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SAP has the most sophisticated global payroll solution on the planet, with approximately 9000 license Payroll customers using it every day to pay their employees.
For those customers in the United States, EPI-USE Labs makes a solution to assist with the processing of payroll. The solution is called Pay Recon. It is an automated reconciliation tool for the proactive balancing of HR and Finance transactions between an employees payroll results, their FI posting, third party postings and tax reporter.
Pay Recon is the perfect product to reconcile tax imbalances, FI posting details, W-2 and pay check explanation reporting. The solution can automate reconciliation by proactive balancing the employees payroll results, their FI postings, their SUI, third party postings, 941s and W-2s.
The EPI-USE Labs team is made up of payroll professionals who appreciate the challenges faced by US customers in all things SAP Payroll.
Leveraging Pay Recon, users can streamline reconciliation and eliminate running multiple reports, download them to Excel and process the look ups to get the information needed. Pay Recon will save you hundreds of hours a year in payroll support and reconciliation and it's not just for year-end. It can be used everyday, every time you process payroll. Pay Recon allows users to perform balancing throughout the year, so that by year end the adjustments and provisions required for a fully balanced system are kept to a minimum.
This solution combines a series of reports that help identify potential issues that may cause imbalances between payroll, FI and third party postings and your tax filings. These reports and utilities include a series of health checks, balancing reports and utility reports for reconciliation. It also includes data collection and tax balancing, W-2 explanation analysis which allows you to see both the configuration and the mapping of all your wage types, it includes a payroll to finance analysis and employee payroll information report which is really great to assist you on your payroll help desk with answering questions from employees about their paychecks.
Some of the areas that used to take literally hours to investigate and even more to explain, can now be reduced down to minutes and accessed via single screen. These include things like complex retrospect payroll recalculations, pay to pay comparisons, savings plan deduction changes, retros and arrears, explanation of leave issues, examination of audit changes, taking a look at changed info types, post tax deductions and the list goes on and on.
If you would like to learn more about how Pay Recon can assist you in your US payroll, please let us know, by reaching out to me directly or by filling out the form on our website. Thanks for watching.
Pay Recon is an easy-to-use reconciliation instrument for proactive balancing of SAP® HCM and FI transactions, third-party postings, W-2 and 941 tax reporting. With it you can balance payroll results throughout the year, so that by year-end your data is more accurate and only minimal adjustments are required.
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