Most managers find that preparing a budget is painfully time-consuming and many are using budgets that are incomplete and inaccurate. Accurate forecasting of expenditures and revenues is a vital part of being able to make intelligent decisions about your company. Payroll budgeting is key since personnel costs typically run 60-80% of a company’s total expenses. With varying employee work statuses, salaries, and schedules, it becomes very complicated to predict and manage.

Insight e-Tools makes it easy to quickly and accurately forecast payroll expenses directly from the information stored in your ADP payroll system. By automatically bringing all the employees in your company or department into one work space you can instantly see actual salary costs and see how it is distributed. Managers can then budget an employee across multiple accounts, earnings codes, departments, and various time periods. This saves an enormous amount of time spent in the budget development state as well as each time the budget needs to be revised.

Managers can now enter budgets for the current and future years using actual ADP payroll data as a comparison. Individual managers are then responsible and held accountable for their own budgets. No more sending spreadsheets to department heads to manually complete and expecting to get them back in a timely manner. Payroll budgeting that used to take 3-4 weeks can now be completed quickly and at a low-cost. And, your managers won’t be calling you to ask why they’re over budget.

With Insight e-Tools ADP Budgeting and Budget versus Actual Reporting, managers can budget with confidence!