4 Reasons to Switch to Payroll Software from a Manual Payroll System
you’re starting a business, you might get away with managing payroll from a
simple Excel spreadsheet (especially if you’re the only one working for the
company). But things get a bit more complicated – not to mention time-consuming
– once you start hiring employees. That’s because the Department of Labor has certain
laws in place that require you, as an employer, to process payroll.
you don’t withhold the right amount of state and federal taxes, you could be
penalized. If you miscalculate wages or fail to provide paychecks on time, you
could lose valuable employees and gain a bad reputation in your field or
fact is, you’re spending too much time managing your business if you’re having
to manually processing payroll. Here are four ways using a payroll system can
help you take back some of those hours in your workweek and focus more on
growing your small business.
1. Better Time Management
than having to mine emails or review paper timecards to calculate hours, a
payroll service can provide a centralized hub of information that automatically
syncs with a payroll run. This can save you hours of time and offer significant
convenience to your employees.
as simple as illegible handwriting on a timecard, a lack of receipts for
expenses, or incomplete paperwork for withholdings can slow the payroll
process. But a digital payroll system, where employees can enter their own
banking and contact information, can save time and reduce the possibility for
human error by completely removing you as the middleman. Instead, your employees
are responsible for ensuring that their own data is accurate.
4. Employee Portal
When employees have access to a payroll and HR system, they are able to input their own data, thereby eliminating the need for a designated HR specialist or manager to do so on their behalf. And if you need to share information with your entire staff or just one individual, the employee portal provides a place for you to store documents and communicate
Workful’s Payroll & Employee Management Software
running your payroll in less than 5 minutes sounds impossible, it’s not.
Workful has developed online payroll software that can
help small business owners approve time off requests, make time clock
adjustments, and run payroll as many times as they desire. What’s more, our all-in-one
solutions allows you to create, view and print reports plus calculate wages and
taxes. Sign up for a free 30-day trial and see all
the ways Workful can benefit your small business.