Our recent webinar, "Mastering Complex Payroll: From State Taxes to Shift Differentials," was an educational session led by Jerika Holton, Payroll Product Marketing Manager at Greenshades. Attendees learned practical tips and strategies for managing payroll complexities, ensuring businesses remain compliant and efficient.
Download our comprehensive ebook, packed with all the valuable tips and tricks from this webinar. From multi-state taxation to employee expense tracking, this guide is your essential resource for tackling your biggest payroll hurdles.
Watch the full replay of the webinar here:
We started with multi-state taxation, a common challenge for businesses with employees working in multiple jurisdictions. Accurate tax calculation and reporting are crucial.
Attendees learned to:
Greenshades simplifies multi-state taxation by using provided work locations to determine taxation, accommodating multiple work locations within the same workweek.
Next, we covered job costing, essential for allocating labor costs to specific projects, tracking hours, expenses, and ensuring accurate billing and budgeting.
Key takeaways included:
Greenshades allows for custom field setup, accurate tracking during payroll processing, and detailed breakdowns after payroll processing.
Handling different types of compensation, such as hourly wages, salaries, commissions, bonuses, and overtime, requires a flexible payroll system.
We discussed:
We then explored shift differentials, where different rates are paid for work shifts that may be overnight, on the weekends, or that lands on a holiday.
Key points included:
Greenshades supports accurate shift differential setup in payroll settings and timesheets.
Compliance with legal requirements for wage garnishments like child support and tax levies is critical.
Attendees learned to:
Greenshades' detailed setup ensures automatic application of unlimited garnishments during payroll processing for compliance.
Administering voluntary deductions such as retirement contributions and health insurance requires careful management.
We covered:
Greenshades simplifies setting up deduction codes and scheduling them accurately for employees.
Supporting different pay frequencies within the same organization ensures timely and accurate payments.
Tips included:
Greenshades provides flexible pay schedule setups, allowing support for various pay frequencies and off-cycle pay runs.
Calculating and processing retroactive pay for pay rate changes, bonuses, or corrections to previous payroll periods is essential for maintaining accuracy.
Key tips:
Greenshades supports adjustments to previous pay runs and provides detailed adjustment suggestions.
Administering complex benefits programs, including health insurance, retirement plans, and performance-based incentives, can be streamlined with integrated payroll software.
Key points:
Greenshades integrates with benefit platforms to ensure compliance and manage time-off accruals with automatic adjustments.
Integrating payroll with expense management systems ensures accurate and timely reimbursement of employee expenses.
We discussed:
To wrap up, we emphasized that managing payroll with compliance and automation doesn't mean sacrificing accuracy. Greenshades offers tools for automating complex calculations, configuring systems to suit organizational needs, and scaling payroll solutions as businesses grow.
Key takeaways:
Want to keep track of these helpful tips on how to handle complex payroll processing? Download our E-book to learn how to tackle your complex payroll needs. Contact us today to learn how Greenshades can help automate complex payroll processing.