Is Your Small Business Payroll Tax Software Set Up to Handle the Changes in 2015? Here’s How to Find Out

Posted January 13, 2015 by Layne Davlin
small business payroll tax software

What do you need in small business payroll tax software for 2015?

Small business payroll tax software can help cut expenses, prevent penalties, and create efficient office practices. The question is, is the software you’re using ready to tackle 2015? Look for the following when evaluating whether or not you need an upgrade:

1. Wizards do the work.

Modern small business payroll tax software will provide users with the easiest setup possible, including updating to cover five major changes in payroll taking place in 2015. Know that if your software solution hasn’t changed the way the following are handled, you need an immediate upgrade:

  • Employee withholding
  • SUTA wages
  • FUTA credits
  • FICA rates, and
  • Affordable Care Act guidelines

In addition, wizards can help with establishing new employee records, new databases and a number of related features. They’re especially helpful in two areas: quickly inputting information and, due to automation, cutting back on clerical errors. When compatible with your other computer programs, these wizards can often be used to seamlessly merge new employees or changes in information with multiple records on multiple platforms.

2. Make changes over a mobile device.

For HR professionals who aren’t in the office, having the ability to access payroll accounts through mobile device can speed up record changes. Decisions made in the field or at odd hours can be acted on immediately. This is especially important in minimizing payroll and taxation errors, which can lead to large fines. Protection comes in all types of packages. In today’s economy, mobile access is an important element in your arsenal against regulation violations.

In addition, when allowed, employees can make changes to and view their payroll information from any device. From checking sick days to changing home addresses, mobile access helps workers feel more in control. Studies show this is a powerful element in keeping employees happy, a trait that can save your company tens of thousands of dollars over the long-haul.

3. Schedule, submit and track payments.

The newest technology includes barebones programs and those with advanced feature like paper and online check tracking, regularly scheduled payments and submitting bulk or individual payments. Look for a comprehensive payroll system capable of covering all the bases—from salary and hourly workers to those who receive bonuses, as well as bulk payments to vendors, fringe benefits and gifts counted as compensation and other payroll entries whose mismanagement are often the cause of IRS fines.

4. Import and export data in multiple file types.

Compatibility is big business today, when companies often use a slew of software to manage their records. Many times these systems can tie into each other, helping to reduce time spent on paperwork and the risk of error. Make sure your payroll system can export and import the types of files you need. The savings you’ll get from a program disappear quickly when the results of reports need to be transferred to another solution by hand.

5. Permit employees to manage basic information.

Employee self-service is catching on quickly, and it’s especially helpful in terms of payroll issues. Instead of forcing your HR staff to use their time switching bank accounts for direct deposit or changing addresses, you can allow all of your workers the responsibility for their own account management. It allows your specialized workers to focus on more pressing matters while still ensuring everyone’s pay is delivered efficiently.

Is your small business payroll tax software performing up to 2015 standards? If not, get expert advice before it’s too late. Click or call 770-962-1700 to speak with Einstein HR professionals about affordable, effective payroll solutions.