How to Allocate Employee Costs Across Multiple Cost Centers

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How to Allocate Employee Costs Across Multiple Cost CentersThere are times when employees wear multiple hats and work for different departments or on different projects. Managing their time and expenses by hand is next to impossible, especially when you have a number of employees moving in different directions across your organization. Automatically allocate employee costs across multiple cost centers by integrating this powerful solution with your existing Microsoft Dynamics® Payroll solution.

Employee-sharing is common in many offices today. It’s not unusual to see employees working for different managers, departments, or on a variety of projects and tasks. For professional services organizations or companies in the healthcare industry, having employees work in multiple areas is a great strategy for optimizing human resources. However, that said, it also causes challenges with payroll. Calculating and allocating employee time and expenses across multiple cost centers can be time-consuming and risky. In addition, ensuring tax and benefit expenses are also allocated properly can be an even bigger nightmare. It’s simply too difficult to distribute time, tax and benefits to the various cost centers using manual means. Save time and frustration by integrating Employee Accounts and Splits with your GP Payroll system.

Simplify Complex Payroll Challenges

Employee Accounts and Splits provides your payroll team with a more efficient way to manage employee costs as they work for different departments or multiple projects. You establish how employee costs will be split, by percentage, across different departments, positions, pay codes or general ledger accounts. Once this is established, expense distributions are split accordingly, as well as tax and benefit expenses, including period-end distributions for FUTA, SUTA and Workers’ Comp expenses. Once these setup records have been created, you then assign setup codes to a single employee or across all employees that may be assigned to that split code.

Allocating employee costs manually takes time away from other important tasks, but that’s not it. Should mistakes occur, and they often do, correcting allocations and posting errors takes even more time. Correcting errors after payroll runs is also time-consuming and frustrating for both the employee and your payroll team. Add the automation you need to allocate employee costs quickly and accurately by deploying Employee Accounts and Splits. Contact Integrity Data for more information on solutions that will simplify common payroll activities and benefit programs.

By Integrity Data, a Microsoft Dynamics GP ISV out of Illinois

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