Hard copies of documents can be easily lost. Paper pay stubs also present a security risk. Keeping all of the employee information arranged in chronological order places a massive burden on the payroll department, and takes up precious time that could be allocated better elsewhere. In order to keep the payroll information organized, the team must keep stacks of organized folders containing pay statements and tax forms. Managing paper pay stubs also presents an obstacle for the payroll team. When you factor in the costs of paper, ink, envelopes, and stamps, it’s clear that expenses add up over the year. Not only does this time-consuming process waste precious man-hours, but it also has additional costs as well. Recommended reading: Ascertain The Right Payroll Period For Your Employees Paper pay stubs need to be printed out at the end of every pay period and then manually distributed (or mailed) to employees! If your organization is still providing your employees with paper pay stubs then you’re missing out on all the benefits of paperless payroll software. Using cloud payroll services, the time required to issue paychecks and pay stubs (even with the addition of new employees) is negligible.
#Paperless employee pay stub software#
Integrated and comprehensive payroll software offers a much better solution for these small businesses, allowing them to grow freely without being held back by an abundance of paperwork. This ends up costing them more money in the long run because these inefficient processes take longer to finish, resulting in more payable hours owed to the department in charge of payroll. Unfortunately, this often results in a maze of spreadsheets, hard documents, various online tools, and more every pay period. While soft copies don’t cost anything to create and distribute, the cost of printing, organizing, and distributing hard copies can quickly add up!īusinesses with a limited amount of resources often process their payrolls manually. Soft copies are usually sent through email, or viewable via an online portal. Pay stubs can be issued in paper form, or a soft copy may be issued instead. Depending on the pay schedule, these can be issued monthly, bi-weekly, or even weekly.
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