Managing payroll is no child’s play. It requires you to have a lot of knowledge of government rules and regulations; you also need to coordinate with multiple people to get the job done. Though the job of payroll executives has steadily been on the decline, there are still many companies that rely on skilled professionals to man their paystub maker and paystub generator.
For most companies, finding someone who is well-versed in payroll taxes is not easily available. That’s why most small businesses are opting for payroll software where they can check stub makers and automate the entire payroll process.
If you are searching for the right payroll software, here are some features that it should contain-
If you are buying software, you should be able to use it out-of-the-box. The software should contain an easy-to-understand software setup wizard which can help you install it and use it without needing anyone’s help.
Accuracy in Tax Filings and Deposits
Your payroll system should be able to automatically deduct taxes and file claims as and when needed. This saves a hell lot of time and money while also making things super-efficient. The payroll software should be able to handle all federal, local, and state payroll collections, remittances, and filings while also making it possible for you to fill the w2 form online as and when needed. Moreover, the software should be able to update itself with any kind of regulatory change that comes into the picture from the government’s end.
The software should be able to directly deposit money related to the payroll taxes. For this, you will have to enter the relevant bank account details and make the necessary changes to make this possible. The website should have proper checks and balances in place to ensure there is no chance of mistakes.
The payroll software should be able to generate all kinds of payroll reports as and when needed. This includes the employee register, payroll details, payroll tax liabilities, each employees’ form w-2, and w-3, and much more. Additionally, the software should also help you make reports on tax filings, tax collections, and tax deposits.
A payroll system cannot work independently, it should be able to calculate employees’ wages based on timesheets, HR software, and various other options. The payroll software should integrate seamlessly with your firm’s accounting software, HR software, time and attendance software, and worker’s compensation software. Even if one of these integrations is missing, it can be quite challenging to get the payroll done in time.
The payroll software should have an employee self-service portal where employees can download their personal information, pay stubs and review the benefits that they will get. When all of this is automated, the payroll department does not need to worry about issuing these documents and spending time collecting these details.
You should choose a payroll software provider that can heed your complaints whenever you have one. You shouldn’t wait for the company to reply to your emails. Instead, you should choose a company that solves problems via live chat and call whenever needed.