Advanced technology has thankfully brought about an easier and faster way of preparing your employees’ payroll. Gone are the days when an employer or Payroll/HR personnel had to spend countless hours calculating the amount owed to each employee after taking several factors into consideration, including state laws, overtime rules, entitlements, and more.
It is now 2020, and if you’re still preparing your employees’ payroll with spreadsheet entries or calculators, then you are depriving yourself of the advantages of a quick, stress-free, accurate payroll process provided by an advanced, fully automated pay system, supported by a robust Pay Rules engine. Why struggle with manual, complex payroll calculations in 2020’s environment with complex employee standards laws when you could simply use our automated pay rules engine to do it for you?
Why you should use an automated pay rules system in 2020
Effortless, effective employee timekeeping system
For hourly workers who are paid according to the number of hours worked within the pay period, an employer can make use of an automated time tracking system to track man-hours and pay employees accordingly. Those man-hours can be calculated manually but by performing manual calculations to compute time card or time clock data, there is a great likelihood of innocent errors causing potential costly payroll mistakes which can be avoided by making use of an automated third-party pay rules engine like Pendylum’s.
Employee time data, collected by the use of s to swipe card or bio-metric data collectors to clock in and out can be transferred into the pay rules engine and all relevant rules can be automatically computed, resulting in accurate, compliant output for your payroll software to finalize for pay day.
Eliminates manual calculations
By using an automated payroll system, employers avoid the slow and cumbersome process of manually computing data. Today, industries and other organizations are expected to carry out their activities more efficiently since the business environment is highly competitive in 2020. The use of a computerized payroll system assisted by our pay rules engine helps to reduce errors and make complex calculations easy to process.
Useful tool for accurate record-keeping
According to the United States Department of Labor, employees payroll records are to be kept for three years while the tax records of employees are to be kept for a minimum period of four years. Storing and searching through reams of payroll data is cumbersome and time consuming. The use of a fully automated end to end payroll solution helps you to store employment data and other payroll records electronically, in an easy to access format.
Automated payroll software helps to carry out deductions and other payment calculations
The use of automated payroll software provides accurate payroll calculations. However, the accuracy of the calculations is highly dependent on the accuracy of the input variables. Pendylum’s Pay Rules engine applies all types of rules to accurately calculate your payment calculations, including overtime (i.e. state/provincial and federal legislation, CBA/union rules, company policies), shift premiums, statutory holiday pay, bonuses, commissions, automated step-increase pay raises, and more.