Critical Features That Small Business Payroll Systems Must Have
Small business payroll software is certainly worth the investment courtesy of the numerous functions it supports. Many payroll operations and undertakings are automated with this software, for example self-service for employees, direct deposit, and state/federal tax processing. Let’s look at such payroll software functions in detail:
Computation of Taxes
A good payroll system should have no problem facilitating the computation of local, state, and federal taxes. Using such a feature, you don’t have to deal with tedious tax charts every time you’re paying your staff, or use big bucks on hired accounts to compute payroll taxes for your small company. If you need to hold back and deposit taxes, payroll software can simplify the process as well as minimize errors.
Worker Onboarding Portal
You can select a paycheck solution that comes with a self-service employee portal. The portal enables workers to supply certain payroll information that’s important to computations. Employees can also access the system and review or print their payroll history. Depending on system permissions granted, change of information is possible, such as on withholding and banking. It’s guaranteed that the onboarding feature will give your employees much needed transparency on any matter related to payroll calculations, but equally critical, you too will appreciate that you won’t have to deal with daunting paper filings which needlessly consumes time.
Several Payment Options
The need to upgrade to a payroll platform becomes an instant necessity when you think about the complexities of making salary payments each week or month! Once you upgrade your platform, you’ll be able to make electronic salary payments, which you can do via direct deposit. One major advantage of direct deposit is that, through it, you may wire employees’ earnings directly to their bank accounts without necessarily generating and handing out paychecks. Pay cards are also electronic payment options that a payroll solution can support. To employees, pay cards work pretty much like any other debit cards–so your role is to add salaries to their respective pay cards. Don’t forget that payroll software can also let you print paychecks directly using a supported feature, eliminating the need to use a separate solution or hand write the paychecks.
Technical support from the creator of your payroll software will be very important as you learn to set it up and use it. In case there are answers you seek concerning how to apply the software, these should come meaningful and timely each and every time. Thus, inquire if your payroll system developer provides customer service agents whom you may contact by phone, email, or online chat for guidance through the upgrade and also concerning future user issues. Definitely, small business paycheck software will justify its costs!