U.S. Payroll with Microsoft Dynamics AX 2012 R2
Posted on: December 28, 2012 | By: SuperUser Account | Microsoft Dynamics AX/365
The Microsoft Dynamics AX 2012 R2 release includes new capabilities to help organizations manage their talent globally. In addition to these global enhancements, this release includes a payroll solution to address U.S. tax regulations and requirements.
In general, organizations only have two options when it comes to payroll: you can outsource it or manage the process in-house. When outsourcing payroll you may save time and resources but your sensitive personal and financial data is not fully under your control. What’s more, this option may or may not deliver the savings relative to the effort it takes to manage the process.
When processing payroll in-house your data is fully under your control. The main consideration is the resources necessary to run the process internally.
Whether you are in the public sector or private industry in the U.S. and you want better control of your payroll data and process, then I invite you to take a look at the new payroll solution available in this release. It is tightly integrated with other areas of Microsoft Dynamics AX 2012 R2 (such as Human Resources, Financials) and enables you to do your payroll in-house. Whenever such highly sensitive information is at stake, processing payroll in-house helps to ensure your employees are paid on a timely, accurate basis while giving you peace of mind.
Microsoft Dynamics AX 2012 R2 provides a comprehensive payroll solution:
Enables a one-time setup of benefits, deductions, fringe benefits, workers compensation, and general liability insurance via a seamless integration with Human Resource capabilities in Microsoft Dynamics AX. Easily facilitates printing of pay checks and/or direct deposit pay into employees’ savings and checking accounts through a similar seamless integration to Financial Management capabilities. In addition, this release streamlines your ability to distribute costs to the necessary accounts, and to post payroll.
Runs the payment generation process to have the payroll solution do the necessary deductions, contributions, as well as most federal, state, and local tax calculations – gross to net calculation.
Enable employees to view their pay statements on a self-service basis in the Enterprise Portal in MS Dynamics AX 2012 R2.
Easily records both regular pay (such as salary) and exception-based earnings (such as paid time off).
Helps you manage future changes as well as track historical changes by providing a complete picture over time when you date effective data across Payroll. For example, allowing your payroll staff to work ahead and make future-dated changes when possible saves critical time when running the payroll process. The date effective functionality also provides the ability to have mid-pay period compensation rate changes as frequently as necessary.
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All the best!
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