What to Look For in Small Business Payroll Software
As a small business owner, you don’t necessarily need a software package for payroll. If you are willing to spend hours on performing mundane and boring tasks and doing endless calculations that is. Calculations, moreover, that need to be perfectly accurate, if you wish to avoid endless hassles with employees and the government alike.
So what can you do to make life simpler? Well, the right small business payroll software can make a lot of difference to your daily routine.
Small business payroll software packages are usually quite user friendly. One of these programs can greatly cut down the time you spend on payroll related tasks everyday, and can help you cut costs as well. Rather than engage a person solely for the purpose of looking after salaries, or hiring a firm to outsource to, a simple payroll program with the features you need can be bought and installed at a fraction of the cost. Most such software is not very obscure, and you can easily learn your way around it.
There is another advantage that small business payroll software has over an outsourced payroll service. You keep control and ownership of the data. A hosted payroll solution online or an outsourcing firm takes your data from you, and provides you with payroll services. The software, on the other hand, is a one time buy, downloaded to your computer, so that you can set up your own payroll database. There is no danger of your business information being misused in any way whatsoever.
All you need to do is decide what your needs are, pinpoint the features you need, and find a small business payroll software package that offers those features at the right price. Alternatively, you can choose to buy a full-featured payroll package that can do all your payroll tasks. Some even offer combined accounting and payroll packages.
The right software will automatically make such calculations as employee earnings, taxes to be deducted, other deductions, net pay and so on. Many packages even offer you the option of creating custom payroll items so that you have total control of your payroll workflow.
Depending on what your needs are you might want to choose a program that allows you to print your own payroll checks and pay stubs at the click of a button. Look for programs that will allow you to create, print, save, and e-mail tax detail documents or payroll tax forms like 941, 940, W2 and others.
When buying a small business software package, make sure the company has a reputation for providing good after sale technical support. Also look for one that offers a periodic update facility that keeps your software updated with the latest changes in taxation norms and other issues.
A payroll software package can work wonders for your small business, and can keep pace as your business grows and expands. Do some research, find out what you need, check demos and user reviews, and choose wisely.