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Discover key updates in PeopleSoft HCM PUM 50 for U.S. Payroll year-end processing. Stay informed with essential insights to streamline compliance and enhance efficiency.
Managing year-end payroll processes can often be a daunting task for administrators, given the need for precision, compliance, and efficiency. Recognizing these challenges, PeopleSoft HCM PUM 50 introduces two new dashboards as part of its Payroll for North America feature within the Insights collection. These dashboards are designed to provide administrators with a powerful way to analyze and manage W-2 tools for various U.S. Territories and year-end audit data.
The US Year-End Transactions Dashboard offers a comprehensive view of year-end form count information, empowering administrators to visualize data using intuitive bar charts. With the ability to break down totals by employees’ electronic form consent status and other relevant filters, such as HR and payroll status or state-specific data, this dashboard simplifies complex year-end reporting.
Complementing this is the US Year-End Audit Dashboard, which enables users to monitor audit errors and corrections through detailed visual representations. By providing metrics that help track the overall health of year-end processes, this tool ensures that administrators can pinpoint issues quickly, rectify them, and maintain compliance.
Together, these tools exemplify Oracle’s commitment to streamlining payroll processes, ensuring compliance, and delivering actionable insights. They not only enhance the efficiency of year-end activities but also set the stage for a seamless transition into the next payroll cycle.
These innovations are more than just technical upgrades; they represent a strategic shift towards leveraging data and insights to tackle one of the most critical administrative tasks. With these dashboards, organizations can improve accuracy, minimize risks, and enhance overall efficiency, creating lasting business value.
As you delve deeper into this blog, we’ll explore the specific features and benefits of these dashboards, along with practical ways they can transform year-end payroll processing for U.S. territories. From analyzing W-2 form counts to tracking audit errors and corrections, PeopleSoft HCM PUM 50 delivers tools that redefine administrative efficiency and compliance.
Administrators can assess form counts in several ways, including employee HR status, payroll status, print type (paper or electronic), and whether employees are terminated. They can also filter by state and U.S. territory, which provides a clearer view of the data. Additionally, the dashboard helps identify which W-2 form boxes have the highest totals and offers detailed information for review.
Fig 1: Payroll Insights
The US Year-End Audit dashboard provides visual representations of any audit errors and corrections related to year-end processing. Important metrics displayed at the top of the dashboard help administrators monitor the overall health of the process. They can find answers to questions about where audit errors occurred and how many forms were generated, distinguishing between paper and electronic forms.
Fig 2: Monitoring Audit Record
The Year-End Error section allows administrators to pinpoint errors encountered during processing, along with the frequency of these errors and the forms they affect. Meanwhile, the Year-End Correction section shows how many correction forms were generated and lists the changes made to year-end forms.
Fig 3: Year-End Form Corrections
The newly introduced dashboards in PeopleSoft HCM PUM 50 offer transformative features for Payroll administrators, making year-end processing more efficient and insightful. These business benefits align with the advanced capabilities of the US Year-End Transactions Dashboard and the US Year-End Audit Dashboard, providing measurable value:
Administrators gain a comprehensive view of W-2 forms across U.S. territories with easy-to-read bar charts and segmentation options.
Detailed insights into electronic form consent status, form counts by HR or payroll status, and state-specific data enable data-driven strategies.
The dashboards eliminate time-consuming manual data collation by providing centralized access to key metrics.
Quick filters and visualization tools allow for faster identification of trends, streamlining the decision-making process.
Accurate tracking and reporting of W-2 forms ensure adherence to federal and state regulations, reducing risks of non-compliance.
Audit dashboards help promptly address errors, ensuring all forms meet statutory requirements.
Year-end form counts and error correction data in one place simplify administrative tasks, making the process smoother and less stressful.
Error and correction tracking enhances process transparency and minimizes delays.
Visual dashboards foster better communication among teams by presenting complex data in an easily digestible format.
Teams can stay informed on the year-end processing status, ensuring alignment and timely interventions.
Unlock the full potential of your year-end payroll processing with the powerful new features in PeopleSoft HCM PUM 50. Gain deeper insights, streamline compliance, and ensure accuracy with advanced dashboards and customizable filters. Whether you’re managing W-2 form counts or auditing year-end data, Kovaion’s expertise in Oracle PeopleSoft solutions will empower your team to navigate the complexities of payroll with ease.
Ready to enhance your payroll efficiency?
Contact Kovaion today to learn more about how our end-to-end Oracle PeopleSoft solutions can optimize your processes and drive compliance. Let us help you achieve smoother, more efficient year-end payroll cycles with our expert solutions.
Kovaion – Your trusted partner for the best Oracle PeopleSoft solutions, from start to finish.
Author: Vasanth Ramasubramanian, PeopleSoft Associate Consultant.
Connect with us for PeopleSoft End-to-End Implementation, Enhancement, Updates, and Support.
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