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Can Online Payroll Software Really Reduce Deadline Stress?
Ready to move up from manual payrolls or from an expensive payroll service? One fast way to do that is to buy your own payroll software. There's a cost to owning software though. You must learn how to use the system and then you must keep updating it. Updating payroll software is essential since payroll rules keep changing. Another option you may consider is online payroll software. Here's what you gain.
Updates By Them.
Stop worrying about software updates. The online payroll people stay busy keeping all the tables and calculations changed to meet the rules. You know just keeping up with changes is a full time job for some people. Who has the time for that? Even if you have purchased software, you most likely are going to need a service just to keep you updated about what to do. Remember, somebody has to keep all the state tax tables updated too. That's either you or somebody else. It's easier if it's somebody else.
Filed By Them Too.
An online service makes electronic tax filing really easy too. That's one less thing to worry about too. Maybe a lot more than one less thing. Don't forget about state tax returns too. Then you can include online tax payments too and eliminate more steps and more chances for errors and mistakes. See you get a more streamlined payroll system by eliminating several steps and in effect outsourcing a good part of the payroll process. That's freeing up somebody to do more important work than worrying about filling out forms and keeping up with those forms and getting them in the mail.
Checks and Deposits.
Integrated with all this you get your payroll checks prepared and ready to print out. Why you can even set up for direct deposit for your employees too. That's a benefit many people like. But you want more than just the preparation of checks.
Integration With Other Software.
You can get a service that just does payroll check preparation. You probably want much more than that. You want a service that exports data to your main accounting software so there is no need to do any kind of double entering of data. Especially if you use one of the major software packages like Quickbooks or Peachtree, make sure the payroll system integrates well with whatever software you have. That way everything goes together and all the costs and disbursements go right where they need to be. That's the way you want it.
You really can make payroll days go easier and faster with online payroll software. Now owning your own software gets you many advantages, but maintaining the software isn't free or easy either. It's going to cost you. It may be that it's cheaper to just let someone else handle much of the updating and maintenance. Use an Internet service as a tool to eliminate waste and spend more time on more productive work. That's the way to avoid many of the hassles of those payroll days that seem to come just one right after the other in a never ending stream.
About the Author:
Al Bullington is a CPA(retired) who also spent 15 years as a project manager
with Fortune 500 companies. His main work focus now is small business
Payroll Best Practices