How to Simplify Payroll for Accounting Practices
Accountants manage all aspects of their client businesses, but one of the most challenging aspects is client payroll. With regulations and compliance changes each year, ensuring accurate payroll gets more complicated and the risk of fines or penalties increases. How can accountants easily manage client payroll and reduce risk? The easy answer to that question is: Technology.
Payroll technology has improved and enhanced Accounting practices over the last several years. Using a payroll platform to manage client payroll ensures accuracy, compliance with regulation changes, and provides customised reporting to monitor and spot trends. Technology also allows clients to provide employee self-service portals, so the employees can access payslips, make bank or personal changes, and guarantee accuracy. Manual entry errors account for a large percentage of payroll inaccuracies, so allowing employees to manage their own details is a great way to ensure payroll is correct each month.
Technology also provides tracking for Accountants to maintain records for each client. Customised reporting allows you to develop reports for each client that gives them the overview they need for their payroll management. Payroll and HR technology can be integrated, so you can also provide your clients with technology options and solutions that give them a holistic approach to managing employee data. Since payroll and HR both use the same employee data, it can give your clients a more efficient way to maintain compliance and data security for their employees as well.
Accounting practices that are struggling with client payroll can make a huge impact for their clients and their own workload by using payroll technology to manage client payroll. Easy-to-use platforms, customised reporting, and CIPP-certified payroll teams help you ensure compliance for your client payroll, provide you with solutions to help manage your clients more efficiently, and give you options to help your clients manage data security and compliance regulations.
If you need help with client payroll, talk to us – our payroll and HR technology is easy to use, provides customised reporting, and a CIPP-certified staff who is available to help when questions come up. Click here to learn more about our payroll and HR solutions for Accountants