Four Reasons Why Small Business Payroll Software is Your Best Friend
How can small business payroll software help manage your first employees?
Small business payroll software may seem like a luxury, but did you know the IRS doled out nearly 7 million penalties last year for late or incorrect payroll tax payments? Avoid hefty fines and automate business processes by finding the best software to manage your employee income.
Here are just a few of the benefits you’ll get from upgrading to a specialized program:
- Calculate payroll correctly – Nearly half of all small businesses handle payroll accounting tasks with pen and paper. They don’t have any payroll software, let alone a version tailored specifically to the needs of a small employer.
If you have employees, you owe it to yourself and to them to keep accurate records. A software program for a small business like yours will provide everything needed to track taxes, benefits and regular disbursements. Go with a small business payroll software program you can update regularly to make sure you’re always in compliance with the law.
Don’t be part of the $4.5 billion collected by the IRS. Put your mind at ease, make the most of your efforts and avoid hefty fines by finding the right small business payroll software for your company.
- Save time with SMB payroll software – Switching to any program from doing things with pen and paper will save you time. However, switching to a program that caters specifically to small businesses will offer additional savings. You can save countless man-hours by not navigating through the elements you don’t need.
Business owners often avoid oversized programs meant for large corporations because of how complicated they are. Aim for software with room for the features you need, without the need for a huge learning curve. It will cut down on the time you need to spend on training and on daily use.
You can also save time with online payroll platforms. Because they’re updated regularly on a remote server, you don’t have to worry about your business being put on hold so you can update software stored on your own computers.
- Gain access to better employees by improving your employer brand – It’s hard for SMBs to compete with larger companies for the best workers in a field. The advantage often has little to do with budget. Bigger businesses know how to attract the right people.
Workers want their jobs to matter, and they enjoy a challenge. They do not want to waste time completing busywork. Present a progressive role where workers are provided with the latest, most effective tools so they can feel confident that they are making a real difference with their work.
- Focus more of your time on moneymaking activities. The biggest benefit to automation is having more time to spend on important tasks. Instead of inputting the same numbers week after week, you can boot up your small business payroll software and immediately save those hours! Instead, spend the time on other activities capable of driving profits.
Small business owners occasionally make the mistake of thinking they can take a relaxed approach to recordkeeping. Most of them end up paying a high price. Don’t get caught up in the trap when you have such easy solutions at your fingertips.
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