Optimum provides the required Average Hours Worked report to assist with determining which employees are considered full-time equivalents as well as forms 1094 and 1095. Additionally, Optimum has a report which will determine an employee’s health care affordability under the minimum essential coverage regulations. Optimum continues to stay informed 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 would solutions that allows a different support person to answer any question 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 a payroll provider depositing an employee’s paycheck directly into their bank account rather than providing the employee with a paper paycheck.
A pre-note is test data that is sent to an employee’s bank account to ensure direct deposit is set up correctly.
A pay card is often used to pay employees who want direct deposit, but do not want to it associated with a bank account. Pay cards function similarly to debit cards, as they can be used at point of sale purchases and to withdraw cash from ATM’s.
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 fine.
With outsourcing, a third party HRIS vendor will take the employee and time information submitted by an employer, and uses 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 needed to process 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 the file specs and post them to the GL via the financial systems import utility.
Our solutions allow you to easily file your own taxes on your own 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 stands for Human Resources Information System, while HRMS stands for Human Resources Management System. Often times the two are used interchangeably, however there is a slight difference. HRIS systems are used to track the numerical portion of employee information, such as social security numbers, tax information and schedules. HRMS systems are able to monitor employees on a more qualitative perspective. This can include tracking performance, employee’s satisfaction surveys and other personnel issues.
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This software is so much more than what we had before. There are more reports available, processing of payroll is much easier, less work. The task of accumulating all of the information for the install was stressful, but the pay off was well worth it!