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Thread: Payroll Software Options for Your Business:

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  1. #1
    Join Date
    Jul 2010
    Posts
    17

    Payroll Software Options for Your Business:

    Your company’s payroll plays an important role in the life of your business. If you can't pay your employees correctly and on time, it seriously impedes your ability to do business. And the government expects you to pay payroll taxes accurately and on time as well, and will fine you for problems that occur. Payroll can be further complicated by Social Security and Medicare deductions, state and local taxes, unemployment insurance, retirement plans, health insurance, and other payments. So while you may be able to neglect other areas of your bookkeeping from time to time, you can't afford to get behind on your payroll responsibilities.

    While

    some businesses prefer to outsource their payroll function to companies that specialize in that area, many business owners still prefer to process payroll internally. If you intend to handle your payroll yourself, you will find no shortage of payroll software programs that will make the task easier. Just as every business is different and unique, every payroll software program has different features and designs.

    So how do you select the right payroll software package for your business? Find out as much information as you possibly can about the various software programs on the market. Ask associates and other business owners which programs they are using, and if they recommend them. When evaluating the various software programs, ask these questions to help ensure you select the right one:

    1. Are the instructions written so that a novice will understand them and know exactly how to use the program? In other words, if you had to replace your payroll coordinator, would the new person be able to take over quickly?
    2. Are the menu options readily available on each screen, and displayed in a logical sequence for ease of use?
    3. Is the program flexible? Can you change data that has already been processed? Can you change such things as withholding rates, or do you have to pay an outside vendor to make those changes?
    4. Will the payroll software work with your other business software programs for accounting and management needs? Will it allow you to import and export data easily and quickly?
    5. Does the software have security features, such as passwords or user identification codes? Can it prevent unauthorized access to private information?
    6. What tech support options are offered? Does the software company have a good track record?
    7. How long has the software been around? Have new versions been released recently? Beware brand-new programs; many software programs are released with bugs and other problems.
    8. Will the program scale as your business grows, or are there limitations in the program?
    9. How long has the company been in business? Have there been any complaints against the company? What do other users of the program have to say about it?
    10. Does the program offer a 30-day trail option? Many companies will allow you to test-drive their software to make sure it meets your needs.

    When you find a software package that fits your company’s needs and price range, then go for it. But before you buy it, make sure that the employees who will be using the program have ample opportunity to offer input and concerns. And as your business continues to grow, make sure that your payroll software program can grow with it.

  2. #2
    Join Date
    Mar 2011
    Posts
    2
    Nice article. It explains the importance of the payroll solutions and helps to analyze the points to choose the best one.

  3. #3
    Thanks for your excellent article. I had used and heard about several tools for payroll or human resource management but most of them are just waste of time and money.

  4. #4
    Join Date
    May 2013
    Location
    Chennai, India
    Posts
    10

    OpenERP : HR & Payroll

    Quote Originally Posted by timesheet View Post
    Thanks for your excellent article. I had used and heard about several tools for payroll or human resource management but most of them are just waste of time and money.
    Have you tried HR & Payroll module of OpenERP? Its open source software available for anybody to download and use. It can be customised as required for business workflow and statutory compliance.

  5. #5
    Join Date
    Sep 2013
    Location
    mumbai
    Posts
    16
    Payroll is best software is created as per requirement. Its very helpfull to big companies.

  6. #6
    Join Date
    Apr 2015
    Posts
    8
    Hello Sahil,

    When the task of payroll processing is outsourced, then the businesses are able to save their mounting expenses as well as reduce the stress associated with it. Payroll processing is one of the most crucial parts of all the tasks performed and executed at any organization of any size. As compared to setting up an in-house payroll software india department, outsourcing the task is a wise decision that any organization takes. The potential of savings is huge in outsourcing, be it monetary or time-wise.
    Key highlights
     Simplifies the task of running the payroll processing system
     Fully managed service that helps reduce the stress of the business heads
     Flexibility in the finance management by payment of a miniscule fee
     Easy budgeting of the costs associated with the payroll

  7. #7
    Join Date
    Oct 2013
    Posts
    1
    I agree with you.

  8. #8
    Join Date
    Oct 2014
    Posts
    2
    Great article, very informative to those who don't know.

    As an accountant, I find payroll one of the worst jobs to deal with. If everything is not 100% right its all wrong.

    As a firm we use Moneysoft Payroll manager to service 800 clients payroll services. We've used them all and all have faults, this is the one I found staff have least problems dealing with.

  9. #9
    Great article! Thanks for sharing.

  10. #10
    Join Date
    Apr 2015
    Posts
    4
    Hey , thank you for this information .

  11. #11
    Join Date
    Apr 2015
    Posts
    8
    Nice Article...

    An automatic payroll management system helps you comply with legal and tax requirements and simplifies the process of paying your employees. Many employers outsource the payroll function to an outside vendor or use payroll system software instead of relying on manual processes.

  12. #12
    Join Date
    Apr 2015
    Location
    Australia
    Posts
    10
    Yes when it is payroll processing outsource you can save a lot from expenses.

  13. #13
    Join Date
    May 2015
    Posts
    240
    Inital time tracking tool, integrated with payroll and finance software which are in sync with HRMS to manage and document management system is the new requirement of any company. The necessity to so increased that manual logging in of these would ramp up the tension and burden on the teams. Running reports and real-time sync of data is a boon to everyone.

  14. #14
    Join Date
    Dec 2015
    Location
    USA
    Posts
    32

    Pay roll HR software

    It was informative. Think twice before you to install a software for small business.

  15. #15
    Join Date
    Jul 2019
    Posts
    1
    This makes sense. Though, I've found that doing payroll yourself is very easy when using software or any of the ones on the HMRC payroll software in the UK. In fact, given that the set up is pretty simple, and once you do the arduous stuff of ensuring you have all the details such as NI number, tax code, etc, I much rather use my own payroll software than rely on a third party accountant or book keeper. In the US, I've found gusto.com as really good and cost effective. I've not understood why business owners let other people outside of the company (such as HR or a finance person) deal with payroll rather than running cheaply themselves - if anything it is the added control you have over authorising payments which is great, especially when there is a good approval flow.

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