Payroll Errors and how to Avoid ThemSynerion Workforce Management Solutions

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What is Payroll?

• In most general terms payroll refers to the amount paid

to an employee in a particular pay period for their given

service to the employer

• The primary tasks of the payroll department in a given

organization is to ensure that the company’s

employees are paid the correct amount based on their

wage, hours worked and deductions

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Determining Payroll

• In an ideal world determining payroll for an employee would involve simply

taking the number of hours worked in a particular pay period and multiply it

by the employee’s hourly wage

• However the real world is much more complicated

• Organizations must take into account:

• Sick days

• Vacation days

• Provincial/State taxes

• Federal taxes

• Benefits

• Retirement Plans

• Unemployment Insurance

• Etc

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Impacts of Determining Payroll Incorrectly

• Statistics have shown that nearly 33% of employers have made

significant payroll errors

• There are a variety of impacts this has on the organization and

its employees such as:

• Possible legal conflicts

• Decreased morale

• Lower workforce productivity

• Higher levels of attrition

• Etc

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The Solution to Avoiding Payroll Errors

• An automated time and attendance solution is a great

way to ensure that your organization’s payroll is 100%

accurate and complies with all labor and governmental

regulations

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What is an Automated Time and Attendance Solution and How can it help

• An automated time and attendance solution uses

hardware and software to accurately calculate payroll • Employees punch in to work using a time clock and

punch out when they are leaving • The time clock is connected to software which stores the

days and hours worked and other employee information • At the end of a pay period the system automatically

calculates the appropriate amount to pay each employee including all applicable deductions (taxes, insurance, etc)

For more information on workforce management solutions visit: http://www.synerionwfm.com/