With the ACA reporting requirements beginning for employers with more than 50 full-time equivalents, and penalties beginning for those with 100, having your employee information in line is more important than ever. However, having this information at the right time with the right accuracy is important every day—whether you have 10 employees or 1000.
Wouldn’t it be nice to save your accounting and human resources/payroll departments some time and money to manage this information?
To help organizations better understand the importance of aligning HR/Payroll and Accounting, Brittenford recently invited experts from EmployeeMax and Integrity Data to share their experiences and insights on how an organization can recognize lower costs with improved accuracy in less time each month.
This webcast, available for download here, highlighted a plethora of information on how to get started by aligning accounting and HR with Intacct, EmployeeMax, and Integrity Data.
1. Cut the Manual Processes
Did you hire a new employee? Has an employee changed locations? Likely, you’d have to make changes in accounting and payroll, taking twice the time and resulting in increased risk for errors.
Whether you are using standard dimensions or have your own custom ones, each night, EmployeeMax sends data directly to Intacct through the Intacct API, reducing the amount of time needed to add or edit employees’ records.
2. The Right Information to the Right People
Does an employee need to print a W-2? Does a different employee need to edit data?
Setting controls on who can view certain information within the payroll software and who can edit said information can ensure the privacy of each employee and customer. By limiting access to specific departments or companies (in multi-company), you are able to provide increased security while maintaining easy access for specific parties.
Further, you can see who it was that made the changes, filtered by name, IP address, or information changed.
3. Why Compliance Matters Now More than Ever
Integrity Data has been around since 1996, but became a major player by leading the market into the ACA risk management and compliance platform. With regulatory reporting intensified, the IRS will soon be cracking down on incorrect or nonexistent filing.
Being able to continually track every single hour of service, calculating monthly eligibility, cost, and affordability of coverage, and tracking ALE status alongside 1094-C and 1095-C annually; employers need to have (and provide) the right data at the right time.
By tracking the hours, and auto-generating both IRS and employee forms, employers can minimize risk for penalties due to inaccuracy or non-filing.
If you’re looking to save time, money, and reduce risk, nothing tops automatically generated, accurate information. By aligning payroll and accounting with EmployeeMax and Intacct integration, you can save time for both your accounting and HR departments.
Take this one step further by having the right information ready to report, whether that information is going to employees, the IRS or the accountant. Watch the entire webcast replayed here, and for more information, contact Brittenford using this form or emailing email@example.com.