What is Microsoft Dynamics 365 Business Central?
Microsoft Dynamics Great Plains has a long history as a major player in the ERP space for consumers. Great Plains operates as a traditional on-premise solution, and although it has some cloud functionality it functions best as an on-premise solution. If you are looking for a more modern technology solution for your business, then Microsoft Dynamics 365 Business Central may be the option for you.
Microsoft Dynamics 365 Business Central combines CRM and ERP into one cloud-based system to automate and coordinate your sales, marketing, service, finance, commerce, and supply chain operations. Microsoft Dynamics is a robust system that supports integrations with other software providers to support your business operations, one of the integrations being payroll and HR software.
What is Payroll and HR software?
Payroll and HR software provides an all-in-one solution including features to handle your payroll, HR, benefits, time and attendance, and tax and compliance needs. Integrating payroll and HR software into your Microsoft Dynamics 365 Business Central software can streamline the time-consuming and complex needs of your finance and human resources team.
Payroll software calculates employees’ pay based on their hours worked, the wage they are paid, and the deductions that are made. Tax regulations, labor laws, and state and local regulations make payroll complex to process. Instead of spending hours running payroll manually, you can run payroll in a matter of minutes by using integrated payroll software.
HR software is typically housed in the cloud and is used to streamline the core functions of the human resource department. These core functions include but are not limited to; employee self-service, onboarding, certification management, documentation and reporting, performance management, applicant tracking and recruiting, and learning management. HR software helps the department to streamline activities into a centralized platform, saving time and reducing the need for paper and spreadsheets.
Allow employees access to key HR functions to help delegate administration functions for your HR team while engaging employees, even in a remote setting. Employee self-service can be accessed from an employee’s personal computer or mobile device. Employees can update personal information, view pay history, submit requests for time off, self-enroll in benefits, and track their performance. Notifications and direct messages can help managers engage their employees from any setting.
Benefits administration software saves time for HR managers by automating the process of enrolling in and managing employee benefits while maintaining compliance throughout. Benefits can be difficult to navigate for employees; benefits management software provides information so employees can better understand what plans they are eligible for. Employers can allow employees to self-enroll in benefits. Alerts and notifications work to remind employees of important deadlines pertaining to open enrollment and to give managers a hands-off approach to the enrollment process.
Time and Attendance
Tracking employee hours worked and time off has never been easier with time and attendance software. Timekeeping can be complex depending on your business, you may have employees working overnight, working across state lines, overtime hours, or even working on-site. Time and attendance can automatically calculate these hours for you. Leveraging the integration with your payroll software allows information to flow from the timesheet to your pay run.
Tax and Compliance
One of the most complex and time-consuming tasks is the pay-run. Running your payroll through a payroll and HR provider helps you to navigate complex tax regulations, minimum wage compliance, overtime compliance, IRS compliance, and more. A provider will also maintain compliance through ACA provisions and year-end forms. Manually completing payroll and HR tasks makes you vulnerable to errors; these risks can be reduced by using a payroll and HR provider.
Why integrate payroll and HR with Microsoft Dynamics 365 BC?
Microsoft Dynamics offers countless features to improve operational efficiency for your organization. However, labor is the largest expense for organizations, and Microsoft Dynamics 365 BC does not have a payroll solution. Thanks to the integration capabilities of Microsoft Dynamics, you can use a payroll and HR provider, such as Greenshades through a simple general ledger integration. Adding an integrated payroll solution can efficiently support your payroll and human resource operations.
- Ensure your employees are paid correctly. Payroll is made easy by automatically calculating complex payroll taxes and other deductions.
- Streamline your human resource functions for your human resource team, and keep employees engaged using employee self-service.
- Benefits management is made easy for employees using self-enrollment tools and access to essential information regarding eligibility, reducing the need for support from your human resource team.
- Navigate complex laws and regulations surrounding payroll and HR. You can ensure accuracy to avoid fees and ensure tax filings and year-end forms meet important deadlines.
- Track time using time and attendance, robust timesheets and a variety of ways for employees to clock in and out gives managers a hands-off approach to timekeeping.
Payroll and HR software can help your organization save time and money with automated compliance point checkpoints at pre and post-pay runs. Microsoft Dynamics takes care of most of your operations, integrating with a payroll and HR provider can take care of your payroll and HR operations.
Microsoft Dynamics already works to increase productivity for your operations, why not increase productivity for your payroll and HR operations? If you are thinking about moving off of Great Plains to Microsoft Dynamics, or currently using Microsoft Dynamics, it will be to your benefit to also move your payroll and HR functions to the cloud along with the rest of your operations.
Microsoft Dynamics 365 is a powerful tool to help you run most of your business operations but to help run your payroll and HR operations integrating with a provider can be very beneficial.