Serenic HCM Payroll
Payroll is a critical component of every business – and often one of the most complex. Companies need payroll software that offers ease of use, accuracy and full integration with business management systems. A powerful, integrated payroll software solution can improve labor productivity and labor efficiencies, as well as help control labor related costs – all of which directly contribute to your bottom line.
Serenic Human Capital Management (HCM) Payroll is a flexible, in-house solution designed to meet the individual needs of industries – including manufacturing, wholesale/retail, trade, services, distribution, construction, and nonprofit organizations to name a few. A flexible system allowing for in-depth data analysis, HCM Payroll utilizes Microsoft NAV’s database for processing large numbers of employees – adding up to a powerful HCM offering for Enterprise Resource Management (ERM). Track payroll information against jobs, define unique pay cycles, track and calculate commissions and more.
In the past, common thought held that outsourcing of payroll was a great time and money saver, but more and more organizations are finding that in-house payroll is a better choice. During payroll processing, for example, an internal staff performs the bulk of the work whether a company outsources the calculations or not. Source data input is the most time-consuming task during payroll runs, while the time a payroll vendor spends on calculations is minor in comparison.
Using Serenic HCM Payroll, data entry and calculations are completed by your in-house staff, lowering the overall cost per transaction and saving the minimum or basic vendor processing fees. In addition, the ability to post, store and report upon detailed ledger entries per employee and/or departments saves the incredible amount of time and money required to obtain similar “ad-hoc” or “one-off” reports from outsourced providers.
Payroll Available Functionality and Benefits
Designed to accommodate any unique payroll situation, Serenic HCM Payroll provides these valuable benefits:
- Keep all information for more than one employer within the same company.
- Flexible reporting options allow access to information for each separate employer or all employers together.
- Earnings for an employee working for more than one employer can be treated separately or combined. If treated separately, then multiple W-2s or T-4s will be printed for the employee.
- Specific rates can be assigned at the employer level.
Easily access all Employee information from one user-friendly screen.
- Any business rule that can be mathematically or logically defined can be set up in a payroll calculation, including complicated combinations for shift differentials, piece rates, work type differentials, etc.
- Calculation “trace” functionality for following step-by-step methods allows you to troubleshoot new calculations.
Post Liabilities to Accounts Payable
- Define specific vendors for each tax, benefit, garnishment or other employer or employee payroll expense.
- Automatically create summarized purchase invoices for each vendor, by specified date periods, to segregate accounting duties appropriately.
- Print detailed “liability to AP” reports with user-defined descriptions for each employee for garnishment authority and benefit provider reporting.
Post Labor Burden
- Post employer-paid expenses directly to “jobs” and/or “dimensions” through this periodic activity.
“Without Serenic Payroll, it would be nearly impossible – and cost-prohibitive – to pay weekly. Since Serenic HCM is infinitely scalable, it’s not a big deal – just a push of a button and very little effort to pay weekly versus every other week. We can break out payroll by dimensions, showing direct and indirect labor costs that payroll and management departments want to see. Before Serenic, we had to enter our 401k matching amounts, which took weeks. Now we can pull the same information in minutes.”
Rick Drass, Vice President of Information Technology,
Tervis Tumbler, Serenic HCM Payroll customer
- Update employee-specific pay or benefit rates by a percentage adjustment, an amount adjustment or a specific value.
- Attach specific groups of payroll controls to one or more employees in a single step.
- Automatically post liabilities and expenses to specific closing dates before or after the actual payroll posting date.
- Define unlimited bank accounts (savings or checking) per employee with amounts determined by dollar or percentage of net pay.
- Produce a user-defined export report to meet individual bank requirements.
New Employee Setup Wizard
- Easily set up new employees by following a step-by-step setup wizard.
- Define which fields are required, ensuring that each record has all necessary information.
Employee Validate Function
- Easily determine any missing details of the employee set up to ensure the system properly calculates employee taxes, benefits, garnishments, etc.
- Enter employees’ hourly time manually or import via Dynamics NAV XML port directly from a timeclock or time entering system.
- Interfaces directly with jobs, dimensions and resources.
Payroll Outsourcing vs. In-House Worksheet
For more information about whether Serenic HCM Payroll or outsourcing is the right solution, download Serenic’s whitepaper and complete “The true cost of payroll outsourcing” worksheet to calculate the true cost of an outsourced payroll solution.
“Outsourcing certainly has its benefits, but before you decide to hand off your payroll hassles to an outsourced solution provider, stop and consider not only your company’s needs, but also the potential pay-per-view costs you might encounter along the way. Which steps in the payroll process cause you the most pain? Are you willing to pay for the convenience of outsourcing them? Will outsourcing truly shift the burden? And are you ready to hand over some (or all) of the control of your valuable information? Can you live with level of detail provided by a service provider or do you need more insight into your labor costs?”
Geni Whitehouse, Author,
Outsourcing Payroll: Panacea or Pay Per View?
Get More Information
For more information about whether Serenic HCM Payroll or outsourcing is the right solution, download Serenic’s white paper and complete “The true cost of payroll outsourcing” worksheet to calculate the true cost of an outsourced payroll solution.