- The name of each contracted employee
- The wages and benefits of each employee
- The type of work being done
- Weekly working hours
- Withholdings and gross wages
- A statement of compliance
Is it possible to estimate the time required to complete the WH-347 form?
The Department of Labor has written in a very tiny print on form that completing the form requires an average time of 55 minutes. It includes time for reviewing instructions, searching and maintaining data, and reviewing the collection of information. It is also stated that you can send your comments regarding these estimates, including your suggestions, to the administrator. It means the department of labor recognizes that completing the form is a time-consuming process. According to their calculation, 1 hour is required to create a payroll report of 8 employees per week. A large company having 200 employees will need to spend almost 24 hours creating weekly payroll reports.How to reduce the time for certified payroll reporting?
Here are some effective strategies to streamline the process of creating weekly reports and save valuable time:
1. Enhance your skills through training: Professional organizations and associations offer training programs that can greatly improve your proficiency in creating reports. While not mandatory, this training can significantly reduce your workload and make the reporting process easier and more comfortable.
2. Invest in top-notch payroll software: Not all payroll software is created equal. Look for a comprehensive solution that simplifies the payroll process and offers or integrates with a timekeeping platform . This is particularly important for large companies dealing with a large amount of data.
3. Leverage technology like Certified Payroll Reporting: By utilizing technology solutions like Certified Payroll Reporting, that integrate seamlessly with major payroll providers and automate the process of certifying your payroll with federal, state, and municipal entities, you can safeguard against potential punishments and penalties for any mistakes or errors in your reports. Make sure your tool not only provides the data and reports needed, but also provides a statement of compliance
4. Outsource your reporting and compliance tasks: Find a partner who can take the entirety of certified payroll reporting off your plate. Certified Payroll Reporting's full-service offering takes the burden off your shoulders so you can focus on your core business.
By implementing these strategies, you can effectively reduce the time and effort required for creating weekly reports, allowing you to focus on other important aspects of your construction projects.
