| Many businesses start out by paying employees | | | | time consuming process, especially as your |
| by hand. As a business grows, so does the | | | | number of employees grows. Most payroll |
| number of employees, and along with those | | | | software programs will have the tax calculations |
| employees comes a growing variety of payroll | | | | you need already built into the system, so rather |
| needs. Managing earnings like paid time off, wage | | | | than calculating each employee's tax by hand, you |
| garnishment, overtime calculations, and a host of | | | | simply run a report for the tax form you need, |
| other options can become complex and nearly | | | | and the information will be generated directly |
| impossible to manage on paper. Enter: payroll | | | | from the pay that you have entered into the |
| software. Are you ready to say good bye to the | | | | system. Some programs even offer complete |
| long green sheets and manually processing payroll, | | | | online filing "eFiling" capabilities, so that nothing |
| for a long-term solution that can streamline your | | | | needs to be printed, and the process is completed |
| payroll processes and save you time and lots of | | | | electronically, saving you money on costly forms, |
| headaches? This article may just help you make | | | | envelopes, stamps, and most importantly, your |
| your decision. | | | | valuable time. |
| Tracking pay and deductions | | | | Support |
| Keeping track of pay and deduction types can | | | | Processing payroll by hand means you are going it |
| become difficult as a business grows. Each | | | | alone, and have nobody to turn to when you |
| employee has their own set of specific needs: | | | | have questions about payroll processing. This is a |
| hourly or salaried, regular or overtime hours, 401K | | | | major advantage offered by most payroll |
| participation or not, and these are just for | | | | software companies! Support services are |
| starters! If you are tracking this information by | | | | offered to customers, so a source is available |
| hand, it becomes hard to know if what you have | | | | when questions or problems arise. This is |
| written down is the most current. A software | | | | especially helpful when there is a time crunch for |
| system keeps track of this information with | | | | completing your payroll! |
| codes; each employee is linked to a code that fits | | | | Switching from hand-processing to a software |
| how they are paid. This way you can be sure | | | | program sounds daunting, but the majority of |
| that the employee gets that pay or deduction | | | | people are pleasantly surprised to learn how much |
| type, and when payday comes, pay entry is a | | | | time can be saved and how accuracy is increased |
| snap because calculations are done automatically | | | | after implementing a good payroll software |
| behind the scenes, providing a fast and accurate | | | | program. To make the transition easier, create a |
| pay process. | | | | plan for your switch, including a time-line and all |
| Tax payments | | | | the necessary steps. And when it comes time to |
| If you are worried about your payroll tax | | | | make the switch, be sure to use all the help |
| payments being timely and accurate, this may be | | | | provided by your new software provider. You will |
| a sign that it is time to automate the process. | | | | be glad you did! |
| Calculating these payments is a very complex and | | | | |