BenefitMall, a Dallas-based provider of payroll and benefits administration services, is one of only a handful of nationally recognized payroll providers offering a specialized solution for construction companies. They offer their specialized solution because they understand the unique needs of construction companies and their payroll departments.
Interestingly enough, it is exceedingly difficult for construction companies to make do with generic payroll software. Even in the age of online payroll and automation, generic solutions just don’t account for all of the intricacies of construction payroll. It is no surprise that construction companies often find themselves struggling to keep up.
If you are searching for new construction company payroll solution, would you know what to look for? According to BenefitMall, there are five essentials:
1. Multi-Jurisdiction Job Processing
Any construction company that does business outside of its own local area is going to run into complications when processing payroll for multiple jurisdictions. For example, a single payroll run for a company with interstate operations could involve different pay rates and withholding based on the locations of each job site.
Imagine a company doing business in both California and New York. The company is dealing with federal taxes, different state taxes for both California and New York, and even local taxes in some of the larger cities. Payroll software must be able to process payroll in every location regardless of applicable laws.
2. Certified Payroll Reports
Bidding on government jobs almost always requires demonstrating compliance with prevailing wage laws. How is compliance approved? Through comprehensive reporting that shows exactly what employees and contractors are being paid. Moreover, any reports produced must be certified to ensure authenticity.
Payroll software that produces certified reports is a necessity for construction companies hoping to bid on government jobs. Without those reports, a bid is dead in the water.
3. Standard Payroll Reports
Above and beyond certified payroll reports, construction payroll software must be able to produce accurate reports covering everything from payroll taxes to contractor payments. It should be able to handle W-2s, W-3s, and 1099s seamlessly. It should not take the payroll department more than one or two clicks of the mouse to generate the necessary reports.
4. Integrated Time and Attendance
Construction companies and contractors utilize a variety of ways to track time and attendance. If everyone is doing their own thing, ensuring workers get paid what they are due can be a headache. Moreover, manual calculations are ripe for mistakes. What’s the answer? An integrated time and attendance solution that automates tracking and dumps the data directly into a company’s payroll system.
Integration reduces errors by mitigating the need to enter data multiple times. It increases efficiency, speeds up payroll processing, and makes it easier to identify mistakes when they do occur. With so many time and attendance methods among contractors, an integrated system is a modern necessity.
5. Multiple Payment Options
Finally, construction payroll software must be able to account for multiple payment options. It’s no longer enough in this day and age to hand workers and contractors a paper check. You need other options.
Some workers do not maintain regular bank accounts, so paper checks are a problem. They might prefer to be paid with a payroll card instead. Others might be used to paper checks but still prefer direct deposit. Still others might prefer being paid in cash.
The construction industry is unique in many ways. As such, payroll software has to account for certain aspects of the construction industry that are not part of other industries. That’s why companies like BenefitMall offer specialized solutions that have been tailor-made for construction companies.