BOOKKEEPING

Power Up the Payroll Process

Paymaxx's on-line payroll service, PowerPayroll, streamlines the payroll process for small-business owners.
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Lauded by Inc editors for being a pioneer of Internet-based payroll systems, Paymaxx helps take the pain out of a time-consuming administrative task -- payroll. Paymaxx's service, PowerPayroll, won a 2002 Inc Web Award for its killer application that streamlines the payroll process.

PowerPayroll could be called Paymaxx's version of Payroll for Dummies. No more state, federal, and local taxes to contend with, time and attendance records to keep track of, or year-end W-2 forms to produce. PowerPayroll takes care of all of it, eliminating the payroll drudgery for employers and employees. As PowerPayroll sales manager Lucas Tennant puts it: "You can in do payroll in 12 mouse clicks."

To use PowerPayroll, employers open an account, receive training, and then they're up and running. Enter some employee information onto the secure site and the system does the rest, including printing the checks if an owner chooses. Paymaxx can also keep track of a business's accounts and will store check registers so the company owner can go back and see who was paid on a certain date.

Besides simplifying the payroll process, employees can use the service to track their own pay information. Employees can log onto a feature called PayView and pull up old pay stubs or W-2 forms for their records without burdening the payroll manager. Also, they can change personal information, such as their addresses, on the system. PayView, says Tennant, is PowerPayroll's most popular feature. When he demonstrates PayView's capability to potential customers, "people go 'wow," he adds.

If an owner needs a little organization in his or her life, PowerPayroll can provide that, too. Business owners can set reminders to alert them when payday is approaching or when its time to start figuring out their taxes.

Currently, PowerPayroll works with Internet Explorer and Netscape Communicator on PCs, but the company is working on the fifth version of the program, which Tennant says will be compatible with all operating systems and browsers.

PowerPayroll Stand-Out Features

It's Payday
On the Payday page, business owners plug in the pay period end date and the date the paychecks are to be issued. The owner sets a limit for how much money can be paid out. The limit can be changed seven days prior to payday.

Express Pay and Standard Payare usually used for salaried employees whose pay doesn't change from pay period to pay period, said Tennant. Custom pay can be used to pay hourly employees whose hours may change each week.

Employees can log in with their own, secure passwords and view old pay stubs and W-2 forms with PayView, saving the Payroll department and the employee precious time and energy from digging through file cabinets.

Employers can view their employees' vacation, sick and personal time. The program allows the employer to change the amount of time an employee has accrued and add a comment explaining the adjustment.

Last updated: Nov 21, 2002




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