Pay Statements: Pay Stub Compliance Services
Simplified pay statements for your complex and compliance-driven scenarios
For a growing number of employers, relying on the standard pay statement from your payroll provider isn’t sufficient. Experian Employer Services helps payroll teams create multiple types of pay statements, without limitations, to meet all state and company requirements.
Here’s how we help:
- Universal and continued access for current and former employees
- Seamless integrations with payroll systems and EDSI for print
- Mobile-optimized access and secure delivery
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The Champion’s Guide to Overcoming the Madness of Workforce Compliance
Each year, employers must weave past a number of obstacles trying to prevent them from scoring on their HR objectives of maintaining compliance throughout their organizations. It takes a complete lineup of having the right technology, workflows and people to succeed. And the game doesn’t get easier as rules change, new players are continually joining your team and the game keeps getting faster.
Tailored and flexible solutions
Meet the needs of various employee groups with multi-language support, and customized, configurable options for pay and labor field needs. We also enable the ability to scale and meet the growing and changing needs of an organization. Benefit from tailored branding, layouts, and can integrate with EDSI print vendor for ease of implementation and delivery.
First-class data management
Our Pay Statements solution handles large or small data sets and can combine data from multiple payroll solutions. Experian Employer Services bridges the gap for system moves by delivering historical and/or current data for employers moving to a new provider.
Premiere employee experience
The solution is mobile optimized, making pay info access easy and straightforward for employees. Former employees can also access their historical Pay Statements as needed. We help employers by offering a single source of pay and tax truth for the employee, eliminating the need for accessing multiple systems for documents.
The trust and power of Experian
Employers partnering with us benefit from the size and security of Experian. Our solutions are security focused with secure sign-in for employees. Employers trust the Experian brand because of our history serving consumers. Our subject matter experts have deep expertise in employer compliance and help employers stay audit ready.
With Experian Employer Services you can take advantage
of:
- Tailored pay statements includes relevant information for each employee group with options for English, Spanish and French
- Universal and continued portal access for current and former employees
- Text and email alerts
- Compliance with state required access including the option of EDSI print integration
- Include additional information and any required employee communications
- File integrations with Oracle and Oracle Cloud
- API integrations to present pay statement data in the solution of your choice
From accuracy and compliance to data security, accessibility and expert support, there are many reasons to turn to Experian for your pay statement services. Book a demo today to learn more.
Payroll Tax Compliance Services
Along with pay statement compliance, employers need to ensure payroll tax compliance, too. Our payroll tax compliance services provide employers with experts who offer strategic tax consulting to navigate Merger & Acquisition, lookback, and more.
Pay Statement Services FAQs
Whether you’re a small business or a large organization, finding ways to increase efficiency and compliance is essential. One area you can improve is payroll processing with a pay statement service. But what is a pay statement service? Pay statement services refer to tools or software businesses use to manage payroll processing to produce employee pay statements. By automating the pay statement process, companies can have assistance calculating taxes, benefits and deductions to ensure accuracy and compliance with labor laws.
There are several key reasons why working with a pay statement service is essential, including:
- Efficiency: Pay statement services help streamline payroll processes, which can help increase the efficiency and productivity of your HR and payroll teams.
- Compliance: Using a pay statement service can help reduce errors and mistakes humans are prone to make, which can help ensure compliance and reduce the risk of fees and penalties.
- Employee satisfaction: Another key benefit of using a pay statement service is increasing employee satisfaction, as these services make it easy for employees to access their pay statements and related information, which can also reduce the number of inquiries and questions your HR and payroll teams receive.
Working with a reputable pay statement partner can help your business in a number of ways. Some of the reasons you may want to invest in pay statement services include:
- Increase transparency: Pay statements can increase transparency by showcasing payroll calculations, allowing employees to spot mistakes and make corrections.
- Save time: Teams with existing manual processes can automate time-consuming tasks and allocate that time to other areas of the business.
- Employee self-service: Give employees the ability to access their pay information and pay statements from an intuitive self-service portal.
- Free up resources: For HR and payroll teams with manual payroll processes, you can put time back in their hands by streamlining mundane manual tasks.
At Experian Employer Services, we offer a wide range of employer services solutions that can help your organization, including pay statement services. With our pay statement services, you can easily customize the format of your pay statements to meet state and company requirements, send text and email alerts to employees regarding their pay statements, gain universal access to all pay statements and more.
Pay statement services work by automating payroll processes to improve accuracy and save time. The basic steps to using a pay statement service include:
- Sign up: Create an account and sign up for pay statement services with a provider like Experian Employer Services.
- Provide payroll data: Once signed up, input important payroll data, such as employee salaries, hours worked, overtime and additional information.
- Calculate payroll: After inputting all relevant information, your pay statement service provider will run payroll and calculate pay, including taxes, benefits and deductions.
- Produce pay statements: Once your payroll is calculated, pay statements will be generated for each employee that lists their wages, deductions, time off and other relevant information.
- Recordkeeping: Your pay statement service provider can keep records of each pay statement for compliance purposes.
Yes, pay statement services provide a safe and secure way to process payroll and issue pay statements while keeping employee and company information private. Through end-to-end encryption, you can have peace of mind knowing all confidential information stays in the right hands without any fear of data breaches.
Getting started with a pay statement service is easy. At Experian Employer Services, you can book a demonstration today to see how our workforce management services can help your organization streamline processes to create a more efficient workflow. From boosting your bottom line to increasing compliance, our pay statement services can help take your business to the next level. Contact us today to learn more about how our pay statement services can help your business.
A pay statement, also called a pay stub or paycheck, has several key purposes. To start, pay statements provide employees with a record of earnings that breaks down how much they earn each pay period, including gross pay, deductions and net pay, allowing them to understand how much is being withheld for taxes and other deductions. Additionally, pay statements serve as a form of tax documentation by outlining an employee’s earnings and tax withholdings, as well as a verification of payment that proves an employee was paid.
The information on a pay statement can vary depending on the state and company, but most include the following basic information:
- Employee information
- Employer information
- Pay period
- Earnings
- Deductions
- Net pay
- Year-to-date information
Preventing Payroll Tax Penalties
Collecting, reporting and remitting payroll taxes is a key requirement of businesses of any size. Failing to comply with payroll tax regulations can result in various penalties. In this blog, we explain your payroll tax obligations and provide an overview of common payroll tax penalties that can result from inaccuracies on payroll statements and how to prevent them from ensuring compliance.
Form 945 - Annual Return of Withheld Federal Income Tax
IRS Form 945 is a federal tax form used to report non-payroll withheld taxes, such as gambling winnings, annuities, pensions, IRAs, and more. Employers who withheld nonpayroll taxes on pay statements must file Form 945 each year. In this guide, we explain who must file Form 945, recent updates, tips for addressing errors and more to ensure you properly file this form.
Electronic Filing Threshold Reduction and Valuation of Digital Assets: Updates from the SSA/IRS Reporter
In this blog, we break down two recent updates to the tax landscape: e-filing and valuating digital assets. Electronically filing, or e-filing, makes it easy for businesses to take information from online wage statements and file their taxes, reducing paperwork and saving time and money. Effective in 2024, the IRS lowered the e-filing threshold from 250 to 10 returns. Regarding valuating digital assets like cryptocurrency, the IRS released a notice that provides guidance on valuating digital assets to ensure compliance with tax regulations. Learn more about these new updates here.
What is Form 941-X?
Employers must use IRS Form 941 to report income taxes, Social Security taxes and Medicare taxes they withheld from their employee’s paychecks, as employers are required to pay a portion of these taxes. However, if you’re an employer and noticed an error on a 941 Form you have submitted, you can use IRS Form 941-X to correct the mistake. Learn more about Form 941-X and how it can be used to correct issues found on previously filed forms.