Paperless payroll is an efficient solution that reduces paper waste and saves money. NACHA – The Electronic Payment Association, estimates that each paycheck cost $8.39 when factoring in the amount of time for preparation and distribution of checks1. APS Payroll’s cloud platform makes achieving a paperless payroll process easy with advanced cloud technology and paperless pay options. Below are three steps to make your entire payroll paperless:
Paperless Payroll Step 1 – Integrated Time & Attendance and Payroll
To make the entire payroll process paperless, the first step is to use a online time and attendance solution. This will eliminate the need for paper time sheets and time cards. Instead, employees’ time cards and time-off requests are tracked and managed electronically. Even greater savings and efficiencies can be gained by using a unified or fully integrated solution for time and attendance and payroll such as APS OnLine.
Paperless Payroll Step 2 – Paperless Pay Options
Achieving a completely paperless payroll requires full participation in paperless pay options such as direct deposit or paycards. This means there are no checks to ship and sign, saving delivery costs and paper. An often overlooked benefit is the elimination of the need for check reconciliation and the potential of check fraud.
Can my company only offer paperless pay options? Currently, 28 states have statutes or regulations that permit purely electronic pay for all or some employees. View a list of PayChoice states – states permitting employers to eliminate paper checks.
Paperless Payroll Step 3 – Electronic Reports
APS Payroll’s cloud platform, APS OnLine, provides a document management solution for payroll reports, check vouchers and related tax document. Instead of receiving reams of paper reports, APS OnLine makes all reports accessible in the cloud. In addition, employees can view their check vouchers through our employee self-service site, eSELFSERVE.COM. This site allows employees the flexibility of accessing documents anytime from anywhere and printing only when necessary.
APS OnLine also enables you to eliminate paper-based processes in your HR department with features such as:
Benefits administration with online benefits enrollment
Electronically distribute communications and employee documents with document management
Process time-off requests online and with email notifications
Build reports that can be shared electronically
1 “Calculate Your Savings” Electronicpayments.org. NACHA. 2012. Web. <http://www.electronicpayments.org/>