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You will no doubt be surprised to learn that the step that all companies must perform, file maintenance, is responsible for no less than 83% of the overall cost of running the payroll.
14% to creating and managing employee files
69% to compiling payroll data (hours worked, benefits, vacation, etc.)
8% to pay calculations, issuing cheques, transferring direct deposits and government remittances
9% to end-of-period tasks and producing T4s and RL-1s
The actual payroll preparation process only constitutes 17%. That 17% is where using Acomba Payroll will allow you to profit.
Each operation performed by a payroll service costs money depending on the complexity of the task, number of pay periods or the number of employees. This represents a major and recurrent investment.
Typically, you have to pay:
In comparison, the purchase of the Acomba Payroll Solution costs about the same regardless of the number of employees. The only variable is the cost of supplies. The following table shows cumulative cost of hiring a payroll service versus managing the process internally.
*Acomba payroll software must be used.
Acomba Payroll reduces payroll-related expenses by eliminating hidden costs and the need for an outside service.
Managing the entire payroll process internally adds flexibility to your operations. You can correct information at the last minute without incurring additional fees, slowing down production to add a new employee or access reports and payroll archives.
It's also easier to respond to your employees' questions, which also facilitates your pre-audit preparations.
Integrating applications allows you to save time on data entry and processing, which increases productivity. In addition, contrary to external solutions, managing the payroll internally requires no additional investment when employee numbers increase.Adaptability
Your accounting system, including the payroll processing software, adapts as your company grows supporting efficient management of employee relation standards.Interaction with MyPaycheque.net
Using the information compiled in Acomba Payroll, MyPaycheque.net offers you to transmit paycheque stubs to your employees by E-mail. Hence all that precious time wasted every period handing the documents hand to hand is available for productive use again.
MyPaycheque.net also includes a corporate library where you can store administrative documents or forms for your employees to download.
Managing the payroll internally allows you to centralize production operations for your branches and travelling employees, which produces economies of scale.
In addition, you have all the information needed to get an accurate picture of your company's financial situation as you control access to all your data.
Data are available for all modules of your accounting system. This integration eliminates double data entry and reduces the risk of errors due to manual operations.Process control
You have complete control over your data, which reduces the risk of compromise and there's no extra charge for high-volume tasks.
also Available in cloud mode