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Have you considered using an accounting solution with integrated HR and Payroll capabilities, so your organization can benefit from increased efficiency and staff satisfaction?
Research from the American Payroll Association estimates that companies who have automated their payroll processes have reduced payroll costs by as much as 80%. A significant portion of the reduced costs results from fewer mistakes in invoices and checks that are issued.
Easily address the HR and payroll needs of your nonprofit organization with MIP® People, an integrated, user-friendly, cloud-based solution that handles all your organization’s HR and payroll needs.
MIP People is a scalable system that’s built into your accounting software and works with organizations of any size. You can effortlessly process payroll with rules unique to your organization and rely on automation process checklists to handle payroll and benefits for your team. You can also empower employees with our self-service Employee Web Services module that makes things like benefit selection effortless. Plus, with an integrated system, you’ll reduce the likelihood of data entry errors, and your HR and payroll information benefits.
MIP People makes your organization a people person. Let’s explore the benefits further:
HR Management: True integration between your payroll and general ledger systems provides efficiency and data integrity. Our HR Management module includes:
- Easy HR reporting
- Tax form population and e-Filing functionality
- Efficient tracking of employee data like education and certifications among others
- Audit trails of employee history
- Single entry source for key personnel information
Payroll: Payroll expenses are typically the biggest portion of any annual budget. MIP’s payroll functionality is fully integrated with HR records and ensures organizations can be more efficient, including generating fully-allocated accounting entries, using distribution codes, and performing complex wage calculations across processing groups. Organizations use MIP to help generate and file W-2 taxes forms for employees and the government based on the past year’s payroll data including key withholding amounts.
Benefits Enrollment: MIP’s Benefits Enrollment functionality allows employers to develop benefit plans with complex calculations to determine base plan rules and/or rate tables which employees can access at any time. Employees can review, update, and print benefits and deductions, and you can automatically apply benefit calculations to all employees with one click.
Employee Web Services: MIP’s Employee Web Services portal allows employees and managers to save time and reduce errors with the ability to securely enter, update, and approve employee timesheets and other records online. Employees can access and update personal information and timesheets wherever they have internet access and managers can also review and approve submissions 24/7. Empower your HR team to focus on people instead of paperwork.
Direct Deposit: Avoid the hassles associated with lost paychecks and employees who wait long periods of time before depositing their checks. Increase efficiency and make the switch to online forms and employee resources.
Why You Should Make the Switch
Automating your payroll/HR can reduce your staff’s manual workload, prevent fraud, expediently calculate all benefit deductions, ensure clearer audits, clarify reports and lead to fewer employee tax errors.
By incorporating a fund accounting solution that centralizes your employees’ salaries and benefits information in one place, your time can be better spent on boosting employee value propositions and training.
By giving employees increased access to payroll and human resources information online, you save your HR staff’s time by allowing employees to look up their own information. You also keep employees more engaged regarding their benefits and give them an easier way to track and update any benefit changes or additions.
Register now for our upcoming webinar on how to make your nonprofit accounting team more efficient with technology, automation, and workflows.
See what MIP Fund Accounting can do for you. Request a demo today.
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