6 Qualities to Search for in a Payroll System
1. An easy-to-follow implementation procedure
The payroll provider you choose should instill trust in you from the start by outlining every step of the implementation process. Since they need company records to set up a system, a payroll supplier can’t manage the entire process.
2. User Interaction
Every product and service, including your payroll system, should be designed with the client in mind. The system should be simple to use and simple for everyone, rather than complicated to navigate and crammed with “features” you’ll never use.
Your payroll, HR, and time solutions should be able to communicate with one another, allowing you to manage worker data from multiple data sources without having to duplicate data entry. Look for a company that provides this type of integration through a single platform.
4. Self-Service for Employees
A new payroll system should not only be simple to use for your accounts team and managers; it should also take into account the demands and abilities of your employees. Not everyone, and certainly not the majority, will be a “power user.” You’re thinking about deploying a HR and Payroll system at work: to save time and money by automating some of your daily duties.
5. Tax-Preparation Services
Maintaining federal, state, and local tax compliance might be time-consuming, but it’s a crucial aspect of payroll processing. Payroll tax returns are filed on time, and W4s, W2s, and 1099s are processed appropriately. This decreases your company’s risk and can protect you from significant fines and penalties.
6. Information gathering and reporting
The new payroll system will be able to produce the reports you require promptly and efficiently. For instance, if the CFO wishes to examine your company’s total labor costs by region, you should be able to provide such information.