Managing payroll software to pay employees is any business’s top priority. Your company may be looking to expand by hiring more full-time and part-time workers. Alternatively, you may be looking to only hire occasional help from independent contractors. Hiring the right workers, and then knowing how to pay them, can quickly become a burden. If you know how to manage your company’s payroll, you should have a stress-free experience.
Using a program to pay your employees on time and in full will help you retain workers. Paying workers appropriately will also uphold your business’s reputation within the community and keep you in compliance with government regulations. If you mismanage the software to pay employees, several things may happen: your workers may quit, the Internal Revenue Service can issue major fines, and, in the worst situations, you may have to shut down your company.
If you own a small business and need to figure out payroll without hiring, Advanced Micro Solutions can provide affordable solutions. Our tax and payroll software is user friendly and available in a range of configurations to suit your business’s specific needs.
Best Ways to Manage Small Business Payroll
Small business owners can take five actionable steps to manage payroll for the first time.
Share a Payroll Calendar – Sharing your calendar is useful once you have added pay periods, pay dates, payroll tasks, and other related pieces of payroll information. Using software to pay employees and provide access to the calendar is better than assuming your workers will recall every deadline. Doing this will also allow them to see any delays or pay date changes.
Update and Maintain Records – You must keep your company’s payroll records for a minimum of three years. Familiarize yourself with deadlines, as different documents will have their own record keeping timeframes. If you invest in payroll software, you can stay organized while also keeping personal employee information secure.
Review Tax Laws Often – Paying high fees for failing to comply with tax laws can ruin a small business. Checking the IRS website regularly and using up-to-date payroll software can help your company avoid having any run-ins with the IRS.
Hire a Payroll Manager – Small business owners shoulder many of the company’s daily duties. As your business grows, you may need to allocate payroll tasks to someone else. You can still keep your business small. You may hire someone part time to manage the books. You can also create a hybrid role for an existing employee.
Ask Employees for Feedback – Managing payroll is a two-way street. Communicating with your employees about their concerns or any suggestions can keep both parties satisfied. You may also garner good employee faith if you ever have a rare and unexpected payroll mishap.
Why Use AMS
Maximizing your payroll software to pay employees will make your business’s overall operations run smoother. Our accounting and payroll software updates the necessary state and federal tax tables as needed. AMS also supports over 30 different check types, based on your preference. To learn more about the available programs, download a free demo or call customer support at (405) 340-0697.