Welcome to our June product update! We're excited to share the latest enhancements designed to make payroll easier to manage and more efficient. Here are the new features released during the month of May:
S-Corp Owners Health Insurance. We have added support for S-Corp Owner Insurance, a fringe benefit commonly offered by S-Corp businesses to employees as a tax-free benefit. Our payroll engine now handles the complex taxation rules at both federal and state levels, allowing you to offer this benefit without additional engineering effort. Supporting S-Corp Owner Insurance is crucial for S-Corp companies, enhancing the reach and adoption of your payroll product. Find below the guidelines to access to this feature.
If your customer base includes S-Corp businesses, contact Salsa customer success to opt into this feature. Once enabled, it will automatically appear in the Employer Profile component as a new benefit type. No additional product or engineering resources needed.
New Quick Access for Reports. We have improved the Payroll run list and Employer Dashboard to include quick access to payroll reports. Employers can now directly access payroll reports for any confirmed payroll run, simplifying the process of providing data required by accountants and finance teams. This feature enables access to payroll reports without additional product or engineering work. You can leverage our reports API to provide a different access point. As with other UI elements, it is highly configurable, and you can disable the new quick access with a simple parameter.
New Paystream Endpoint: Import Payroll Elements. We have introduced a new endpoint that replaces the import compensations endpoint. This new endpoint provides more flexibility, allowing you to import compensations and other payroll elements like time worked. This enhancement enables seamless integration of various data tracked in your platform. While the old endpoint is deprecated, it will continue to operate until all migrations are completed.
New Paystream Operation: Replacement. We have expanded our streaming APIs to support a new use case, allowing you to send instructions to replace a set of worker compensation entries for a given period. Combined with webhook notifications, this feature enables the synchronization of payroll inputs in your platform with a single API call.
Improved UI for collecting Canadian Bank Accounts. We have enhanced the collection process for Canadian bank accounts by explicitly displaying the financial institution number and the branch transit number. This split format is familiar to users, as it is commonly seen on Canadian bank statements and checks, making it intuitive and reducing cognitive load. This update aligns with our commitment to providing an optimized embedded payroll experience that delights employers and reduces contacts for customer support teams.
Stay ahead with these powerful updates designed to streamline payroll operations and enhance employers' experience. Explore these features today and elevate your payroll product to new heights!
