There is no argument that employees are one of a company’s most important resource and greatest asset. With that said, employees are often the source of a company’s greatest loss. While most employees are honest and true team players – there are those who, well, not so much. Employee theft is one of the highest risks facing business owners today – whether it be merchandise theft, being paid for hours not worked, missing office supplies, or accounts payable fraud.
We are pleased to announce an important software update that will help minimize the risks of your payroll exceeding their maximum allowed thresholds – whether entered inadvertently or entered maliciously for purposes of fraud.
Our payroll software can monitor and warn about payrolls that exceed the Maximum Hours and the Maximum Dollars. While these amounts can be overwritten, you will be made aware that there is a “higher than normal” check in your payroll records. Our hope with rolling this out is to catch a payment issue prior to it becoming a[KM1] payment issue.
After WI Pay sets the limits per your specifications, you will receive a warning when submitting your payroll. This applies to all clients who are using online payroll to calculate their payroll. If you are not using the online payroll (why not ask us about it), we can enter thresholds for you and advise you of any threshold overages.
Funny thing – employees will usually catch an underpayment but will often “miss” an overpayment. Hmmm…