How does SeniorCRE forecast payroll for the next two weeks before it is run?
Payroll is a surprise every period. The schedule looks one way, the actuals come in another, and overtime is discovered the week after it was earned.
Detail
Payroll forecasts daily from the schedule plus time-clock punches in real time. Overtime is projected per employee, per pay period, with hours remaining before each threshold. Holiday and shift-differential premiums apply automatically. The forecast feeds the cash forecast and the labor variance report.
Overtime that used to surprise the controller surfaces five days in advance, and payroll lands within 1% of forecast.
Key points
- ADP', 'Paychex
- Paycom',
- , 'Workday Payroll
https://seniorcre.com/workflows/workforce/payroll-forecasting