As we near the end of the year, individuals and businesses alike are gearing up for the time-consuming and often dreaded year-end government forms. Filling out these forms precisely and promptly is important to avoid penalties as well as extra fees. The process of doing it, however, can be overwhelming for HR professionals who must collect, verify, and report employee data.

Good thing, there are Human Resource Information Systems (HRIS) that have revolutionized HR management with standout features like Lift and Switch. With its various advantages, businesses that adopted this have undoubtedly seen significant improvements in their HR processes.  

Are you ready to know how Lift and Switch in HRIS can certainly make your year-end tax compliance simple? 

lift and switch in HRIS

What is Lift and Switch?

Another key point in lift and switch in HRIS

Lift and switch is also called lift and shift. For one thing, this feature in HRIS that makes managing and transferring data easier. It also cuts down on human errors that can arise when dealing with a lot of paperwork. 

Basically, it allows the organization to transfer all the information from the on-premises legacy system to the cloud. The cloud-based system stores the valuable data that one can access whenever they want. Since it is a onetime setup, there will be minimal or even without operation disruption.  

This allows for the smooth integration of the new system into your existing infrastructure without risks.

lift and switch in HRIS

overall, the lift and switch in HRIS feature makes tax xompliance simple

Benefits of Lift and Switch in HRIS

no to mention, the lift and switch in HRIS feature

1. Enhanced Efficiency

The end of the year is a busy time for HR professionals, with many tasks requiring their attention. These are also subject to strict deadlines. Therefore, they must ensure that all forms are accurately filled out and submitted on time. 

Thus, having Lift and switch in place alleviates the pressure during year-end reporting. One of the biggest advantages of the Lift and switch is how it boosts the efficiency of HR tasks. It speeds up the reporting process by simplifying the data transfer, as well as minimizing manual tasks.  

This feature also allows HR professionals to copy and move data between different forms and fields easily so that they can save time on the tedious task of entering the same information repeatedly. By cutting down on data entry time, HR teams can certainly concentrate more on important responsibilities that need to be accomplished. 

This means that they can complete forms while meeting compliance requirements without the stress of last-minute rushes.

2. Accurate Data Reporting

When it comes to year-end government forms, especially Alphalist or any other BIR Forms, the accuracy of data is important. With this in mind, making mistakes or having discrepancies can cause problems, such as compliance issues or hefty penalties. 

By having Lift and Switch in HRIS, you can indeed say goodbye to those worries. This feature makes sure that data is copied from one form to another as is. Thus, ensuring consistent information is maintained across different platforms and systems. Aside from that, you can move from a manual to an automated process to copy and transfer the information you need. 

It mitigates the risks associated with hardware loss because of the cloud-based system that allows for easy access to employee records from anywhere. This makes it convenient for HR professionals to retrieve and update information, easier as well as compare the information in the system. 

3. Employee Satisfaction

Employees often need to provide the same information multiple times throughout the year. Whether it is to update personal details, tax withholdings, or benefits information, doing it is undeniably bothersome to most. But with Lift and Switch in your HRIS, you can make the entire task easier for all the end-users. 

By leveraging this feature, employees are provided with a platform where they can individually edit their personal data. This not only alleviates the burden on employees but also ensures a hassle-free experience, minimizing the chances of administrative errors impacting their records. 

In an era where data privacy and security are paramount, this feature ensures that sensitive employee information is securely transferred and stored. By safeguarding employee data, you comply with legal requirements as well as build trust and confidence among your people. 

Unquestionably, lift and switch in HRIS is important.

Making the most of Lift and Switch in HRIS

to say nothing of the lift and switch in HRIS feature.

Although it has been established that lift and shift in HRIS can benefit businesses, it is still important to know how you can maximize its benefits. To do this, you must:

Plan thoroughly

In adopting lift and switch in HRIS, you must have a comprehensive plan and checklist. Start by knowing which forms you will migrate to as well as the target date of migration. Then, identify the resources and support you need for a successful implementation. This basically includes the training for the team and necessary equipment that will ensure the effectiveness of the migration.

Identify your requirements

Since different End of the Year Reports are vital, you indeed need to know which reports are required for your specific situation. Some common types of EOY Reports include:  

  • 13th month Pay 
  • Annualized Tax Refund Report 
  • Annualized Income Tax Report (Running Balance) 
  • Alphalist of Employees Report 
  • 1604CF - Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes 
  • 2316 BIR Form – Certificate of Compensation Payment or Income Tax Withheld 

Once you have identified which forms you need, you can start finding a provider that can help you prepare these reports accurately. By all means, try searching systems that have lift and switch in HRIS like Hurey. Opting to these kinds of providers will undeniably enable you to switch from manual to automated in just a few clicks. 

Ask questions

If you lack knowledge about the HRIS, specifically the process, do not be afraid to ask questions. By asking questions, you can gain a better understanding of how the HRIS will integrate with your current processes and workflows. Besides, this information will be crucial in determining if the system is the right fit for your organization’s specific needs and goals. 

Know your provider

Proactively contact your potential service providers as well as inquire about their pricing structure, available services, and any additional charges that may be applicable. As a matter of fact, it is important to ask about their experience and expertise in handling similar projects or clients. Not to mention, you make an informed decision and ensure that the chosen provider is capable of meeting your requirements. 

Additionally, This is How Lift and Switch in HRIS Makes Tax Compliance Simple.

lift and switch in HRIS

to clarify How Lift and Switch in HRIS Makes Tax Compliance Simple

Do not miss out before the year wraps up

It must be remembered that Lift and Switch in HRIS Makes Tax Compliance Simple

The countdown to the compliance requirements deadline has officially started. But worry not, because with Hurey by your side, you’re in for a jolly season. Having a powerful HRIS like Hurey will help you meet all your compliance deadlines, reduce administrative stress, as well as effortlessly maintain data accuracy.  

With an effective HRIS in place, you can streamline your year-end compliance processes. Furthermore, you can focus on other important aspects of your business during this festive season. 

on the positive side, Lift and Switch in HRIS Makes Tax Compliance Simple

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