Many of you are probably wondering why I am so insistent about archiving timesheet hours or, as we call it, Closing Payroll. You’re wondering if I’m trying to sell you something. I am most definitely NOT. We don’t believe in pushing extra features. If you need them you need them, if you don’t you don’t. That said, Closing Payroll isn’t even an extra feature – it’s a report, and you can run all the reports you want, free.
I’m a stickler for closing payroll because my job is to make your life easier. With every phone call, every training video, and every blog post I make, my goal is to help you succeed in keeping track of your employee’s time and expenses in the easiest possible fashion.
Now that I’ve got that out of my system, allow me to outline the 5 most important benefits (and a little about the process) of closing payroll.
- A Report to Pay Your Employees With – If you are manually adding up your employee’s hours at the end of each pay period, you are wasting precious time. When you use our Close Payroll function, (the Close Payroll button is located in the Hourly Menu) the system adds up the hours for a specific date range and generates a report which can then be viewed printed, emailed to your payroll processor, or even downloaded into Excel or QuickBooks.
- Email It Straight To Your Payroll Processor – You won’t have to call in the hours anymore if you set up your payroll processor’s email address. (Add email addresses in the Setup Wizard -> Data Export tab.) After the report is run, click the email icon on the Payroll Reports Page.
- Minimize Mistakes – Not only does the report save you time but it thoroughly eliminates calculation errors. The report adds up the hours and calculates employee’s gross pay based on their default pay rate. (Add a pay rate on the employee’s Settings page.)
- Fresh and Current Employee Timesheets – It may seem trivial to you but employees really like to know where they stand for the week. They don’t want to have to add up all the hours since the last time they were paid any more than you do. Not only does closing out payroll keep your employees happy, but it also helps them to take the timeclock process more seriously. If employee’s get the idea that their boss isn’t even using the system, they might not try so hard to remember to clock out at the end of each day. Essentially, evidence of usage can actually help to keep data entry accurate.
- Archive Salaried Hours Too – Salaried employees want to see their current pay period reflected on their timesheets as well. (This is done by clicking the Salaried tab on the Close Payroll page.)