A cloud-based payroll service can greatly reduce your costs by helping you avoid unnecessary penalties by staying in front of ever-changing regulatory requirements.
Payroll Reporting is one of the major benefits of an automated payroll process. Automated reports can quickly provide analysis of the data and organize the information into required formats meeting government regulations.
As the National Payroll Reporting Consortium (NPRC) states “Federal, state and local agencies have developed a wide variety of reporting rules, formats and media over time. This diversity alone poses significant challenges for the Industry. Here are a few examples:
- Mandatory use of specific reporting media, such as electronic filing or payments, may apply to either payroll service organizations, or to large employers.
- Some states ask that particular technologies be employed, which may have been designed for individual employers, or are otherwise inappropriate for bulk filings.
- The Industry has difficulties with unique client authorization requirements, such as state-specific Powers of Attorney, notarization, or additional registration requirements such as supplemental authorization forms to report using an electronic technology.”