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Back in time payroll used to be a completely back-breaking and cumbersome process.
Today, the software makes the difficult task of paying your people smooth and precise. These 10 must-have features should be priorities when evaluating solutions for your business.
1. Direct Deposit
Allow direct deposit to avoid paper checks for employees. Direct deposit means fast, safe delivery of payroll checks directly into personal bank accounts.
2. Tax Calculation
Federal, state, and local tax withholdings must be calculated per jurisdiction by payroll software. This ensures compliance and correct filings.
3. Custom Reporting
Robust reporting functions teach you about payroll costs, overtime expenditures, paid time off use, and other information in making data-driven decisions.
4. Employee Self-Service
With self-service payroll portals, remote and hourly workers can log hours or access information about their dollars on their schedules. This saves administrative hassles.
5. Time Tracking Integration
Synchronizing payroll data with time-tracking software keeps everything together in one system for reliability. No more manually entering hours.
6. Accounting Integration
By integrating payroll with your accounting system, not only does financial data move smoothly from one step to the next but there is no need for duplicate record-keeping.
7. Contractor Payments
In addition to employee W2 payments, the solution should easily handle 1099 contractor payouts and tax forms.
8. Reminders and Notifications
Automatically remind you and your software about filings, taxes due dates of pay runs so that you'll never be late.
9. Mobile Accessibility
Being able to access the solution anywhere and at any time through convenient, easy-to-use mobile apps is a big boon for payroll managers and employees.
10. Cloud Delivery
Such cloud-based payroll software not only gets around the installation painful, but it also allows a workforce remote access. Pick a secure, compliant option.
As payroll responsibilities get complex, easy-to-use yet powerful solutions are essential. For guidance in your buying decision use this list of top features. When evaluating modern payroll tools, is there anything else that you consider an indispensable function?
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