Start searching today for the best payroll software with audit trail capabilities. Make all potential audits less painful for your firm and its clients. Payroll software helps to keep all documents and important client forms organized and accessible whenever the Internal Revenue Service seeks them. Whether you manage payroll for five clients or 50 clients, invest in a fully comprehensive and easy-to-use system. Ensure that each of your small business clients feel comfortable and can rely on your payroll and accounting services. Do not take shortcuts and avoid looking for free software.
Input payroll and non-employee compensation for clients throughout the year with Advanced Micro Solutions Payroll Software. The optional add-on module for our base W2/1099 Forms Filer program is highly affordable and supports all 50 states, plus the District of Columbia and Puerto Rico.
Benefits of Payroll Software with Audit Trail Capabilities
Access all of your clients’ records instantaneously with the right type of software. Use an audit trail to review any corrections and see who made specific changes. Avoid raising any red flags for an auditor and upsetting small business clients. The best audit trail payroll tool will provide:
Fraud Prevention – Speak to your clients about informing their employees of the software audit features. Employees should know that a business’s contract accountant will track everything. The employees may reconsider trying anything that they should not do. Most software records transactions with time stamps partly for that purpose.
Improved Compliance – Show your clients’ compliance with policies and procedures when you utilize payroll software with audit trail features. Use an audit trail to record and store documents that contain information for a business on each transaction. Spend less time focusing on looking up regional and federal regulations when you get trustworthy software that shows tax liabilities.
Greater Client Trust – Create an accountant-client relationship that is built on trust. Prepare small businesses for any audits with trustworthy payroll software as one of the first steps that you take. Reassure clients that their information is secure. Remind them that the best payroll and accounting software automatically saves any important reports and forms as you access them.
Fewer Manual Errors – Use audit trail tools with payroll software to instantly show corrections. Get payroll software with audit trail features before you make an avoidable error that hurts your client and compromises your entire firm. Stay proactive and learn about whether your software imports data directly from the third-party applications that you use on a regular basis.
What are the Payroll Audit Best Practices?
Make the auditing process as effective and efficient as possible with the following techniques:
Implement Automation – Minimize the risk of manual errors with an automated payroll system. Update your software regularly and ensure that it reflects current employment tax laws and all policies. Confirm that the existing list of liabilities reflects the needs of each client.
Document Everything – Maintain comprehensive and accurate records using audit trail capable payroll. Store your clients’ payroll transactions, changes, and approvals in software for as long as the IRS requires you to hold onto the records. Get software that makes accessing these documents easy for when the IRS audits a company.
Create Internal Controls – Implement authorization and approval processes within your payroll software. Safeguard all client data from any unauthorized practices. Reduce the risk of the IRS flagging any client’s business.
Verify Employee Information – Speak with your clients to confirm their employees’ personal data on a periodic basis. Confirm tax statuses and bank account information. Ensure greater accuracy when you get software with tools like a Social Security Number Verification file.
Why is AMS Payroll the Best Choice?
Transfer client data to the state and federal quarterly unemployment forms, along with year-end W2s and 1099s, with AMS Payroll. Download our free 1099-etc Demo software today. Learn how payroll software with audit trail capabilities helps accounting firms that manage a variety of small business clients. AMS Payroll provides automated features that allow users to process a business’s employee direct deposit payroll information. Import data from multiple sources, such as QuickBooks, PeachTree, Excel, and Tab Delimited Text files. Use the View command tool to review state and federal tax liabilities at any time for your clients.
Consider AMS’ five other optional add-on modules for when your clients need a full accounting suite of tools. The other modules are Software Generated Forms, E-File, 1042-S Filer, Forms Filer Plus, and an Affordable Care Act Filer. Enter real data using the demo to see how these modules interact with one another and the base program.