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Paperless payroll: Employees are coming around

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in Small Business Tax,Small Business Tax Deduction Strategies

Once resistant to the money-saving practice of getting paid through direct deposit, employees now say they favor electronic payments over traditional paychecks.

In fact, 62% of employees who are paid via direct deposit or password-protected pay cards told the American Payroll Association they don’t even want paper pay stubs. Instead, they prefer to view their pay history online. Eleven percent said they would object to online statements.

Results from the association’s 2008 “Getting Paid in America” survey show that 90% of employees are paid by either direct deposit or pay card. Businesses have drifted toward electronic payments and self-service online pay stubs to save money on paper and printing.

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