Consider all the ways to make your day-to-day operations easier by getting payroll software for brokerage firms. Brokerage firms undoubtedly deal with numbers and big decisions not only on a regular basis but also at a high level. Get additional support for a firm’s payroll management to more than adequately account for employees. Make sure nothing slips through the cracks as you find payroll technology that keeps users organized and up-to-date on regulation changes. Comprehensive software should inform your firm of all the relevant federal and state payroll tax liabilities.
We designed Advanced Micro Solutions Payroll Software with small businesses and firms in mind. AMS Payroll is an affordable add-on module to the core W-2/1099 Forms Filer product. The system supports users across all 50 states, plus the District of Columbia and Puerto Rico. Customize the base program with the tools that will benefit your firm as you need them with no hidden fees.
Is Payroll Software for Brokerage Firms Necessary?
Consider whether you want to invest in payroll software or outsource to a payroll service. Every firm has different needs that can make one optional more practical. Getting payroll software is a worthwhile solution if:
You need to spend less time running payroll. Do not let running payroll eat up your firm’s hours during every pay period. Get software that accurately calculates salaried pay and any overtime for you. Consider how many employees you have now and how many you wish to employ in the future. Invest in a scalable system that cuts down on payroll management labor.
The firm has encountered difficulties with payroll tax compliance. Look into self-service payroll software for brokerage firms to calculate the firm’s taxes. Make filing forms into a more straightforward process with just a few simple clicks in an easy-to-use, intuitive system. Speak with a payroll vendor about how their software handles deductions and additions like 401Ks or health insurance.
You want to improve employee retention. Avoid one missed or incorrect paycheck derailing your firm and your employees’ lives. Use payroll software that possibly incorporates more than one delivery method, such as check printing and direct deposit. Satisfy employees and make payroll management easier when you have options that are available and work for everyone.
All-in-one software will cost less money for the firm. A full accounting suite of tools does not need to break the bank. AMS’ payroll software for brokerage firms pairs well with the E-Filer and Software Generated Forms tools for an affordable price. Spend less time worrying about if your software programs integrate with one another. Use the E-Filer to electronically submit year-end W-2 and 1099 forms to the Internal Revenue Service or Social Security Administration.
How to Choose the Right Payroll Software for Your Firm
Getting the most appropriate payroll software is an important step for any business or firm. Take the following steps to avoid rushing the process.
Know Your Workforce – Create a detailed breakdown of the existing employees and the types of employees you may hire in the future. Consider if you employ independent contractors, W-2 workers, or a combination of the two. The best payroll software for brokerage firms will support multiple worker classifications. Ask yourself about how many workers are part of your firm. Take into account whether or not all of these workers live in the same state.
Identify the Necessary Features – Do not assume that all payroll vendors create software with the same prioritized features for users. Determine which features matter most to your firm and speak with a provider. Ask whether the tools require additional fees or if they remain limited for certain tiered users.
Try a Demo – Trust your own software experiences rather than taking any vendor’s word for it. See if a vendor offers a demo or a free trial that gives potential users a better idea of a system. Consider a demo that lets you input your real data to see how the software handles it.
Determine Your Budget – Avoid overspending and plan ahead so you know the software that your firm can afford. Software should not compromise your finances or require you to purchase more than you need. Look for upfront pricing and distinguish which software has hidden fees.
Get Started with AMS Payroll
Our payroll software for brokerage firms values transparency for all users. Download our free 1099-etc Demo software today to easily track your firm’s payroll with access to federal, state, and local tax liabilities. Print W-2 and 1099 forms to the purchased, pre-printed forms or e-file the firm’s documents.