Company payroll systems come in all shapes and sizes. Choosing a payroll tool will depend on your business’s industry, size, tax and wage reporting needs, and how much you plan to grow over the next several years. However, there are a handful of decisions you’ll have to make before pulling out your wallet, namely: whether you prefer disc- or cloud-based, if HR integration is important, and how the software’s fee structure works.
Regardless of your company’s specific needs, know that AMS Payroll was designed with small businesses in mind. The decisions made in designing our product mean that our cost is low, and you’ll have access to all the features you’ll need to use. Some larger companies might prefer to splurge on fancy payroll accessories, but most businesses will benefit from working with Advanced Micro Solutions.
What are the Types of Payroll Systems?
Payroll software tools offer a surprisingly diverse array of features. In most cases, you can distinguish between them based on the following characteristics:
- HR Integration: Some companies choose payroll systems that integrate human resources data. This is a strategy for larger companies to store all sensitive information within a single platform. However, if a payroll tool is not cloud-based, data security shouldn’t be an issue. AMS does not include HR integration for precisely that reason: Our software is secure, and most companies find they don’t need this addition.
- Pay Schedule Flexibility: Some basic payroll providers only allow for monthly or biweekly pay schedules. Others, like AMS, can facilitate both “live” and after-the-fact payroll, as well as nontraditional pay structures. The most common types of payroll include monthly, semi-monthly, bi-weekly, and weekly. Choose what works best for you and find the company payroll system that supports your needs.
- Cloud- vs. Disc-Based: Increasingly, payroll tools are moving to cloud-based platforms. This means your sensitive data is not stored directly on your computer. While this can be beneficial for large companies with several workers managing payroll, data security may be at risk. Additionally, cloud-based options are often more expensive than disc-based alternatives.
- Fee Structure and Billing: If you’re keeping an eye on your budget, you’ll want to pay attention to a company payroll system’s fee structure and billing. Some popular options include a subscription model. In these cases, users are billed monthly, plus a nominal fee for each employee on the software. Other options are billed annually, or otherwise have a one-time cost.
Before pulling out your wallet, reflect on what you need from a payroll system. If you’re not sure exactly what might benefit your business, we’d be happy to help. Give our Sales and Information team a call at 800-546-1099.
Consider AMS for Your Company Payroll System Needs
AMS provides the best accounting and payroll software available – all at a low price. Disc-based AMS Payroll offers easy billing options, flexible pay schedules, and can facilitate both direct deposit and check printing. Plus, this tool automatically calculates federal, state, and local payroll taxes. This means you’ll be less likely to make a mistake.
If you’re not sure whether AMS is the right option for you, check out our free demo software. This is an excellent opportunity to see exactly what your money pays for. Then, when you feel confident in your decision, you can make the purchase with ease.