Tips For Handling Your Payroll For Multiple Companies!

Managing payroll seems fairly simple when a business starts up, but once a company grows and must manage the payroll for multiple locations, things become exponentially more complex.

There are several locations, employee types, departments, and more that must be managed and maintained.

And then there is the method of distributing pay to employees at all locations.

Payroll software can help you manage this process and make multiple company payrolls run like a top.

Consider these tips for handling payroll for multiple companies.

Track employee locations

Set up your payroll software system to track employee locations by profit centres, departments, companies, or a combination of these.

Then when it's time to run payroll reports, you can filter out the area(s) you have tracked.

For example, you could see the pay by the department in one location, or your payroll costs by profit centre, etc.

This is also helpful for check printing since you can print all your paychecks and sort by department and employee, or print paychecks for employees by the company they work in, which makes distribution much simpler.

Run your payroll for various departments under one company

If you are a single employer with multiple locations and want to run payroll for each location, setting them up as companies under one employer or by the department can be extremely useful.

This allows you to post the payroll data to the appropriate account, so you can keep track of expenses by location, and more.

For instance, departments could be used across companies, so you could have an "office" department that could be used by all companies.

Then when you process payroll, you can filter out and pay all office departments from all companies and pay them in the same pay run.

Pay employees via direct deposit

By setting up your employees to be paid via direct deposit, you eliminate the worry of having to mail or deliver paychecks to multiple locations.

Pay is simply deposited into employee accounts on payday, and they receive a direct deposit pay advice, which is a sheet of paper representing their pay stub.

Make things even more efficient by offering your employees the option of receiving and accessing pay advised electronically.
Take the time to learn more about what your payroll software has to offer, and you may just find ways to make your job of running payroll for multiple companies a simpler and faster process.

Contact Transines Solutions to get the best solutions for your benefits.
Tips For Handling Your Payroll For Multiple Companies! Tips For Handling Your Payroll For Multiple Companies! Reviewed by Hredanth.k on March 31, 2018 Rating: 5

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