How to Simplify Year End Payroll Processing and Compliance

7 Dec

Calculating Year EndAs 2011 draws to an end, companies large and small are closing out their payrolls to comply with state and federal reporting requirements. In addition, all employers are faced with the challenge of getting W-2’s to their employees.  Employers must give copies B, C, and 2 of Form W-2 to each employee and they must be received or postmarked by January 31, 2012.

Yet despite the clear advantages of HR software and automated payroll systems, many employers still rely on outdated methods of delivering W-2’s  and complying with payroll taxes and standards. The old way of doing things –  printing W-2’s  forms, addressing and stuffing them in envelopes and mailing them –  is simply unsustainable in today’s fast-paced, mobile economy.

Aside from the operational burdens associated with the old method, employers are forced to pay administration staff to complete such tasks, or worse, to pay knowledgeable and experienced HR workers to handle them, thereby pulling focus from more pressing workplace duties and responsibilities.

Some companies make pressures sealed W-2’s and checks, while others make machines that allow you to seal your checks and w-2’s, saving you the time from addressing and stuffing envelopes and avoiding the almost inevitable mix up that comes with placing one person’s W-2 in an envelope addressed to someone else.

Another solution is to take full advantage of HR technology that offers users the ability to create tax forms and file documents electronically. For a nominal fee services, such as Aatrix, allow you to have all your W-2’s filed with Federal and State, mailed to your employees, and posted online for future access.  Furthermore, reports can be automatically completed, reviewed and edited on screen, then e-filed in minutes for processing. These services ensure total compliance by including guaranteed delivery methods and eliminating filing expenses associated with printing or mailing activities.

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