Payroll Software

Written by Serena Berger
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Payroll software can streamline the processing of payroll for all of your employees. This provides a viable alternative to outsourcing your payroll to a specialized service. It also allows you greater flexibility--you can maintain your own records, making it much easier to reimburse employees for business-related expenses.

If you have never done your own payroll, a software package can make the process extremely easy. It may be able to interface with your HR files so that you will not need to enter all the information into a new program. Also, many software packages include tax tables at the state and federal level so you do not need to perform calculations in order to make the appropriate deductions.

Payroll software can increase the efficiency of your company in many ways. Some payroll software modules will allow you to print your own checks or use direct deposit to pay your employees. This also allows you to reimburse employees quickly if they incur expenses on behalf of the company. When tax season roles around, your employees will not need to wait for someone to mail them their W-2 forms, as many packages will allow you to print these directly.

Using Payroll Software with a Payroll Provider

If you choose to use a payroll service, you can purchase software that will automatically provide the service with the information necessary to process payroll. This can save time for your administrative assistants--the burden will not fall on them to report hours to the service for each pay period. If an emergency comes up and someone is unable to send the report to the payroll service on time, it might mean that your employees will not receive their pay until the following pay period. Though they may be understanding of the situation that arose, using a software package minimizes the possibility of this happening, which makes everyone more comfortable.


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