When It’s Time to Review Employee Payroll Software
Businesses small and large struggle with payroll, whether they lack the time and staff to process payroll well or have entire payroll departments dedicated to data and processing, but lack efficiency. Employee payroll issues such as legal compliance, securing payroll data, and accurate and timely processing are just a few of the challenges they face, especially with manual payroll processes. When it seems that payroll requires many manual processes prior to and after processing, it’s time to look at payroll software options.
What to Look For
To find the best system for their companies, businesses need to consider the number of employees they have now (and expect to have in the next three to five years) and what they want the software to do. Usually, as a company grows, they need more advanced tools to manage their growing workforce.
In addition to generating payroll checks for all types of employees, a complete employee payroll software application should be able to do the following:
- Track time, employee history and performance
- Store and manage employee data
- Transfer financial information to the general ledger
- Track and transfer payroll tax records
- Provide pay stubs online
- Manage and print payroll documents (e.g. paychecks and reports)
- Provide remote access
- Include tax service
- Process certified payroll
- Offer a payroll calculator
- Provide multiple pay options
- Create flexible reporting
- Provide paperless solutions
- Integrate with company systems
Better Payroll Software
Finding the best payroll company for employee payroll software can dramatically improve time, ease, and accuracy of payroll processing. Newer software can provide the functionality businesses need to move manual processes to automated and integrated workforce solutions.
Using technology to automate payroll administration improves payroll accuracy and reduces processing time. Not only does employee payroll software manage wages, taxes, reporting data and W-2’s, but a quality software will also manage employee paperwork, assist with performance reviews, establish workflows for processes, and provide a single portal for benefits administration.
Automated and improved employee payroll software helps more than the bottom line. It also supports employee engagement by empowering employees to take charge of their own information. Employees can update key information about themselves, access messages and important bulletins from their employers, and participate more actively in benefits selection and enrollment.
Business owners should look at the pricing structure of the payroll software and online payroll services they are considering to ensure they understand how they will be billed. Some employee payroll software is priced by the number of active employees, while others are priced per payroll, per check, or per service.
How to Implement
When implementing a new solution, training on how to properly use the software and ongoing assistance is vital. A trial period or side-by-side processing for a few pay periods before finalizing implementation gives users time to learn the system with a safety net, and the ability to spot any problems or deficiencies.
Learn more about the employee payroll software that PAYDAY implements that enables you utilize all of these features, as well as provide you with a dedicated representative to be there to guide you through the process and be your support.