What is payroll software and why does my business need it?

What is payroll software and why does my business need it?

Before you spend any more money on your payroll service, take a look at how much money you could save bringing your payroll in-house. No matter how big or small a business is hours upon hours can be spent managing the financial aspects of the company, including payroll.

Payroll particularly can be very time-consuming. There are so many issues to consider such as full-time hourly employees, part-time hourly employees, seasonal employees, salaried part-time employees and the list goes on and on.

Let us not forget the vacation pay, bonuses, direct deposit, manual checks, and then there are taxes!

No wonder utilizing a payroll service seems like such a great idea.

How much are you spending using payroll services?

Stop for one moment and look at how much money and time you spend using that payroll service. Most often, you keep all of the payroll records on-site, the daily postings, the hours each employee work, their vacation and sick pay information, and much more.

All of that information is entered, recorded and most likely the data is generated into a report. These reports are then sent to the payroll service so you can have checks made for payday or direct deposits set up.

Here are some things to look for when shopping around for payroll service software:

Flexibility

For you to benefit from using payroll software, you will want a system that can be flexible to handle your specific needs. There are many payroll software programs available in the market today; you can find standalone programs that you can use with your general ledger, or if possible, payroll software that fully integrates with an accounting system is even better.

Versatile, Easy Setup

The purpose of payroll service software is to save you processing time and money. Look for a program that has tools and wizards to help you easily set up your payroll software the right way. Software that gives you the ability to modify the reports you need and gives you the information you require.

Options.Options.Options.

Choose payroll service software that is capable of handling many aspects of payroll reporting, not just collecting information to print a check.

For instance;

  • software that can handle piecework pay
  • seasonal pay
  • shift differential pay

Hourly pay or even a combination of any of the payment above methods can save you significant time by doing the correct calculations for you.

Automated W-2, State, and Federal Forms

Processing time and money saved if your payroll software offers automated W-2 and State and Federal forms with e-filing. Data from your payroll automatically added to your required forms for fast e-filing or printing on plain paper. If possible, choose a full-service W-2 and 1099 fulfillment option as an added resource.

Technology

When choosing your payroll service software; look for software built with the newest technology like a Microsoft.NET Framework-based application. By doing so, it ensures the data security and reliability crucial for payroll data.

Experience, Expertise and Customer Care

Take care to look for a payroll service software company that is experienced in the development and has the knowledge necessary to create software that is easy to use and can handle your needs as you grow.

Finally, take a look at the support and customer care the product offers. Is there personal attention provided? When you call for telephone support, do you talk to a person and not a recorded auto attendant? Please contact payrollserviceaustralia.com.au if you have any questions or wish to know more about QuickBooks’ payroll software packages.