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- What: Physical paychecks for employees are drafted off Paylocity bank account in one lump sum
- Why: Employer doesn't have to worry about outstanding checks being withdrawn from account months down the road after check date. Clean journal entry into accounting software of one amount.
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- What: Benefits tracking application
- Why: One portal for all employee medical benefits & contribution plans like HSA, FSA. May also view dependent & family info within same application. Helps employers calculate per pay contributions based on pay frequency and inputed income as well as house enrollment in one place. Reduces room for error with employee view portal.
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- What: Paylocity will electronically sign & stuff paychecks to be delivered to employer each check date for those employees who don't have direct deposit
- Why: If cash flow is an issue -- helps employer that checks will only be debited from their account as employee's cash them not in one large amount.
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- What:Automatic deposit of employee's paycheck to their bank account. Employee's have the option to split their pay into multiple accounts.
- Why:Employer no longer has to worry about delivery of paper checks and employee's can avoid check cashing costs
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- What: 360 integration with common broker portal
- Why: Creates system of engagement for employees to easily make changes to their benefit elections. Streamlines flow of new hire data, terminations, and employee changes between WebPay and the broker portal.
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- What: mobile application for employers to view pay stubs, change employee payroll & banking information
- Why: Makes employees self sufficient to access their payroll data no matter where they are & this mobile first approach helps them adapt to new workforce
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- What: HR tracking software within Web Pay
- Why:Automates tasks like safety and certification tracking (date-triggered notifications). Ability to store any sort of employee/company documents in the cloud. Eliminate the risk of of damaged/misplaced employee forms as well as staying compliant with mandatory certifications with departments like OSHA, etc.
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- What: Employee's can upload photos of receipts and submit reimbursable & non reimbursable expense reports through mobile app or PC.
- Why: Employer's no longer have to deal with lost receipts & reimbursing expenses outside of payroll. Expenses can be submitted, approved, and paid whenever they want with real time push notifications saving them $$ on processing fees & in-house check stock.
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- What: Our GL specialists will create a custom report & if applicable format a data file to download and import into the GL of whatever financial software the client uses
- Why: Eliminates the task of double keying payroll, tax liability, and deduction totals into accounting system. Each payroll this file would download into software to keep GL clean & consistent with each check date.
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- What: Deduct any sort of garnishment (child support,bankruptcy, etc.) & electronically transfer payment to designated agency each payroll
- Why: Once employee with garnishment is hired, it is ultimately the employer's responsibility to calculate it, withhold, and release the amount. Having this process automated through payroll as well as having us build those multi-garnishment thresholds into our system takes major risk and financial liability off the employer
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- What: Human Resources support to companies. Similar to an ASO solution without the representatives coming on site.
- Why: This HR team will be able to support companies in training and consulting on best practice guidance including customized handbooks, creating job descriptions, recruiting & on boarding, performance management, disciplinary actions, EEO, FLSA, and separation or termination. Comparable to outsourcing your HR department reducing the amount of hats and time employers spend on supporting employees from hire to retire/fire.
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- What: Basic HR library with laws & topics & gives employer's option to create an employee handbook at their own pace
- Why: Gives smaller businesses opportunity to stay compliant with HR changes if they don't have a need for ASO model
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- What: Provides one central location to assign, upload, and track progress of online training.
- Why: Having a great training program in place results in employees being able to perform better and results in the whole business running more smoothly.
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- What: Once employee's are paid through our system - we automatically report them to the state as an employee of "said" company
- Why: If employer's do not report employee within 20 days - they can face financial penalties. This helps them stay compliant and uncover fraudulent unemployment & workers comp payments.
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- What: Engaging and customizable on boarding tool which walks new hires through each required step to complete employer's on boarding process/requirements.
- Why: Having an electronic onboarding solution helps create a positive and engaging experience from day 1. It provides a simple way for new hires, admins, and supervisors to complete the onboarding process plus reduces the amount of data entry. Once employee info is complete it sends right to WebPay.
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Term
| Payroll Processing & Tax Service |
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Definition
- What: Calculate and produce payroll checks each pay period, reports & files taxes when due, and prepare payroll tax reports.
- Why: Eliminates the time of calculations & takes tax liability off shoulders of business owner
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- What: Journaling & Impression Tools to develop & engage employees
- Why: Journaling provides insights into employee's personal performance and goals. Can be used as much as employer would like. It can also be used to document disciplinary action. Impressions are used as a virtual "happy" or "high five" to give positive feed back from management level or used as peer to peer recognition. This helps build up team culture and morale of employees leading to higher performance & better attitudes.
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- What: Paylocity provides step by step instructions with screenshots on how to link WebPay with their chart of accounts
- Why: Eliminates employers having to make manual entries for payroll & tax liability amounts each payroll run
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- What: Paylocity provided check stock to print checks in house
- Why: If company's pay period ran through a Friday you could process payroll with us that day & print checks on site. Also if checks delivered by Paylocity aren't correct client has option to fix the check and print immediately after.
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- What: Hundreds of pre-populated reports, custom report creator, & in depth analytics behind things like turnover, demographics, hiring trends, etc.
- Why: Gives owners the data behind employee costs, labor distribution, & different employment trends so that they can manage their staff better & control employment costs. Custom reporting tools helps create reports specific to their business.
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- What: Manage PTO balances, accrual rates, and employee time off requests.
- Why: Custom built PTO policies in our software. Automates the process of tracking the above to make sure all paid time off is accounted for, time is being accrued correctly, and doing away with manual calendars or excel spreadsheets to track days off. Employee balances are available directly on the mobile application.
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- What:We use a 3rd party provider Employers Edge to assist and represent with unemployment claims and achieve the lowest tax rate possible.
- Why:Takes the trouble of managing unemployment rates and claims off employer's plate. Unemployment is the only controllable tax and with Employer's Edge consistently evaluating their rate we help client's pay less of these taxes by reducing the rate when able to.
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- What: Paylocity has 180 & 360 integration options with hundreds of different vendors including benefits, 401K, insurance, and time solutions.
- Why: Employers are able to not worry about moving funds to benefit or 401K providers. If payroll data is fed directly to the vendor they are able to move funds & bill the client directly keeping them compliant and saving time.
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- What: tool to find, attract, and track applicants during hiring periods
- Why: Streamlines the entire process from application to hire. Tracking applicant from application to hire saves recruiters/hiring managers time, keeps everyone in organization updated on candidates status, and reduces errors. Mobile optimization of job postings allows candidates to view jobs and apply from any device giving them a positive experience even before day 1. Ability to ask knock out questions before the application can be submitted helps employers spend time on better quality candidates. Ability to auto fill application once resume has been uploaded reduces the amount of time application spends during hiring process & provides a more positive experience. Once a hire has been decided on - offer letters sent directly through our system and then can be transferred into the on boarding portal.
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- What: Time tracking software with geofencing capabilities available via computer or Paylocity mobile app.
- Why: Avoid theft of time by installing a geographical fence around clock in/out locations. Accurately track employees hours & avoid human error of paper time sheets. Sync time off requests and create schedules. Option to set up supervisor who can create custom reporting, view dashboards, and have master control of approvals, exceptions, missed punches, etc.
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- What: Paylocity will feed our 3rd party provider Smart Pay the wage information each payroll & client will be debited directly by their insurance carrier for their workers comp insurance
- Why: Frees up employer's cash flow by not having to estimate their premium & pay up front for the year or quarter. Alleviates the audit by being debited for insurance based on exact payroll information. Client's can work with their current broker do not have to use ours.
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