Improving your payroll systems? - What you should consider when choosing the best payroll software

Companies are increasingly using specialised payroll software to pay their employees thanks to its flexible administration, automated processes, and other benefits. Whether your business is hoping to simplify payroll and save money or make it easier to create advanced payroll reports, there are several factors to consider when choosing payroll software. Here is a closer look at four elements of a quality payroll solution.

Streamlined Process and Ease of Use:  When choosing payroll software it's important to evaluate the workflow. Does the software have options that automate and streamline the payroll process? Can payroll be processed and approved in just a few clicks or easily uploaded by your staff? Does the software package have functionality that enables employee self-service? Comprehensive payroll software solutions are the technological foundation of a streamlined, simple, and effective process.

Full Business Process Integration: Whether an in-house member of your team will handle the payroll processing each period or you're looking for a solution to bundle with outsourcing, it's also helpful to consider the bigger picture. Does the software that you're considering integrate easily with other essential software packages your business uses, from accounting programs to employee benefits programs, to recruiting and background check services for on boarding processes? The more integrated your business processes are, the less time you'll spend on administration and the more accurate your information will be.

Payroll Support: As you evaluate payroll software providers, it's important to ask what payroll support they have available to support your business. A payroll provider that offers a designated payroll specialist that serves as your point of contact may be the best choice for your business needs. Your contact can work with you to address your unique business needs, tax considerations, specialized payroll set up, and more. It's also helpful to have access to knowledgeable individuals who can assist with processes such as on boarding new employees. A designated payroll specialist gives you the confidence that payroll questions can be readily addressed, and that the payroll provider is a customer-oriented business.

On Line payroll Services: Online payroll services operate in the cloud and allow businesses to manage and run payroll from anywhere, anytime on your phone or tablet or laptop.

Mobility: As more small-business owners and human resource managers recognize the convenience of managing payroll and other administrative tasks on the go, the use of mobile payroll solutions will continue to increase in popularity and should be considered.

Payroll used to be a stressful, time-consuming task for small-business owners. Today, innovative technology and new payroll services have given business owners far more flexibility and control over how they manage and pay their workforce.

 On-line payroll services typically offer the following services: -

• Run Payroll: Calculate how much employees should be paid each pay period
• Payroll taxes: Calculate employee taxes, file quarterly payroll tax reports and pay tax in accordance with the correct revenue information. In addition, they issue weekly payslips and year end employee P60’s
• Report filing: Online payroll services complete all of the required reports  (P30’s ) that must be filed to Revenue
• New hires: Many services report new hires to Revenue for you
• Integration: Most on-line payroll services integrate with accounting software. This gives businesses the ability to keep more accurate financial records.
• Staff Holidays : Many online packages keep track of employee’s paid time off
• Benefits administration: Online payroll services offer tools to manage health insurance plans, pension contributions and monthly expenses

Customize to Your Unique Business Needs

Payroll software solutions that take a "one size fits all approach" are rarely a good investment. Today's regulatory environment, tax regulations, and employment situations are too diverse. Instead, it's important to choose software that can be customized to your unique business needs, whether that's accommodating different payroll schedules or supporting specialised tax reporting. A flexible software package will also scale with your business over time.

For more information contact Kevin O’Donnell on 053 9170507 or email kevin@rda.ie