4 Ways to Make the Payroll Process Much Easier

Payroll can be a great burden or an easy task depending on how you handle it. Unfortunately, many companies are stuck with their outdated method on processing payroll making the job stressful and time-consuming. Not to mention the employees waiting for the payday and the horrible IRS penalties. This time you really have to upgrade your payroll tools and resources to get things done in an efficient way. Check out the following to find out how.

Managing payroll.
For business owners, dealing with multiple tasks is an essential skill for most of the times. Unfortunately, as you take more tasks to be done just at the same time, more likely you get to compromise other important tasks. So, instead of managing your payroll by your own, why not save more time and focus more on core business by getting a payroll service provider. Payroll is a kind of administrative and back-office activities and these are not so essential to customers. By getting efficient payroll software, you will be relieved of the stress from paydays as well as reduce costs and minimize risks.

Tracking time.
Examining tremendous number of records and documents is a productive way in making payroll. On the other hand, this could be a formidable process. But you can make the process easier by removing this and choose a value-based system than per hour. For businesses that require recording time, automating timesheets can be used which can assist employees in in managing their schedules and to make sure that their timesheets are precise and updated.

Calculating accrual.
One of the factors that make determining payroll time consuming and costly is calculating and tracking vacation and absences of the employees. Nowadays, Netflix, Groupon, HubSpot and other companies are opting to an unlimited PTO policy. This policy makes payroll operations much easier, plus providing an open-ended access to vacations as reward and encourage employees.

Filing taxes.
The problem with filing taxes is that it consumes much time and resources and can give you possible penalties when not done correctly or late. Tax filing automation helps employers with the collection of important forms from their employees while making sure that forms are filled out completely and correctly. Moreover, tax filing automation also helps employers to comply with state and federal regulations.

Here’s to helping you better understand what’s in your pocket.

Until next time.