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Contract pay, student worker wages,’12 over 9’ distributions, and other payroll accommodations present unique administration challenges for HR leaders in higher education. With Oracle Modern Best Practice, you can take advantage of mobile, social, analytics, and the cloud to transform cumbersome, time-consuming, and error-prone payroll into a more efficient and accurate payment processes. Ensure fast, accurate distribution of faculty and staff payments, including student wages and reconciliation with student aid. Reduce administrative strain by easily connecting payroll with your finance system to track labor distribution details against grant funds and fringe pool allocations while ensuring transparency and compliance with retroactivity.
Proactively monitor global payroll status and processes across all campus locations via interactive dashboards.
Data-driven verification of earnings, hours, local taxes, and deductions. Generate fast formulas for faculty contract pay, such as additional incentive compensation, and multijob FLSA overtime. Establish thresholds and limits for student pay and 12-month benefits for 9-month employees.
Generate and distribute faculty and staff payments. Reconcile educational grants to financial aid disbursements to meet any threshold limitations by connecting student wages to financial aid entities.
Generate and securely share payroll reports and synchronize with the general ledger. Push labor distribution details to cost accounting for tracking grants, fringe pool allocations, and other funds while supporting fund compliance with retroactivity.
Determine tax liabilities. Prepare tax filings and deposits.
Provide employees with secure access to profile information, pay slips, and other personal data. Enable them to review contract pay terms and renewal timelines.