It doesn’t matter if the employer has five employees or fifty, payroll can be a real pain in the neck. Besides the fact that tax and payroll laws and regulations are constantly changing, typical payroll duties are very involved.
After all, in order to accurately calculate payroll, several things have to be considered. Regardless of the system used, payroll is a comprehensive and detailed process.
Five pointers for making the process a little less of a pain in the neck are described below. Keep in mind that the system used by your business should be chosen based on your particular needs and preferences.
Computing hourly salaries and overtime and supplement payments, plus calculating deductions like wage garnishments and payroll taxes, can be time-consuming and complicated. It’s no wonder that most businesses use time tracking software programs.
Not only do the programs help ensure that the paychecks will be on schedule and accurate, they can also help the company remain in compliance with tax and payroll laws and regulations.
Disputes over hours worked are not uncommon. Having a reliable time tracking system in place can provide peace of mind for all concerned.
Clearly, it is wise to automate as many payroll-related tasks as possible. There are lots of affordable ways to automate all or part of the payroll processes.
In-house payroll software programs are one option that should be considered.
Another great choice is web-based payroll programs.
And of course, there are payroll service providers that can take over the work of processing payroll for a business. These companies can do all or part of the payroll duties.
Choosing a Service or Program
When choosing a software program or a service provider, certain things should be kept in mind. First and foremost, the goal is for the business to grow. Therefore, the program should be scalable – it should allow for growth of the business.
It should also be kept in mind that one of the reasons the program is being purchased is for convenience and ease of use. Ideally the software will integrate seamlessly with other programs already in use in the Human Resources department.
This will allow the program to access information from other files, which can save an enormous amount of work. To further streamline payroll processes, look for programs/providers that offer self-service features.
That is, look for programs and providers that allow employees access to their own payroll information. This can eliminate the need for payroll staff to spend time on repetitive and routine tasks.
Consider the customer service provided by the software program or service provider. If you have a savvy payroll department, you may not need a lot of support. On the other hand, customer service may provide the help and support needed to keep the payroll running smoothly.
Having access to various reports will be extremely helpful in determining the growth cycles of the business. Many programs/providers can supply reports that can be used in various ways.
Streamlining payroll or any other business process saves times, which means the business can be more efficient. In the end, that also results in a financial savings for the business.
Debbie Allen, a professional freelance writer who frequently shares tips and ideas about online marketing strategies.
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