Boost Your Firm’s Capabilities with Payroll Solutions
Are you overwhelmed by the administrative burden of managing HR and payroll while striving to meet client expectations? Discover how integrating payroll and accounting solutions can elevate your firm’s efficiency and offer added value to your clients!
![A women presenting how to balance books, Payroll, and HR management](https://cpa360leadership.com/wp-content/uploads/2024/07/A-women-presenting-how-to-balance-books-Payroll-and-HR-management-1.jpg)
Balancing Books, Payroll, and HR Management: Solutions for Managing Your Teams
As a CPA firm, your dedication to maintaining financial accuracy and providing sound business advice to your clients is unwavering. However, the considerable number of tasks for managing your teams can sometimes detract from your ability to focus on your clients’ needs.
In the face of these challenges, a strategic partnership with Payroll Solutions offers a pathway to ease the burden and dedicate more time to client service:
Human Capital Consulting
Manual payroll processing, reactive recruitment, and similar practices can appear routine when they’ve been the norm for a long time. Our human capital consulting sessions will provide an impartial evaluation of your HCM processes, identify potential issues, and present practical solutions.
Employer Solutions in One HCM Platform
Bring together talent acquisition, compensation & benefits, time & attendance, employee engagement, and other HR functions in a single platform to create a cohesive and efficient workflow. With one data source, end-to-end visibility, and paperless payroll capabilities, we facilitate your HR processes.
We offer a straightforward and transparent process of iSolved implementation, starting from demo sign-up and continuing even post-implementation by providing training and ongoing support. Get started by choosing from any of these employer solutions:
1. Employee Life Cycle Solutions
Manage every stage of your employees’ journey within your firm, ensuring effective HR management and organizational continuity from onboarding to offboarding:
Electronic Onboarding:
- Automated Candidate Information Import – Effortlessly import candidate data directly from the applicant tracking system, reducing manual data entry tasks.
- Centralized Document Storage – Get started quickly with our centralized onboarding portal. Access all the necessary forms and documents, from federal and state tax forms to company policies, in one convenient location.
- Customizable Onboarding Templates – You can customize onboarding templates to cater to different employee groups, creating a personalized experience for all new hires.
- Onboarding Task Management Dashboard – Monitor and manage onboarding tasks through a user-friendly dashboard accessible from any device.
Structured Offboarding Process:
- Implement a structured offboarding process to handle employee transitions, facilitate knowledge transfer, and support project turnover. This will enable the smooth departure of outgoing employees while preserving institutional knowledge.
2. Payroll Processing Software
You know how even a single misstep in your calculations can cause significant discrepancies, leading to delayed and inaccurate pay and legal consequences. Our payroll processing software is designed to identify and prevent errors before they occur, automating complex calculations, tax filings, and reporting. This connects to your timecard management system for real-time calculations of overtime hours based on your firm’s specific policies and regulations.
3. Time & Attendance Software
isolved’s time and attendance software seamlessly aligns with diverse work setups. You can easily support flexible scheduling and oversee operations across multiple work sites. The system makes it possible to:
- Track Paid Time Off: Our system offers customized PTO tracking to comply with the diverse sick leave laws across different states, ensuring accurate and compliant time off management.
- Create Custom Notifications for Prompt Timecard Resolution: Instant notifications enable immediate attention to any missed punches, punches outside geofenced areas, and timecard discrepancies or issues for swift resolution and accurate timekeeping records.
- Monitor Time Punches and Set up Geofencing: Managing time punches and ensuring accurate timekeeping can be incredibly challenging for CPA firms with staff across different states and accountants and advisors often working in the field and attending client meetings. Through geofencing, you can set up virtual boundaries around specific locations, such as client sites or office premises. This ensures that employees can only clock in or out when they are physically present within those boundaries. This helps prevent unauthorized time punches and guarantees accurate time tracking for mobile employees.
- Manage Overtime: Stay informed about overtime hours worked in real-time through customizable dashboards and reports. Monitor overtime trends, identify potential issues, and proactively address compliance concerns. You can also implement an automated workflow that simplifies the approval process. Managers can promptly review and approve overtime hours for timely payment and compliance with labor regulations.
4. Benefits Administration Dashboard
Enhance benefits onboarding efficiency with configurable plans, user-friendly enrollment, and seamless data sharing.
5. Talent Acquisition Support
Develop and nurture an engaged candidate pool while leveraging trend analysis to predict and plan for future staffing needs. For additional support, access the vast network of accounting professionals through CPA 360.
6. Learning & Development Software
Create personalized learning paths designed to help you achieve your specific training objectives. These paths can include courses, assessments, certifications, and other resources that align with employees’ professional goals.
7. Employee Engagement Platform
Create empowering experiences that build your accounting staff and other employees’ confidence in sharing, performing, and collaborating. Our scalable employee engagement platform allows you to design and implement rewards and recognition programs and facilitate goal-setting paths and 360-degree reviews.
Integration Solutions for CPA Systems
iSolved’s API integrations offer an automated data management and integration solution across your systems. This unifies your data, helping you derive valuable insights to support your workforce strategies and inform decision-making.
Our HCM platform is compatible with PracticeERP and other time clock systems, so it can seamlessly share data that can assist in improving staff forecasts and monitoring staff productivity and performance. We also provide FREE General Ledger account setups with reports and file integration options for all CPA firm partnerships.
Our iSolved API integrations extend beyond accounting and payroll management. We also support electronic files for child support through third-party vendors and the management of 401K distributions.
Synergizing Payroll and Accounting: Solutions for Your Clients
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Aligning and integrating payroll and accounting functions is essential for operational efficiency and financial precision. By offering a unified approach to accounting and payroll, you have the opportunity to provide your clients with added value. You can do this by introducing a system that consolidates data from various sources for automated processing and information management.
Diversify Firm Offerings to Match Heightened Competition
CPA firms face heightened competition in an overly saturated market. Many professional service firms, including payroll management companies, have expanded their offerings to include financial consulting, accounting, and tax planning.
Thus, the way forward for CPA firms is to expand their services and offer a comprehensive suite of business solutions. Starting from the ground up can come with challenges for which you may not have the time and resources. So, here’s our proposal: white-label Payroll Solutions’ services under your firm’s brand and offer them to your clients. We’ll be there with you and provide the needed resources, marketing collateral, and training.
Benefit from Our Partner Program
Participate in our referral partner program and unlock exclusive perks and benefits by recommending your clients to Payroll Solutions. Depending on your membership and referral tier, you can earn up to 25% of the client’s billing and even receive up to 100% complimentary payroll services from our team!
Payroll & HR Solutions Aligned with Accounting Practices
Payroll Solutions is a workforce management service provider specializing in payroll and human capital management (HCM). Founded by an accounting firm, it draws on its origins to develop workforce management strategies and payroll solutions that adhere to accounting best practices. Moreover, Payroll Solutions understands the HCM challenges faced by CPA firms, as it was established for the very purpose of providing tools and expertise to overcome them.
Specialized Plan and Exclusive Offer for CPA 360 Members & Their Clientele
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Our exclusive offer includes many exciting perks and benefits. You’ll gain access to our technology solutions, training and development resources, and special discounts on Payroll Solutions’ services.
As a CPA 360 member, you can take advantage of all these benefits and more, positioning yourself as an industry leader while offering unparalleled value to your clients. Don’t miss out on this excellent opportunity to distinguish yourself from the competition and take your services to the next level!
Contact Payroll Solutions today for a firsthand experience of how our specialized plan can elevate your services and streamline your operations!