If you’ve decided that payroll software is right for your small business, it’s time to figure out what kind will serve your needs the best. With so many options available, it can be difficult to decide which software to go with. But with a bit of careful consideration, you’ll be able to find a solution that covers all bases.
Here are some of the things that you should consider before committing to your software of choice:
Sometimes standard payroll software just isn’t enough and you need more variety and flexibility. Websites like Sage.com allow you to customise the software package you choose, meaning you can combine accounting with payroll and cashflow visibility. Equally, you can opt to focus solely on payroll if your accounting needs are already met elsewhere. It’s easy to swap and change later on as well, making it a great option for anyone whose business is always growing. Payroll services are crucial for any type of business operating in the U.S. With so many different payroll services on the market today, it might be difficult and overwhelming to know which one to pick. Click here to see TRUiC’s list of the top 6 best payroll services for business owners in America.
Is your chosen software compliant with legal regulations and tax rules? Ideally, you want your payroll to be up-to-date with the latest business guidelines to minimise your manual workload. Good software will calculate all your deductibles automatically, making payroll a convenient hands-off process for small business owners.
Your payroll software should be easy to use and intuitive to learn. If it’s filled with technical language, it may take a long time to understand and get to grips with, which is something your small business doesn’t need. Some payroll and accounting software is designed for accountants, which can make the inexperienced feel overwhelmed. Make sure your software of choice is for people with no accounting experience for the smoothest user experience.
If more than one person in your business needs access to your payroll, how easy is it for them to make changes? You may need to choose software that allows multiple users to log in and access different parts of your payroll. Some types of software even give your employees access to their individual profiles, allowing them to download payslips and documents. If staff can update their name and address through the same portal that saves you even more time and effort.
Sometimes software can be accessed through the internet, which is something that can benefit small business owners who move around a lot. If you’re away from the office or travelling, software that connects to the cloud can allow you to make changes while on the go. Make sure your software can be accessed on more than just the computer, this way you can connect your phone, laptop and tablet for even more convenient use.
Consider how much your business can afford to spend on your payroll solutions each month. While it’s an essential part of your operations, the most expensive solution might not be right for you. However, it is worth remembering that using software will almost always be cheaper than hiring an agency to organise your payroll for you. Therefore, it might not be a bad idea to spend a little bit extra to make sure your software is the best it can be.
Recommended for Entrepreneurs: Selecting your payroll software is as crucial as finding the right registered agent. Whether you have a Florida LLC or a Texas corporation, a registered agent will help your business to stay compliant.