The last months of the year are a very busy time for the payroll development team. A lot of changes are communicated by the tax authorities, pension funds and collective labor agreement parties for the coming year.
Because of these important changes, all Exact’s operational payroll modules need to be adjusted to support new demands from third parties and other organizations. Exact Online, Exact Globe, Exact Synergy, Globe 2000, Exact for Windows and even Exact for Dos are all affected and require updating to continue to meet their users’ needs. We have to make sure all our customers that use payroll solutions from these products can update their software and be sure that their payroll will continue to be calculated correctly when the changes become applicable. Here’s a brief outline of the most important changes we’re busy with.
Firstly, all new and updated tax regulations need to be implemented in the software and applied to the payroll calculations relating to the coming year. This could involve a percentage change or a new fixed sum relating to a specific rule. The conditions that govern the calculation frameworks could also be adjusted or changed. By way of an example, the work cost regulation has been introduced for 2011. We’re busy making the appropriate changes to our payroll modules now to ensure that this new regulation can be registered correctly. We need to make sure that the correct reports can be generated for the tax authorities as soon as they need them.
In addition to changes in the tax regulations, small changes can also be expected in the calculation of pension contributions. Examples of pension funds undergoing these changes include Cordares, PGGM and Syntrus Achmea.
Declaration functions also are available for most pension funds across Exact’s software. This functionality automatically sends a report on the wages and pension amounts to the pension funds in the specific format that they require. Development of this functionality for Exact Online Payroll is underway at the moment, the other products already offering this facility being updated to ensure they continue to deliver in the new year.
We are also busy expanding the base functionality offered by Exact Online Payroll. Besides the declarations for the most important pension funds, we are working on making the payroll process even more efficient. During the finalizing step of the payroll period it will be possible to automatically mail payroll slips to employees or mail a set of period documents to the customer of the accountant. In this period document you will even be able to include an automatically generated bank file.
It’s certainly a busy period but also absolutely essential that these changes are carried out in time. Only then can we be sure the customers and accountants using Exact’s payroll products continue to have their needs met in 2011. When they can continue to work with a smile on their face, so can we!