How Long Does It Take To Create Certified Payroll Reports

The Davis-Bacon act requires employers working on construction projects to submit a weekly WH-347 report to the department of labor. This law protects employees from unethical employers, and employers in case of non-compliance will be subjected to a significant penalty. The time for creating payroll reports depends upon the number of employees working on federally funded projects. Companies having a large number of workers need to spend more time than those with fewer workers. Every form must include information of every employee, including:

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

Certainly, companies with a large number of employees need to spend more time on creating payroll reports. Similarly, the companies having a fewer number of workers need to spend less time on creating reports.

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 strategies to reduce the time required for creating weekly reports: Get trained The training can make the process more easy and comfortable for the person making reports. A number of professional organizations and associations offer training. Though this training is not necessary and costs money too, it can reduce the workload. Invest in great payroll software Not every payroll software is equally created. Look for the perfect one that, along with completing the process, also offers a statement of compliance. As large companies have to process bulk Data, they should use payroll software for creating reports. Outsourcing payroll Outsourcing payroll is a great idea, especially for small businesses. Although outsourcing requires cost, in actual there are no costs associated with outsourcing. These costs include working hours that can be easily completed by professionals. While creating reports by yourself, you may undergo any mistakes or errors. Outsourcing payroll reporting prevents you from punishments and penalties for mistakes.

Takeaway

The Davis-Bacon Act requires ALEs to submit weekly payroll reports to the Department of Labor. The more the number of employers working under a construction project, the more time will be required for creating payroll reports. The average time of preparing reports for eight employees is 1 hour. To reduce this time, companies can train their operator, use the software, or outsource the reporting process. Thousands of contractors throughout the country rely on Certified Payroll Reporting to simplify their prevailing wage reporting, join them today by clicking here to contact us.

How Long Does It Take To Create Certified Payroll Reports

Is it possible to estimate the time required to complete the WH-347 form?

How to reduce the time for certified payroll reporting?

Takeaway

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