroll Reporting: A Data-Driven Approach to Employee Management
Modern technology and software have made payroll reporting and data gathering more accurate and time-efficient. Payroll reports are vital to a business. Employers can use them to calculate employee wages, deductions, taxes, and benefits while also using them for business audits, tax preparation of government forms, and workers’ compensation claims.
Custom payroll reporting options allow employers to get more out of their payroll software and easily keep up with increasing government regulations. Payroll reports and data will also provide a data-driven approach to employee management that will benefit your business, such as valuable workforce insights that help employers understand and control labor costs.
If you need a reliable and intuitive payroll reporting and processing software, contact Employer Support Services. Our advanced payroll technology has helped businesses process payroll quicker and save business owners time and money. Contact us today at 225-364-3000 for online payroll services that guarantee accuracy and efficiency.
[Related: Benefits of Integrating Payroll And HR]
How Payroll Data and Reporting Benefits Your Business
As a refresher, payroll reports include detailed information about an employee, department, or team, such as pay rates, overtime, paid taxes, paid time-off, and more. Payroll reporting will help streamline your process by efficiently organizing and managing your employees’ history and payroll data to accomplish essential business operations.
With precise payroll reporting and various payroll data, you can:
- Accurately manage taxes.
- Automate time clocks for hourly employees.
- Inspect hours worked, overtime hours, attendance, tardiness, etc.
- Log valuable employee milestones, such as birthdays and anniversaries.
- Maintain your cash flow.
- Properly classify employees.
- Submit accurate paychecks on time.
- Track employee turnover rates.
- Update your onboarding and training processes.
- And more.
With accurate and detailed payroll reporting, you will never miss a pay period, tax deadline, or your employees’ birthday again. Employer Support Services offers dozens of specific and thorough reports and multiple report-writing options to meet the needs of various customer types. Contact us today to learn how to automate and streamline your payroll process.
Top Payroll Reports Your Business Should Be Using
Regardless of your industry, the internal structure of your company, or the type of workers you employ, there are several payroll reports you should use. Here are six of the top payroll reports your business should be using:
- Employee Census Reports
Quickly view staff information at a glance. Learn birthdays, hire dates, or filter by employee type. Customized employee census payroll reports allow employers to get a well-rounded view of staff demographics in moments.
- Payroll Detail Reports
View payroll breakdown by pay codes and pre-and post-tax deductions by payroll or dynamic date range. Employers should use this payroll report to reconcile payroll charges to financial statements and evaluate if inactive employees have been paid due to an error.
- Tax Reports
This payroll report quickly and accurately determines employer and employee tax liability by payroll, which helps calculate how much to withhold from your employee’s federal income tax to send to federal, state, and local tax authorities quarterly.
- PTO Reports
Effortlessly audit how much paid time-off employees have taken and are available.
- Cash Requirements Reports
Determine total cash requirements per payroll, including gross wages, employer benefits, and tax contributions for accurate operational costs.
- Retirement Reports
Easily customize retirement contribution reports based on the plan administrator’s needs.
Get Accurate Payroll Reporting with ESS
Advanced and exact payroll reporting is essential for your business. Contact ESS when you need software that can provide accurate and custom payroll reporting. Call us at 225-364-3000 today to learn more about payroll processing software that can greatly benefit your business.