Understanding what's in a payroll agreement doesn't sound like an exciting way to pass your time.
If you choose (or have chosen) Whirks as your new payroll partner, it's imperative that you understand which services you're receiving, how they're going to benefit you and your team, and what you're going to pay for them every month.
The Outline of our Agreement
In the Whirks payroll agreement, we outline:
- What you discussed with your sales rep. We want you to be clear on what your sales rep has sold you and the services you've agreed to.
- The problems you're having that you want to fix. We want you to be happy with our services and know that we are helping you better your back office.
- The solutions we offer and the pricing attached to them. We'll outline the features that you want, how much they cost, and if they're the right fit for your business.
Any agreement or contract is a mutual understanding of what is expected of both parties. Our agreement isn't a long, 50-page document that makes your head spin. It's relatively quick to read through and understand.
We want you to be clear on what your sales representative has sold you. Look beyond the price and study what's in the payroll agreement. You may have discussed implementing a time and attendance feature, but your sales rep forgot to include it in the pricing.
It's important because there are ancillary fees that will be listed in your agreement, and you don't want to be surprised when you receive your first bill. That doesn't launch our relationship off to a great start.
Essentially, we're summarizing which services you're buying and what you're going to be paying for them. In the event that we aren't the best fit for you as a payroll provider, we also outline when and how to terminate your payroll agreement.
Keep in mind that our payroll agreement is month-to-month - we don't do long-term contracts. Most payroll companies follow this same model unless they offer you a large discount for signing a year-long agreement.
Let's dive into which features you will see in our agreement and what they mean.
Payroll
This package gives you access to all of our payroll processing systems. We process your payroll at whichever frequency you prefer (weekly, bi-weekly, semi-monthly). We'll also set up your PTO plans, general ledger integrations, and time-off requests.
Onboarding
We highly recommend implementing our onboarding feature. This enables you to electronically onboard your new employees and walk them through the process of filling out new hire paperwork.
Time and Attendance
The time and attendance feature manages where, when, and how your employees are clocking in and out. It's based on rules that you handle and control as an employer.
Benefits Administration
The benefits administration feature tracks your ACA eligibility over your measurement period. You can set up open enrollment so that employees can make elections based on their benefits plan.
Employee Self-Service
All of our packages include employee self-service, which means your employees can access their personal information. As an employer, you can customize what you want and what you don't want employees to see.
For example, you may only want your employees to see and access their paystubs and W2. Or, you may want them to be able to view their PTO accruals and change their direct deposit information.
General Ledger Setup
A general ledger setup is when we take your wages, taxes, deductions, and other earnings and translate them into how you want them displayed in your financial systems.
We're taking your chart of accounts from your financial statements and mapping all of your labor data or your payroll information to that chart of accounts.
We work with accountants to determine exactly how you want your labor mapped. We do the work and it translates as simple reports on your end.
A general ledger represents the record-keeping system for a company's financial data, with debit and credit account records validated by a trial balance.
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Executive Dashboard
No matter what your size or industry, many companies struggle with their inability to gather data from their payroll systems in layman's terms. Our dashboards are one way we aim to solve that problem.
An executive dashboard is simply a report that helps you better understand your information. It takes reports that are PDF or excel-based and puts them into graphs that you can consume quickly and easily.
For example, you may have an excel-based report that shows your turnover in the course of six months. A bar graph could break that down month by month, or a pie chart could explain that 51% of those employees were male and 49% were female.
Agree to study your agreement.
At Whirks, we're dedicated to helping businesses like yours get one step better every day by helping you build a better back office, empowering you to focus on leading your team and growing your company.
But at the end of the day, we're all people. Mistakes are made sometimes and misunderstandings happen. It's important to us that we lay a foundation of understanding so we can serve you best.
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