Benefits September 2, 2008

Payroll Professionals Still Strive for Accuracy

September 2, 2008 (PLANSPONSOR.com) - A new survey by CyberShift and the American Payroll Association (APA) shows that maintaining accurate time, attendance and payroll records remain top priorities for most payroll professionals.
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However, according to a press release, most survey respondents revealed they still manually record employee hours on paper-based forms or Excel spreadsheets, which can often result in errors. Nearly 20% of those surveyed said they experienced errors in a typical payroll cycle, with one-fifth of those saying they had between 1% and 5% of paychecks in a cycle contain errors.

The survey was conducted to coincide with National Payroll Week .

“This survey is especially noteworthy as we celebrate National Payroll Week in that it reinforces the need to examine current processes and identify where improvements can be made that enable payroll professionals to successfully do their jobs and impact the bottom line of an organization,” said APA Executive Director Dan Maddux, in the press release.

More than 1,500 payroll professionals from companies ranging in size from less than 500 employees to more than 10,000 employees completed the APA-CyberShift online survey from June 3, 2008, through June 17, 2008.

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