Last Updated on February 22, 2023 by admin
Payroll has lots of moving parts. It could be quite a bit, from collecting time cards to withholding taxes. To reduce the burden of payroll and allow more time to your schedule for other tasks, you might think about purchasing the payroll program you need. What types of features in a payroll system should you look for in your search for software? Check out the list of most essential payroll features and benefits to your business here.
Payroll system must-have features
Finding the right best payroll management system could be exhausting, particularly if you’re starting as an employer or don’t know much about the software platforms. Are you unsure of the features you should be looking for when searching for software? Keep these 7 features in your head (and on your list of priorities).
1. Simple to set up
A simplified payroll system could take the shape of:
If you’re a business owner, you know that the value of time is highly precious. So why do you need to invest hours establishing software? If you are looking to find payroll programs, search for one that provides a simple set-up.
- Free payroll set-up
- Importing capabilities
When you are researching payroll software companies check out their options for setting up. Do they offer the possibility for an outside party to set up your payroll account on your behalf? What are the experiences of having to establish a payroll accounts with them? You can ask these questions and read customer reviews to determine what other customers had to say about the set-up procedure.
2. Complete tax filings and deposits
One of the most prominent pain aspects of running payroll is handling tax withholdings on the payroll and filings. To simplify your payroll further, think about obtaining software with a feature that will handle the paperwork and deposits on your behalf (aka full-service payroll software).
If you’re looking for software that can handle the calculations and manages files, collects and also deposits payroll taxes in your name, search for a program that:
Manages federal, state, as well as local taxes on payroll (collecting and filing as well as paying)
Do year-end W-2 and W-3 files count?
Has been able to guarantee tax calculations that are accurate Deposits, filings, and tax calculations.
Does tax update software automatically automate the process?
Find out exactly what’s in the firm’s complete service package. In some instances, the company may not have to charge extra costs for year-end filing.
Suppose you’re not keen on getting full service to opt for essential payroll software. Then, compare aspects like cost, features, and reports.
3. Direct deposit
Presently, the direct deposit has become the norm in workplaces. Many companies have long passed the need for cash or checks on paper. If you’re like the majority of employers and employees, it’s likely that you (and the employees) probably prefer direct deposit, too. Therefore, when you’re searching for a software program, make sure you look into the options for direct deposit.
The majority of payroll firms offer one type of Direct Deposit option. Check out the following options when you are considering direct deposit:
- Options for timing (e.g., four-day)
- Additional charges
- Expedited direct deposit options (e.g., 2-day)
- Direct deposit limits
Also, make sure you check if the payroll software offers free direct deposit services. Find out from each company how much their direct deposit fees are and what fees are involved.
4. Payroll statements
Another thing you can add to your list is a robust quick, reliable, and easy-to-access payroll reports that are accurate and easy to access.
It’s not something you need to do is locate information on your payroll, only to search for it and not find the data you require. So instead of trying to make reports and collect information, search for software that can provide various reports you can access with a couple of clicks.
Find out whether the payroll company offers one of the reports below:
- Payroll details
- Check payment detail
- Payroll tax liabilities
- Forms W-2 and W-3
If you are using an all-inclusive payroll service that manages taxes and filings, ensure that you can access your reports for:
- Tax collection
- Tax deposits
- Tax forms
Learn how to divide reports (e.g. the report is broken down for employees). Then, find out what options allow you to try out the reports to determine how they function and look before making any decisions (e.g., an opportunity to try a no-cost trial).
5. Integration options
There are many things to take care of and manage payroll, including collecting timesheets and managing employee documentation and accounting duties. This is why you require payroll software that seamlessly connects to other platforms and software.
Here are a few things you could want to work with:
- Accounting software
- Software for time and attendance
- Software for HR
- Workers receive remuneration
Please look at other types of software they offer apart from payroll. This way, you’ll be able to manage all your applications under one login, and keep all your data together in one location.
6. Self-service for employees
Another feature to look for in a payroll software should be an employer self-service portal (bonus on the free version!). Self-service by employees (ESS) lets employees make changes to personal data, look up pay Stubs, and review their information about benefits.
With an ESS, employees will also access their W-2s from year-end to monitor their time cards and print information about their pay (e.g., the year-to-date report).
When looking for software, check whether or not they have an online portal, what it is (if there is any cost), and the software’s capabilities.
7. Top-notch support
Excellent support is an essential requirement when purchasing payroll software, particularly when you’re new to the payroll industry.
When you’re looking into support, think about factors such as the hours of operation, the location of the support staff, and the methods to reach them (e.g., telephone, email, or.). Find out if support is offered free or if a cost accompanies it.
Review the reviews to learn about others’ experiences with the support staff. If you notice more negative than positive reviews regarding the support provided by the company, then it might be better to take the opposite direction.
If you want to understand their support levels, try calling the company to ask questions about the payroll program. In this way, you’ll be able to determine for yourself how long it takes to speak to a representative and the level of their expertise.
As a payroll manager, you have many options for your payroll management software cause and how to run them. Software that can be secure in-house or cloud-based programs gives a good chance to run your payroll. But if you need to take full advantage, check out certain full-service options and a sequel. Automation will help you with several tasks in general; HRMS Automation will create it simple for you.