One of the most arduous tasks of an employer is ensuring employees are paid accurately and on time and within confines of both federal and national laws. The fact that your business is growing makes this even more complicated especially when you are handling it using a manual system. This is where payroll software comes in handy.
Cornerstone of Bookkeeping
A study published on Business Insider refers to payroll software as the cornerstone of business’s bookkeeping. Whether you are running a small or large operation this system enables you to save money, time taken in payroll management and comply with regulatory authorities.
These systems are versatile meaning that they ensure more efficient handling of payments without adding to operational costs. To get the most out of a payroll system you need to lookout for some of these functional features:
- Direct Deposit
Every employee values the convenience of direct deposits. It is an easy way to motivate your staff but more importantly this feature helps to reduce risks of fraud. In addition, this is a creative way to increase productivity in your payroll department. Simply put, direct deposit makes payment a seamless practice.
- Free Live Support
Reliable payroll software offers you technical support to ensure everything runs seamlessly on your end. This is more important when you have just started using the system as much learning has to be done. For instance, adding new employees requires technical expertise which you need to gather from the providers.
- Payroll Reporting
Most government agencies require detailed reports of your employees. More importantly, there are deductions that are supposed to be done every month. Credible payroll software must have this feature to allow for seamless deductions and reporting to federal agencies. Tax deductions, medical and social security deductions, benefits are just some of the critical aspects that this system helps you manage.
- Mobile Integration
Most employees work on the go and as such you might find it necessary to have payroll software that is optimized for smart phones. This makes it easier for your payroll managers to log in from anywhere and approve payments or carry out any other administrative task. Buying a system with no mobile integration is a step backward and if you have <a href= “https://www.1099-etc.com/advanced-micro-solutions-payroll-software/”>payroll problems, www.1099-ETC.com Software</a> offers the best solutions.
- Employee Self-Service Portal
With a few simple clicks your employees can manage their payroll data if the software you buy has an employee self-service portal. This helps streamlines data keeping especially where you have virtual teams spread across the globe. This also reduces employee complaint or back and forth communication between the HR and employees.
- Time Card Entry
This is another invaluable tool that enables you to handle payment issues without much strain. It provides flexibility as you collect payroll data and transmit it to the system. The best software comes with versatile timecard styles and easily integrates with any third party timecard applications.
- System Notifications and Alerts
When shopping for payroll software never overlook alerts and notifications. They enable you stay on schedule in payroll matters thus streamlining this payroll process. Alerts also help in employee retention by reminding you of their birthdays and other important anniversaries which you can then use as a way of improving relationships.
There is no denying that payroll software is one of the most ingenious methods of streamlining operations in your business. It is now time to buy the best.
Paul Whittaker is a business consultant with over 19 years experience in payroll management. He advises small business owners on trending innovations. If you have payroll problems, www.1099-ETC.com Software provides some of these invaluable features.