5 Ways Payroll Software Programs Will Impact Your Business
How can payroll software programs make your job faster and easier?
Payroll software programs go the extra mile when it comes to simplifying business tasks. From the moment you hire new employees until their last day on the job, you can save time and headaches by automating many payroll processes.
Here are a few of the biggest benefits payroll software programs provide:
Benefit #1: New Hire Services Make Adding to Your Team a Snap.
Setting employees up in your software systems can be a tedious time suck. Think of all the information you have to submit repeatedly, and then there are the forms you can’t forget to fill out. If you dread this job as much as most businesses do, you’ll love the latest payroll software programs, using wizards to set up new employee information, and then share it across your entire business suite.
Benefit #2: Benefit Management Programs Lighten the Load.
The best programs introduce employee self-services into benefit management programs, allowing workers to check their remaining vacation days or change their insurance beneficiaries without taking your HR staff away from more significant tasks.
Benefit #3: Garnishments Support Eases a Heavy Burden
Use your payroll software to remove child support, tax debts and other garnishments from employee pay, and send them where they need to go. A variety of programs can automate this process, making it so simple it no longer wastes your HR team’s valuable time and attention. An added benefit, now you can improve worker morale and help cut back on family drama on the job with reliable specialty payment processing.
Benefit #4: Error-Free Workers’ Compensation Payments and Reporting Saves Money.
Improper filing is a big problem for businesses of all sizes. You can use software products to help keep you on track, and it pays off. Fines can start at $1000 per infraction, which quickly pile up. In addition, the right payroll software programs will do a better job of estimating worker’s comp fees. This means you won’t be facing big balances at the end of contracts, or tying up necessary capital in coverage you don’t need throughout the year.
Benefit #5: Accurate Payroll Tax Filing and Payments Avoid Penalties.
According to the IRS, nearly half of all small and medium businesses are fined every year for improper tax filing. They send the wrong forms, send them at the wrong times, or pay less than they really owe. This results in many headaches for the government and for business owners; and fines aren’t insignificant. The average penalty is over $800. The right payroll software can accurately tally how much you own, remind you of important filing dates, and help you select the correct forms.
Your business can benefit from updated payroll software programs in any number of ways. Companies like Einstein HR can help you create customized solutions for the issues your staff is spending too much effort on or having the most problems with. Paperwork shouldn’t be a struggle, and it won’t be once you have the right tools for the job.