Optimum provides the required Average Hours Worked report to assist with determining which employees are considered full-time equivalents, as well as forms 1094c and 1095c. In addition, Optimum has reports to process and verify accurate ACA filing which include Audit reports, Employee counts, Audit Error, and a report which will determine an employee’s health care affordability under the minimum essential coverage regulations. Optimum continues to stay abreast of upcoming ACA requirements and keep our clients informed.
A dedicated support representative is assigned to all of our clients when they purchase our software. This individual is your go-to contact at Optimum who will get to know you and how you use the Optimum software. This makes forming a business relationship between you and your support representative much easier than other solutions that allow a different support person to answer any questions you may have.
Yes! During implementation, the system is customarily set up to meet your unique business needs.
Direct Deposit refers to the process of sending a file based on NACHA specifications to your bank or other federal reserve system that will deposit the employee’s net pay into their bank accounts, rather than providing employees with a paper paycheck. Optimum provides the ability to create the file needed for your bank.
A pay card is used to pay unbanked employees and can assist the employer in being paperless and more cost effective. For the employee, pay cards function similarly to debit cards, as they can be used at point of sale purchases and to withdraw cash from ATM’s. For the employer, pay cards are reloadable and funds are deposited to employee accounts via direct deposit.
An in-house solution sits behind a company’s firewall on their own server. Depending on the software, an in-house solution can be accessed via the internet or a company’s intranet. A SaaS solution is stored on an external server and is accessed via the web only.
Software pricing will be different for each company. Usually, a SaaS application will be priced on a subscription basis to be paid per employee per year. An in-house system is typically priced as a one-time investment to purchase the software.
The Affordable Care Act (ACA), also known as ObamaCare, is the health care reform program that took effect in the United States on March 23, 2010 and requires all U.S. citizens to have health care or pay a penalty. It also requires employers to report aggregate costs of healthcare each year to the IRS.
With outsourcing, a third party HRIS vendor will take the employee and time information submitted by an employer, and use the data to print and send checks directly to employees. An outsourcing provider will also file taxes for an employer. Using an in-house or premise-based system, an employer will collect the necessary time & employee information and control the processing of the payroll, print checks and file taxes within the in-house HRIS software.
Payroll systems integrate with ERP systems through the general ledger (GL). The payroll system will export a file according to the required specs and post them to the GL via the financial systems import utility.
Our solutions allow you to easily file your own taxes as we keep our payroll software up to date with federal, state and local tax rates. Optimum does have a partner that provides tax filing, if preferred.
A one-database system allows users in HR and payroll departments to share certain employee data across different applications without each department having to enter the employee data multiple times. Unlike “interfaced” systems, a one-database software system has a single master employee file where all applications can access the employee information. All updates are made in real time, and all double entry is eliminated.
HRIS (Human Resources Information System) and HRMS (Human Resources Management System) are often used interchangeably, but there's a slight difference. HRIS systems track quantitative employee information like SSNs and schedules. HRMS systems monitor qualitative employee information like performance and employee satisfaction. HCM (Human Capital Management) systems encompass the entire scope of employee engagement, both qualitative and quantitative.
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