Profit Sharing System

January 1, 2000

One of the major challenges for a small company is providing the tools to help their staff to be as efficient as possible. With little or no in-house information technology staff, many small companies think that custom developed software is out of their reach. However, Irish Rose Consulting can provide solutions specifically designed to meet your business needs. In the long run, the cost of custom software is easily paid for in employee time and effort savings.

The Success Sharing system is a fine example of small business software. A small construction company in the midwest offers an employee profit sharing plan called Success Sharing. Each month, the company calculates their net profits for that month.
All eligible employees are then paid a percentage of that amount, based on their gross pay for the month. At the end of the year, the company calculates year-end profits and issues a final check based on the year-to-date pay and the company’s year-end profits.

While calculation of the Success Sharing paychecks is certainly no great challenge, it required several hours each month to print the payroll reports, and calculate each employee’s share of the profit.

Irish Rose Consulting was able to automate this process by drawing employee payroll data directly from the company payroll information in the SBT Accounting System. It now takes the payroll department literally minutes to enter the profit amount, calculate the employee shares and print a report for use in issuing checks. Based on time savings, the development
cost of this system will be repaid in less than 6 months.

Technologies Used

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