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| Posted 10.05.06 |
Payroll Going Paperless
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Wesleyan is pushing for its payroll to go
paperless.
All faculty, staff and students who receive a Wesleyan payroll check now
have the option of receiving their pay stub online. This will eliminate all
paper-processing.
“By going all-electronic, this is going to save more than the 25 cents it
costs to pay for the paper,” says John Meerts, vice president for Finance
and Administration. “We’re going to save on distribution costs we well. And
if you’re like me, I end up just tossing it aside, losing it or disposing of
it. It will be more convenient not to get this every pay period.”
Going all-electronic can be completed in three steps.
First, sign up for paycheck direct deposit. Direct deposit eliminates the
need to take paychecks to the bank, and an employee’s net pay is sent
directly into his or her checking or savings account. To sign up, take a
voided check to the Payroll Office located on the fourth floor of North
College and complete the Direct Deposit Authorization Form. This form also
can be printed from the Finance Web site at:
www.wesleyan.edu/finance/financeDept/payroll/directDeposit.htt.
More than half of all students, staff and faculty already have direct
deposit.
Secondly, register for a secure iPay viewer. iPayStatements allow employees
and students secure, Web-based access to their pay statements and W2 wage
and tax statements. This service is offered with secure, self service access
to your pay data. You can enroll for iPayStatements online at:
http://www.wesleyan.edu/finadm/introducing_ipaystatments_portfolio.htm
and access iPay through the staff and student Electronic Portfolio.
Thirdly, notify the Payroll Office to End Printed Pay Statements. Send an
email to
payroll@wesleyan.edu and
request that printed pay statements are stopped. Employees should first make
sure their pay amount is being deposited electronically into their bank
account and they can access their electronic pay statement through iPay at
least once.
Wesleyan’s Payroll Services and Finance and Administration Department will
award anyone who completes the process with a $5 gift certificate to Pi Café
or Red and Black Café.
All employees will continue to receive their W2 tax forms through the
regular mail.
The idea to go all electronic is part of Project $AVE, an initiative to
collect, review and implement new ideas for sustained cost savings and
improved efficiencies throughout the Wesleyan community. More information is
available at
http://www.wesleyan.edu/projectsave/.
“We’ve had this option the past couple years, but now we want to make this a
major initiative,” says Ed Below, director of administrative applications
for Finance and Administration and Project $AVE coordinator. “It’s a win-win
situation.”
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By Olivia Bartlett, The Wesleyan Connection
editor |
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