Reduce payroll admin time: 5 reasons to ditch spreadsheets
Goldsmith CFO Shayne Blackwood said the productivity and cost savings with COINS has been huge.
Not only have we reduced the time spent on administration from four days a week to two, but an automated system means the payroll function can be completed remotely, rather than from the office
Shayne Blackwood, CFO, Goldsmith
In an industry that has complex employee pay entitlements, including multiple award rates, it is alarming that many construction companies are still dependent on spreadsheets for timesheet management and determining earnings.
Here are five reasons to ditch spreadsheets in favour of pre-configured software:
1. Save time – reduce unnecessary payroll queries and retrospective adjustments with the automatic calculation of individual employee pay entitlements, including real-time award interpretation.
2. Reduce risk – eliminate manual data entry and complex calculations to ensure governance control on pay entitlements and payroll obligations.
3. Simplify data processing – including time capture, pay calculations, payment and costing.
4. Data integrity - seamless integration between payroll and time capture, as well as general ledger, cash book, job costing and accounts payable invoicing.
5. Project visibility – map labour costs directly against contracts, in real-time for accurate job costing and financial management of projects.
COINS ERP+ payroll and time and attendance software provides construction companies with peace of mind that labour data is being captured accurately and employees paid accordingly, every pay run.
Director of Sales and Marketing at TimeFiler Ian Johnson says TimeFiler integrates seamlessly with COINS and is preconfigured to automatically determine individual pay entitlements, including award rates.
COINS and TimeFiler can improve productivity significantly, from eliminating the need for multiple spreadsheets, to automatic calculations, to alerts that ensure data is entered correctly, reducing payroll queries and adjustments
Ian Johnson, Director of Sales and Marketing, TimeFiler
Our system is configured specifically for the Australian construction industry and allows for multi-company, multi-frequency and multi-state payroll, and is Single Touch Payroll Phase 2 (STP2) compliant.
Read our case study on how COINS helped civil engineering company Diona reduce payroll processing time by 65 per cent and outstanding timesheets by 95 per cent with an integrated payroll and time and attendance system.
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