Choosing Your Payroll Software – Things to Watch Out For.
Any business that employees people will need a system in place to ease through the payroll process. You can either choose to do it yourself or outsource the work to a bookkeeper. If you decide to do it in-house, you need payroll software to do it more efficiently. You are here, so we assume you are doing it yourself and looking to purchase your payroll software. Here are the things you should know and consider before you make your decision.
Before you start the search for your payroll software, you should be familiar with the following things.
Features: The payroll solution you choose should not only handle your payroll and tax duties but also provide you with services like multiple payment and wage rates options, direct deposits, encumbrance tracking, and, most importantly, detailed reports on the payroll.
Usability: The payroll software you choose should be easy for you to get started on the go. Having an easy interface and simple operations to add employees to your payroll system is a must. You can’t afford to buy a software with complexions and make extra efforts to get trained for it.
Budget: Every business operated on a budget, and it’s crucial to find a payroll solution that fits right into it. Businesses that cannot afford an in-house payroll solution Denali Payroll and its upfront cost can opt for a subscription-based cloud solution. The choice between cloud and traditional software should be made based on how often you run your payroll and your budget.
Scalability: You should expect your service providers to scale up as you grow. Choosing a software that cannot fulfill your needs when you grow is a bad investment as you should reinvest when business outrun your old payroll software’s capabilities.
Integrations: Integration with the existing software you already use is another important aspect of choosing a new software for your business. You must select a payroll solution that can integrate well with the other applications you use for the HR management and attendance system.
Support: Being able to reach out for customer support around the clock is vital when choosing a solution provider. Asking for a dedicated support representative to help you in times of need can be a game-changer.
Downtime and Updates: If you choose a cloud-based payroll service, getting to know about the downtime is very important. Also, choosing a solution provider with frequent upgrades and add-ons can add value to your money.
Questions to ask your payroll provider
Are the tax tables updated?
Every time a new tax bill goes into effect, all payroll providers must update their tax tables. Ask your payroll provider if they’re doing it as soon as the new bill passes and if they can process different traditional state and federal income taxes.
Do they have clients in your industry?
Knowing about your payroll provider’s existing and past clients is essential. If they have clients belonging to your industry, it shows they have experience and the capabilities to handle payroll for a business like yours.
Can their service meet your business needs when you grow?
Ask your payroll provider how they will handle things if your business grows and adds more employees to the payroll. Share your vision and see if your payroll provider can cope with your business growth.
How secure is your payroll data?
Ask your payroll provider how do they secure your financial data. It is essential they have top-notch security to eliminate any potential threats as here we are dealing with bank account details, business-critical information, and personal details of employees.
Can they run payroll automatically?
Ask your payroll provider if they have an automated payroll process (Denali Payroll) once you initially set up everything with an option to preview and add special compensations like incentives and bonuses. This feature can significantly save much time for you, especially if you a large number of employees.