Payroll is a critical part of any business.
Payroll can be a major source of stress for a business owner. But, it doesn’t have to be if you pick the right software for it. That’s because payroll systems are specifically designed to help owners stay on top of their payments, ensure compliance standards are met and taxes are accounted for.
So, if you’re an owner that’s struggling with payroll on your own, we’ve compiled everything you need to know about picking the right system to help.
1. Evaluate Your Business Needs
Before picking a software program, take the time to consider what your company needs for payroll. For example, if employees are paid hourly and need to have overtime accounts for, it could make the process more complex compared to those that have salaried employees.
Further, the size of a company also matters, as having a large staff at different pay grades makes the process harder. In turn, resulting in owners needing a program that can accommodate a growing or shrinking size and multiple types of pay calculations. .
2. Consider Scalability
As a workforce expands, so too does its payroll needs. This means that owners who intend to grow their company (even if it is just seasonally) should consider a software system that can scale up or down to accommodate it. Otherwise, if the program cannot be adjusted, owners will need to source an entirely new one that does.
3. Test If Its Easy to Use
Any program that’s used for payroll should have a user-friendly interface. If it does not, time will be wasted struggling to use it and navigate its features. This will likely lead to frustration and mistakes that could have been avoided by picking a program that’s easier to use. So, be sure to test a system to see if you and your staff understand it without extensive training.
4. Think of Integration
Consider picking a software program that can be integrated with other business systems. For example, having HR records, bank accounts and calendars synced with payroll ensures nothing is being overlooked because information will be transferred directly from one system to another.
5. Ensure It Has Compliance Features
Having to keep track of all the federal and state payroll regulations can be time-consuming and confusing. To prevent confusion from slowing down your payroll process, ensure to pick a software program that complies with federal, state and local tax laws. It is important to note that these systems typically do have to comply with the laws, but be sure to double check that the one you pick does and will automatically update things like labor regulations, reporting requirements and tax laws. That way, it can flag you if something seems wrong on your reports so you can correct it before submitting.
6. Question Customer Support Options
It can be difficult to teach yourself an entirely new system which is why owners should consider a software program that has customer support. Some programs offer things like live chats and direct phone numbers to customer service representatives. However, others might only offer support by email or during limited hours. So, before committing to a program be sure to inquire about the kind of support they give or you could be stuck trying to solve technical issues on your own.
Ultimately, payroll can be an incredibly tedious task without the help of a software program. These programs track hours, payments, taxes and more, so that you can get back to running your company without having to worry about paperwork.
If you’re an owner that’s struggling to manage payroll on your own, consider learning more about programs that could help by giving us a call at 407-328-5001.
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