When certified payroll is handled using a manual, in-house approach, it can be a time-consuming and tedious process that still leads to noncompliance penalties, employee retention issues, and detracts from core operational tasks and business growth. This is especially true for businesses in the construction industry that receive federal funding for key projects, demanding more stringent recordkeeping, reporting, and frequent adaptation to regulatory changes.
Businesses taking a manual approach to certified payroll must do all of the following and more:
Through a combination of advanced technology and expert support, Payday Payroll optimizes your business’ certified payroll process to fulfill all mandatory requirements, including streamlined payroll processing, recordkeeping, (sub)contractor payroll compliance, adherence to prevailing wage standards, and much more. We provide long-term construction payroll solutions and automated payroll compliance for all businesses that require certified payroll.
Our certified payroll platform seamlessly integrates with related HR processes like time & attendance, scheduling, and benefits, and offers all of the following features:
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Especially in the construction industry, employers use certified payroll as a payment method to ensure compliance with local, state, and federal laws. Certified payroll is required to accurately document (and retain payroll records of) employee/worker hours, wages, and benefits during federally-funded projects.
Employers must be especially mindful of compliance with regulations like the Davis-Beacon Act (DBA) and McNamara-Ohara Service Act, which require payment of “prevailing wages” (compensation equivalent to similar work in the region) plus fringe benefits to employees and other workers. Of course, a range of other local, state, and federal regulations apply to businesses working under federal contracts, which is why Payday completes all of the following compliance-related services on your behalf:
Payday Payroll offers a comprehensive, user-friendly, and compliant certified payroll solution, simplifying complex certified payroll processes and ensuring regulatory compliance.
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Among contractors and subcontractors who work on government-funded projects, certified payroll is the required payroll system. Certified payroll confirms worker/employee payroll records related to wages, benefits, and hours worked on public works projects. Especially in the construction industry, federally-funded projects must abide by the Davis-Beacon Act and other regulations that relate to prevailing wages, fringe benefits, project headcounts, and other factors.
When a business fails to comply with certified payroll regulations, they may face severe penalties, including civil charges, criminal charges, withdrawal of federal funding, employee lawsuits, labor union lawsuits, enforced payment of owed wages/fringe benefits, or even disbarment from future federal contracts for up to three years. Responsible payroll reporting for construction (and other industries utilizing federal funding) is imperative to avoid these penalties and other barriers to business growth.
Approaching certified payroll with an in-house approach often leads to noncompliance penalties, reduced funding, employee retention issues, and a diminished business reputation. Although these issues can be avoided, certified payroll still draws time and resources away from essential business development that helps your business grow and thrive.
That’s why Payday Payroll offers a comprehensive certified payroll solution to keep your business fully compliant while processing payroll accurately, efficiently, and fully integrated with related HR processes. We offer access to personalized, expert support, advanced security features, and intuitive self-service functions that keep each step of the certified payroll process streamlined and simplified for you and your employees.
Ready to get started with an easy-to-use certified payroll platform? Contact us today for access to a personalized solution that meets your business needs.