Discover the pros and cons of managing your payroll online and understand the benefits you should you look for when hiring a company to handle your payroll online. PayTech is an award winning payroll company here to list the benefits of managing your payroll online. We also offer offline payroll services should you feel that online is not the best option for your business.
Pros of Managing Your Payroll Online
Ask any administrator that handles payroll and they will tell you about the time consuming, energy zapping, often frustrating task of tracking, preparing, and executing payroll. To solve this problem there are many companies surfacing proclaiming they have the best payroll software online. But where do you start?
The best way to decide if you want to manage your payroll online is look at the pros and cons.
Paid On Time and Accurately
Have you ever had that sickening feeling when you left someone off payroll, paid them the wrong amount, or missed the deadline to submit payroll for direct deposit? It is a gut-wrenching problem.
The beauty of online payroll is that you have a dedicated payroll representative handling your payroll account. It’s like having an extra set of eyes on the books so you know that your employees and vendors are getting paid on time and accurately, your taxes are being filed correctly, and your numbers are reflecting properly in the books. A payroll representative is dedicated to making sure your payroll goes smoothly so you can spend time on the important stuff.
Helping Your Employees
One of the great benefits of managing your payroll online is the ease with which your employees can access their own information. You’re bound to receive questions from employees: How much is being taken out of my checks for taxes? Can I get a copy of my last 3 statements because I’m buying a house? Can I get a copy of my W2 from last year? Of course you want to help your employees; unfortunately answering these questions can often be time consuming which means you have less time to spend running your business.
With online payroll software your employees have access to all of their payroll information. They can access it when they want, as many times as they want, and wherever they have internet access. That means they get the info their are seeking quickly and leaves you free to focus on more pressing matters – that’s a true win-win!
Taxes are arguably the most frustrating part of payroll. The complex calculations, the variety of tax withholdings, the individualized percentages from employees – the process can be daunting, not to mention a time-drain. A professional online payroll company can automatically calculate and withhold the necessary taxes from each employee as well as your employer-level liabilities.
Further, a great payroll company should be able to set up a system to help you pay local, state, and federal taxes and file tax returns quarterly or annually. Our online systems also make it easy to create and provide staff-related tax documentation, such as forms W-2 and 1099. And, as mentioned above, these documents are easily accessed by you and your staff.
In order to process payroll you need a variety of confidential information from employees. You don’t want to give access to this info to any Joe-schmoe. PayTech is an award winning payroll company with state-of-the-art security interfacing. That means you can rest easy knowing your company’s and your employees’ private information is safe and protected.
Your online payroll services can be integrated with Quickbooks software, the most popular accounting software on the market. This gives you the ability to keep more accurate financial records, not to mention the time you’ll recover when you don’t have to manually enter these transactions.
The sophisticate integration also allows you to easily generate, print, and send a variety of reports and financial statements. Few things are easy in business, so this one is a big one in the pro column.
Online Payroll Benefits with PayTech
- Payroll Check
- Tax Service
- Standard Reports
- Check Signing
- Check Sealing / Insertion
- Delivery (Valley – Next Day)
- Garnishment Calculation
- Voids / Manual Checks
- Online Employer
- Pre-Process Review
- Ad Hoc Report Writer
- Write Choice Report Writer
- Company Logo on Checks
- Paperless Payroll
- Employee Self Service
- General Ledger Report
- QuickBooks Interface
- Standard 401(k) Report
- Electronic Reports
- Employee Self Service
- General Ledger Report
Payroll is the lifeblood of your business. Without it, let’s face it, your employees wouldn’t stick around no matter how much they love you, your company, and your product or service. They need to receive their money on time and accurately. And you need proper records, taxes filed, and more time to spend on growing your bottom line. Let us handle your payroll so you can turn a stressful task into a simple and easy one. Talk with one of our team members today.