In the dynamic world of payroll management, accuracy, efficiency, and compliance are paramount. One of the key challenges businesses face is managing and exporting employee rates for various payroll tasks. Fortunately, Fingercheck offers a solution through the use of custom reports.
This article will guide you through the process of exporting employee rates using custom reports, ensuring your payroll processes are as streamlined and effective as possible.
Best practices for exporting employee rates
Exporting employee rates using custom reports can significantly enhance your payroll processes, providing the accuracy and efficiency necessary for effective financial management. Businesses can leverage technology to streamline their payroll operations, ensure compliance, and better manage labor costs.
Define your reporting requirements: Before creating a custom report, clearly define what information you need. Consider including:
Employee name and ID
Job title and department
Base pay rate (hourly/salary)
Overtime rates
Bonuses and commissions
Effective dates for any rate changes
Regularly update reports: As employee rates change due to raises, promotions, or other factors, regularly update and export new reports to maintain accuracy.
Ensure data privacy: Implement strong data security measures to protect sensitive employee information.
Train your team: Ensure team members who handle payroll and financial reports are trained on how to use custom reporting features effectively.
Review compliance: Regularly review labor laws and tax regulations to ensure your reporting and payroll practices remain compliant.
Export active employee rates
You'll need to create a custom report using the data source dedicated to active employee rates.
Log in to Fingercheck as an Administrator.
Hover over the Reports tab on the left.
Click on Employee.
Click on the +Custom Report button to create a new report.
Click Select the report EMPLMAST2 - Employee Active Rates.
Enter a short description for the Code.
Click Start.
Include components you would like to see on your report by dragging and dropping items from the right.
Click Save Report.
Export employee rate history
To obtain a comprehensive history of employee rates, you'll create a custom report using the employee rate data source. This report will include all employee rates along with the dates they went into effect.
You'll need to create a custom report using the data source dedicated to active employee rates.
Log in to Fingercheck as an Administrator.
Hover over the Reports tab on the left.
Click on Employee.
Click on the +Custom Report button to create a new report.
Click Select the report EMPLMAST1 - Employee Rates.
Enter a short description for the Code.
Click Start.
Include components you would like to see on your report by dragging and dropping items from the right.
Click Save Report.
Calculate employee estimated rates
If you need to calculate annual rates for employees, you'll create a custom report using the EMPLMAST2 - Employee Active Rates data source.
Calculate estimated salaries
Calculate the employee’s estimated annual salary by multiplying their weekly salary by 52.
If the employee is paid biweekly, multiply their biweekly salary by 26.
If the employee is paid semimonthly, multiply their semimonthly salary by 24.
Calculate the employee’s estimated monthly salary by dividing the annual salary by 12.
If you’re familiar with using custom expressions in Fingercheck, you can use the formulas below.
The employee is paid weekly:
(Iif([PayType] == 'Salary', Round(IsNull(ToDecimal([Rate]),2)) * 52, (Round(IsNull(ToDecimal([Rate]),2)) * 40) * 52))The employee is paid biweekly:
(Iif([PayType] == 'Salary', Round(IsNull(ToDecimal([Rate]),2)) * 26, (Round(IsNull(ToDecimal([Rate]),2)) * 80) * 26))
For assistance with setting up a custom expression, contact Fingercheck Support.
Calculate hourly employees
Calculate the annual wages of a full-time employee who works 40 hours per week by multiplying their hourly pay rate by 2080.
Calculate the employee’s estimated monthly wages by dividing their estimated annual salary by 12.
For more details, there is a short video guide. More help is available at our Service Desk, which is on the right side of your screen on the web.