Steps for Payroll Integration in Recordkeeping System Industry
- Employer imports payroll file through DVC, DER or ADT.
Payroll vendor provides files to Recordkeeper. Recordkeeper manually validates files, manually checks for valid payroll schedule, copies files, sets up STP job, and manually verifies output with no automated notification.
Payroll files (or Payroll Vendor API data from API converted to file) are sent to recordkeeper. Files are then processed using AutoPay2K. Files are then automatically sent to Recordkeeping system (Relius), data is retrieved from Relius, and processed data is compared from Relius to original file. Plan sponsor is notified with payroll acknowledgement totals and data issues.
270° + processes plus AutoPay2K sends data from Recordkeeper to payroll vendor or Payroll API Data. Contribution changes, loan payments are examples of types of data sent back to payroll vendor to calculate and process.
AutoPay2K temporarily stores data and confirms that contribution changes have been made and loan payments are reconciled. AutoPay2Kwill provide assistance with automation and/or enrollment. The payroll files (or Finch data) contain all employees, AutoPay2Kcan check basic eligibility requirements and provide analytical data for assisting with enrollments. 360°+ provides data for next payroll dates, so notifications can be sent out before payrolls are received. Year end census comparisons are also automated!
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