Are you looking to speed up your payroll process while also offering your employees an easier time managing their time? Want to help your HR staff be able to automatically track taxes and payroll processing with ease? Then you need the right software. That’s where NetSuite SuitePeople Payroll comes in, a part of the NetSuite Human Capital platform, this software can help you run your payroll with just a couple of clicks. Don’t believe us? Read more to find out how.

What is NetSuite SuitePeople Payroll?

NetSuite SuitePeople Payroll leverages the power of cloud technology to provide a comprehensive, full-service payroll system. You can automate tasks like the calculation of gross-to-net earnings, withholding taxes, deducting benefits, and more. The platform is intended to meet the demands of a wide spectrum of organizations, from startups to major enterprises, by providing scalability and flexibility to make it easy to add new users and grow your services as you need.

What Does NetSuite SuitePeople Payroll Offer?

NetSuite SuitePeople Payroll provides a collection of tools designed to simplify and automate the payroll process for organizations. These tools can be integrated with other parts of their platform to handle other HR services. Some of the features of the service include:

Automated Payroll Processing

NetSuite SuitePeople Payroll reports that they have been able to reduce the payroll process for most companies by 84%, which can be a huge leap forward for companies. SuitePeople Payroll automates the whole payroll process, from calculating gross-to-net profits to withholding the appropriate taxes and deducting benefit payments. Not only do you reduce the need for manual entry on a mass scale, but the software can also solve problems before they happen.

Real-Time General Ledger (GL) Postings

The payroll software keeps the general ledger up to date by recording payroll transactions in real-time. This feature enables finance directors to keep accounts correct and balanced, with the option to view this information across accounting software or integration with other software.

Better Audits and Reporting

Businesses benefit from SuitePeople Payroll’s expanded audit trails and reporting features. You can generate reports within seconds.

Flexible Payment Schedules and Methods

The platform accepts a number of payment schedules (weekly, semi-monthly, monthly, and annual) and methods (direct deposit, cheques). It also supports off-cycle payrolls, giving organizations the flexibility to satisfy a variety of payroll requirements. You can also run payroll across different states with taxes automatically calculated for you. Employees can also set up direct deposits for up to 10 different bank accounts.

Retirement Plan Contributions and Year-End Tax Filings

SuitePeople Payroll calculates retirement plan contributions and handles year-end tax filings for both workers and contractors. This includes preparing, printing, and submitting W-2 and 1099-MISC forms, which simplifies the end-of-year tax reporting procedure.

Employee Portal

Employees have secure access to see and amend their personal information, including bank account information for direct deposit, the past 5 paychecks, and W-4 information. This self-service option alleviates the administrative strain on HR and encourages employees to handle time benefit selection on their own.

Dashboards and Analytics

SuitePeople Payroll has over 100 standard reports, key performance indicators (KPIs), and customizable dashboards. These tools allow firms to track payroll patterns, analyze outcomes over time, and receive insight into payroll costs by location, department, or subsidiary.

Compliance and Risk Management

By automating tax filings and deposits for federal, state, and local taxes, SuitePeople Payroll minimizes the risk of non-compliance. You can make sure you file on time and with ease.

Why Companies Should Use NetSuite SuitePeople Payroll

Is NetSuite SuitePeople Payroll right for you? That’s hard to say because every company is different. Here are some key considerations that NetSuite payroll really works with:

Those who are interested in the NetSuite platform

SuitePeople Payroll is part of NetSuite’s full suite of business management solutions, which includes seamless interaction with ERP, CRM, and e-commerce features. This connection guarantees that payroll procedures are in sync with other functions, increasing overall efficiency and data accuracy. NetSuite’s full platform is a good reason to look at new payroll software.

Those looking to automate

NetSuite can help automate your payroll process and significantly reduce the time required to manage payroll, from calculating payments to processing year-end taxes. Automation can also help you reduce manual errors and create a paper trail for compliance and tax purposes.

Those concerned about compliance

Companies using SuitePeople Payroll can keep up with the ever-changing tax rules and compliance requirements at the federal, state, and municipal levels. The system automatically updates to reflect the most recent requirements, lowering the possibility of noncompliance fines.

Those who need a better employee experience

SuitePeople Payroll empowers workers by providing them with access to their payroll information as well as the ability to manage their personal and bank information for direct deposits. The employee portal acts as a one-stop shop for employees to manage their time and pay needs.

Those needing better insights

Businesses can use over 100 standard reports and key performance indicators (KPIs) to monitor payroll patterns, compare performance over time, and make data-driven choices to improve their payroll operations.

Price of NetSuite SuitePeople Payroll

NetSuite SuitePeople Payroll’s pricing structure includes an annual license fee, which is composed of three main components: the core platform, optional modules, and the number of users. There is also a one-time implementation fee for the initial setup. This license fee will be custom-priced depending on what services you need.

Are you ready to see what NetSuite can offer you? Don’t worry, we’ve got you covered, check out more here: