Workers work to get paid, plain and simple. But it’s a challenge to process payroll when: you don’t have enough staff, tax requirements change, you’re confused about certified payroll reporting requirements and internal information systems don’t talk to each other. As if these challenges weren’t enough, larger construction companies must deal with multi-state, multi-rate payroll, prevailing wage, fringe benefits and labor burden calculations.
The solution to payroll problems is to rely on systems that simplify the entire process.
Step 1: Improve Your Time Tracking
Payroll starts with knowing exactly how much time your workers have logged. If you’re starting step one using paper time cards, you’re already at a disadvantage. Paper time cards are inefficient, costly and prone to error. The biggest drawbacks to using paper time cards include:
- Time theft from employees padding their time sheets
- Increased errors from ineligible handwriting
- Time lost from manually transferring hours
- Compliance issues from inaccurately accounting for overtime
- Costs incurred from buying, storing and physically transferring paper
A digital time tracking solution like ExakTime eliminates all these drawbacks. Instead of using a pen and paper, workers clock in and out using an app that’s easily downloaded to any mobile device or an onsite rugged time clock. The mobile app accurately logs when, and more importantly where, workers start working and when they stop. Ditto for the time clock. There is no need for employees to remember exact time and managers are assured employees are clocking in and out themselves from the jobsite.
Once accurate work times are tracked, the data can be uploaded to ExakTime’s new partner ConstructionPayroll.com’s payroll solution.
Step 2: Simplify Your Payroll Process
Calculating payroll by hand can end up being a jumbled mess. Wages and taxes vary by worker and the state they’re located, not to mention any garnishments or benefits. Trying to keep it all straight inevitably ends up with mistakes being made. Plus if you’re using solutions that don’t talk to each other, you’re spending more time than necessary just transferring data. Better software is the solution.
ConstructionPayroll.com’s solution integrates with ExakTime so users can import time daily by employee, job and cost code. Once the data is imported, ConstructionPayroll.com takes over by automatically making the calculations that can cause the most time and compliance issues like: pay for multi-state, multi-rate and multi-class workers, federal, state and local taxes as well as labor burden, fringe benefits and workers compensation.
After calculating pay, ConstructionPayroll.com can submit payments through direct deposit, payroll cards, paper checks as well as accounting for union dues and garnishments. Once the process is over, the software’s reporting features allow users to prepare and e-file CPRs, ACA and new hire reporting.
Step 3: Contact ExakTime and ConstructionPayroll.com
Changing the way you process payroll is easy and it starts by updating your systems to ExakTime and ConstructionPayroll.com. ExakTime and ConstructionPayroll.com were both designed for the construction industry’s specific needs. These products are mobile, agile and work together seamlessly. When you integrate ExakTime with ConstructionPayroll.com, you receive a simple, efficient and easy to use full-service payroll solution that meets the complexities of construction industry payroll.