When selecting among the best payroll service providers for your business, it is important to know what necessary features your business needs in a software tool. Payroll software is a powerful resource for small businesses because the program can replace the need for a payroll professional. This can save valuable resources for a company, especially small businesses.
However, not all payroll software providers offer the same functions. This guide will help you understand common features of the best payroll software and explain why AMS payroll software stands apart from other providers.
Key Features of the Best Payroll Service Providers
Payroll software covers all parts of the payroll process, from setting up employee files to transferring compensation numbers to year-end tax forms.
- Automated Payroll Deduction Calculations: Payroll tax deductions are the trickiest part of the payroll process. A payroll software does these calculations for you and can automatically generate the figures using the right federal, state, and local tax percentages. Not only does this save time, but the automation prevents human error.
- Check Preparation and Printing: Once you prepare all your payroll figures, the payroll software allows you to print payroll checks and prepare electronic statements. Some of your employees may prefer mailed checks, and some might want their checks via direct deposit. Your payroll software should help you submit the checks in both formats.
- Transfer to Tax Forms: A useful feature of payroll software is the ability to transfer employee compensation information to tax forms when tax season comes around. This feature saves you time and expedites the tax filing process.
- Compatible with Your Current Process: Payroll software should be compatible with programs like Excel or QuickBooks to make the transfer of payroll and accounting information seamless.
How Your Small Business Can Benefit from Payroll Software
The best payroll service providers make your payroll process easier and less of a burden. You can expect the following benefits when you invest in quality payroll software.
- Streamlined Payroll Process: Payroll software is easy to use, even for beginners, so you can improve your payroll process without having to hire a payroll professional.
- Keep in Good Standing with the IRS: The IRS has payroll tax reporting deadlines that employers need to meet. If you fail to meet these deadlines, you face consequences and potential fees from the IRS. A payroll software can help you reduce reporting errors and submit your taxes on time.
- Save Time and Stay Organized: One of the greatest benefits of a payroll software is its ability to keep your payroll files organized and improve efficiency. Both of these benefits matter for any small business seeking to expedite their payroll.
What Distinguishes AMS Payroll Software
Our accounting and payroll software stands out from the best payroll service providers. AMS takes a modular approach to software tools so that you can build your ideal payroll and tax software. The software is cost-efficient and professional, giving you the resources you need to improve your payroll system. Give the AMS Sales and Information Team a call at (800) 536- 1099 with any questions about how payroll software can better your business.