Hey there! In this article, you can learn about the multiple ways to add your hiring plan to Finmark to keep track of your payroll budget.
Adding Employee's One-by-One:
Start on the Employees Section:
Step 1: On the Employees page, click + Add New Employee
Step 2: Fill in the required fields:
Multiple Employee Upload
Follow these steps to add employees using the multiple employee upload option.
Step 1: Select +Add -> Multiple Employees. From here you will be prompted to download a pre-made Google Sheet Template that you can fill out with your employee details.
Step 2: After downloading the Google Sheet Template, you will be redirected to a Google Sheet Template. Review the instructions on Tab 1, shown below:
Steps | Instructions |
Step 1 | In your local copy, add employees to the "Upload" tab (Tab 2). Be sure to fill out all required fields. Required or Optional status is denoted in column headers. |
Step 2 | Once step #1 is complete, Press File -----> Download -----> Comma Separated Values (.csv, current sheet) to your local documents folder. Be sure to do this step while in the "Upload" tab. |
Step 3 | Continue with the "Add Multiple Employees" function within Finmark's Employee dashboard, uploading the CSV saved in Step #2 |
Notes: | The class column is optional unless you want to create a custom department. If you want to create a custom department you have to select a class from the dropdown. |
Step 3: Click Tab 2 labeled Upload to begin adding your employee details.
Fill in the required details such as;
Name
Class (Optional)
Departments
Job Title
Start Date (MM/DD/YYYY)
Annual Salary
Role Type
Benefits/Taxes Rate
Please note: If you are adding a contractor, leave the benefits and taxes rate blank.
Step 4: After adding all of your employees, go to File -> Download -> CSV
Step 5: Either drag and drop the downloaded CSV File or select to upload from your files, then click upload to complete the download.
If you’re unsure where to start, you can review our blog for best practices on hiring your first employees by clicking here.
How to Import from your Payroll Platform:
In Finmark, you can connect to a variety of commonly used payroll providers such as Gusto, Rippling, Justworks, and ADP. Finmark imports this data to populate the hiring plan and keep it up to date automatically. Saving you time from manually adding your employees, updating new hires, and the associated payroll costs.
It doesn't stop there. We built an engine that eliminates the need of mapping all of the computations like in excel. You can then create simple or dynamic hiring plans in just a few minutes in Finmark. Combining the power of actuals and forecast in one platform.
Connecting to your payroll
If you are running payroll with one of the supported payroll integrations, you can connect with Finmark to import your current and future employees during registration or in the settings section of Finmark.
Registration
2. Connect in settings
What to expect on the initial import?
Once you authorize the integration, we will update you in the app with our status banners. (See Below)
Data still importing (Can take up to 10-15 minutes to complete the initial import and mapping)
2. Import completed
What Next?
Navigate to the employee section, to review the imported records to add new employees into Finmark or choose to match them to existing employees.
Matching Employees
When matching, simply select the record you want to match and then finish.
Re-sync Payroll
Finmark syncs with your payroll provider daily automatically. If you've made employee changes with your payroll provider and would like them to be reflected on Finmark right away, you can manually re-sync your data. To do so, click on Sync Payroll in the settings to prompt the new sync manually.
If there are new employees added during a re-sync, we will prompt you to add them to your model or match them to an existing employee.
When a change is made to your payroll, it will also be reflected in Finmark. Your payroll changes will be updated across the entire model.
Adjusting the Load Multiplier
To set the benefits and tax rate for each employee, adjust the Load Multiplier on the employee record.
Navigate to Employees click +Add Employee. Adjust the Load Multiplier by setting it to the individual employee's actual benefits and tax rate.
If you're adding a Bulk Upload of employees. You can adjust the Load Multiplier by setting the employee as an FTE (Full Time Employee) and entering the Load Multiplier under the BenefitsPercentage (Optional) tab.
Note: If the employee is listed as Contractor, leave the BenefitsPercentage (Optional) tab blank.
To set your company’s benefits and tax rate, adjust the Load Multiplier:
Navigate to Settings and then set the Load Multiplier according to your actual benefits and tax rate.
2. Click Save.
Additional Resources: