How to Choose a Payroll Software for Your Small Business
By Space Coast Daily // March 25, 2021
So, you used to have just 3 employees, but now your business has expanded to 12 employees. Everything that might have worked when it was just you and three others might not work again. One of those things that need to be handled better is your payroll system.
Using a manual payroll system can only work for 3-5 people max because the job is stressful. By adopting payroll software, you get rid of the stress associated with a manual payroll system.
A Payroll software provides effective solutions to any problem that the HR department of your might encounter.Hence, if you’re looking to be above the competition, consider recruiting and using payroll software.
Identifying the fact that you need payroll software is one thing, finding the best software is another hassle. Well, no need to look further, like tips on how to find the best payroll software for your business is discussed below.
Features to look out for in payroll software
First of all, you have to identify all your business’s needs concerning payroll. After which you need to ask yourself certain questions like, can this app cater to all the business needs? And can it cater to my business size? The answers to these questions will help put things in a better perspective.
Written below are some features to look out for in any payroll software.
Well-paid employees are the most efficient and effective workers. A payroll system that enables your business to make multiple payments at the same time is a good one. This feature is important because it reduces the financial stress of your employees to the barest minimum. With it, payments can now be made weekly, biweekly, monthly, or yearly with ease.
Precise and accurate calculations
Payroll software eradicates one of the most obvious downsides of manual payroll systems. The downside is errors in calculations. Knowing that we are humans and can’t always get it right, AI has offered us perfection.
With this feature, all calculations can be processed with the app without any stress. Bonuses, holiday pay, compensation, and so on can be calculated with ease.
Reporting is a feature that all payroll apps should have. This feature enables the management of your business to access employees and general business reports.
Once the platform has been set-up to have custom reporting, ad-hoc reports requested by business owners/managers are made available with ease. This feature saves time and leaves room for management to focus on other things. One thing you should look out for in this feature is that it is not complicated to use.
This feature will save you from any trouble with the IRS. It helps your business to calculate accurate taxes. Make sure that the platform recognizes and effects changes according to IRS and EEOC standards. Their regulations are always changing, and if the app can’t keep up, it might result in something bigger.
Fear of employee and business information getting into the wrong hands reduces. An effective payroll Platform stores all business information in the cloud for protection and can only be accessed by people with a password or code.
Best payroll software for small businesses
To get you started and limit your search; here are five of my best payroll software for small businesses.
■ Gusto: This software offers solutions at a cheap rate of $19, and it increases based on the payroll services you want.
■ Patriot’s: This app also offers complete payroll services. Their prices start from $25 and increase based on the number of employees.
■ UZIO: This platform has a free 30 days trial period. It offers a complete payroll service starting at just $4.5 per month per employee. . With UZIO, small businesses are offered world-class payroll services.
■ Intuit: This software is a small business payroll software that provides complete payroll services. The amount of services you require determines the price for their services.
■ Onpay: This app has a simple setup, and is very easy to navigate. It offers complete payroll services and charges from $36 upwards.
The world is becoming digitized and your business should not be left behind. Using the tips above, take your time to research your choice. Good payroll software will always be worth the investment. Just make sure to choose one that is affordable, easy to use, and offers full payroll services.