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A Guide to the Modern Payroll System

A good payroll system is comprised of many components, but at its core, what is payroll? Here’s what to look for in a modern payroll system.

Keep Up With Legislation and Loose Ends

  • The Fair Labor Standards Act (FLSA) requires you to keep all records that explain the reasoning for paying different wages to employees of opposite sexes at the same company for two years. You need to keep any employee benefit plan or any documented seniority or merit system for at least one year to be compliant with the Age Discrimination in Employment Act. You’re required to keep all records of an employee’s pay history for at least three years.

What is Payroll in Regards to Your People?

First, identify which type of workers you employ, or how many of each. There are four main categories:

  • Full-time

  • Part-time

  • Temporary

  • Seasonal

Pay Schedules

Next, look into which pay schedule works best for your employees. Will you pay weekly, bi-weekly, monthly, semi-monthly, or monthly?

  • Weekly pay schedules are common in many organizations and work best for companies who pay hourly wages. They pick a standard weekday, such as Friday to disburse paychecks. Although weekly pay is convenient for employees, it’s the most work for administrative professionals.

  • Bi-weekly pay schedules are the most popular for large and small organizations. Employees receive paychecks on the same day every other week. Employees always know when they get paid so they can budget for expenses easily with this schedule. It’s also less work for payroll staff as it doesn’t require them to run payroll every single week.

  • Semi-monthly pay schedules distribute paychecks twice a month. Dates usually fall on the beginning, middle, or end of the month, including the 1st, 15th, and 31st. With this schedule, payday can vary from month to month, which means sometimes it will fall on a weekend or holiday. However, many other systems run on a monthly basis, such as benefits packages (typically).

  • If payroll is linked directly to employees’ benefits packages, semi-monthly paychecks will make the two easy to sync.

  • Monthly pay is the least time-intensive for HR staff, but also the least popular among employees. It works best in industries in which the income is irregular, making it difficult to pay employees more frequently. Paychecks are received once a month on a specific, recurring date, e.g. the 20th of every month.

A Modern Workforce

What is payroll beyond just payday? It turns out, there’s more to payroll than just receiving paychecks. HR leaders typically utilize HR software to help streamline the payroll process. A modern payroll system should be simple, easy to use, mobile, accessible, and transparent.

Customer Service

Regardless of how simple your payroll product can be, HR issues are complex. Look for a product that offers customer support by phone, email, and live chat, so you’ll always have the help you need.

Reporting

A good business intelligence feature can give you crucial insight into your workforce. Track compensation and pay changes by team, department, and location. Run custom salary reports by gender, race, and age to help support your diversity and inclusion efforts.

Compliance

Look for a payroll system that automates the hard stuff and makes you feel confident that you are adhering to the latest tax and labor laws as well as state and local legislation.

Services
  • Pay Mater Services 

  • Payroll

  • Advisory

  • Consulting

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Continuous Calculation

Net pay is automatically updated whenever a time, benefits or HR record is changed, keeping your data up-to-date.

Unified Pay And Time

CHEKMATE combines payroll software and time tracking data so we can access and work on payroll data any time during the pay period.

Compliance Supported

Our experts monitor the laws that impact our applications and supported changes are included features in CHEKMATE to help address complex payroll and tax rules.

Payroll Features

Whether it’s a standard, one-time, or on-demand payment, add flexibility to how you pay your people while minimizing the impact on your payroll team and cash flow.

Tax management

Automatically calculate, withhold, and file supported taxes, including multi-jurisdictional taxes to simplify the effort

with managing taxes.

Employee self service

Employees can view and manage their personal data, including pay and tax information, on their own time,

without relying on HR.

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Simple reporting

Get access to the necessary reports to reconcile payroll.

A catalog of reports is available within the payroll

screen at any time.

Quick data entry

Empower administrators to make adjustments on the fly

for things like bonuses, retroactive payments,

and one-time deductions.

Verification services

Access the relevant forms needed to properly identify and

pay employees directly within

the application.

Executive dashboards

Arm your leadership with valuable payroll insights. Get the data you need

to make more informed and better

business decisions.

Mobile access

Employees can access their pay information from their mobile device

at any time to preview their earnings

after each pay.

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