Many businesses still take care of payroll in-house, usually in the HR department. It may seem like the easiest and cheapest way to go, but the time you are losing by doing payroll in-house is costing you money, too — as can mistakes in payroll. If you’re processing payroll manually, whatever the size of your business, valuable time goes into that task.
In fact, your HR employees could spend doing other high-value tasks for your business. Furthermore, your employees handling payroll may not be up-to-the-minute on payroll taxes and regulations, which could lead to real trouble in your company’s future. Employee online payroll can solve all of these problems at once.
Why Use Online Employee Payroll?
With online employee payroll, you can be assured not only that all regulations are met; you will also enjoy a clear record of attendance and hours just as if you were still handling the process manually. Giving the responsibility of payroll over to a third party may make you feel uncertain at first; however, rest assured that many payroll companies have been handling these matters for a long time and can help expertly and efficiently.
Depending on the employee online payroll you choose, you can have employees clock in and out through the system, making it easy for the system to handle payroll when the time comes. Of course, these systems also accommodate salaried workers who don’t need to clock in and out, and can track their vacation and personal days both as they accrue and as they are used.
Employee online payroll is a sensible solution for businesses of all sizes, whether big or small. After all, these issues are not limited, either too large corporations or small, locally owned shops. Compliance applies to whether a business employs 50 or 1,000 people. Not to mention, time is a valuable commodity in every business; you cannot afford to spend it on processes that could take just a couple minutes with the right software.
Gain Time and Peace of Mind
Employee online payroll removes a heavy burden from the HR staff, allowing them to focus on other matters. For businesses small enough that the owner does payroll, having more time is perhaps even more crucial; there are certainly other things a business owner could be doing with the time it takes to handle payroll and all the associated regulations, record-keeping and tax payments. This is especially true if no one on staff is specially equipped to handle these issues.
Payroll taxes are easy with online employee payroll. The software simply determines what to deduct based on current regulations and ensures the company pays it. This is a far cry from the manual calculation, where things can go wrong and employees can be a bit behind in their understanding of best practices and current requirements. A big enough mistake in payroll taxes or other deductions like child support can severely harm or even close a business — and online employee payroll simply does not make those mistakes.