What to Look for in Payroll Software for Insurance Agencies

Find the best payroll software for insurance agencies to gain both short- and long-term benefits in your specific industry. Insurance agencies have many areas of focus and set numerous goals on a monthly and annual basis: hit sales numbers, issue paychecks on time, and stay on top of your payroll taxes with specialized payroll software. A comprehensive program ensures greater accuracy and the ability to meet your different deadlines. Keep your agency’s risk management under control by staying informed all year-round. Run and export your reports while tracking tax deductions and liabilities with payroll software.

Enter “live” or after-the-fact payroll and non-employee compensation throughout the year with Advanced Micro Solutions Payroll Software. Our affordable add-on software module supports insurance agencies with clients in all 50 states, plus the District of Columbia and Puerto Rico.


Benefits of Payroll Software for Insurance Agencies

Clients who work with insurance agencies and brokers want one-stop solutions. Offer more robust, comprehensive services to provide consistent worker’s compensation management, 401K management, and more. Integrate payroll software into your agency to:

Expand Available Services – Prevent risk management from holding back your insurance agency. Use payroll software to understand your clients’ goals and develop new strategies. Integrate payroll with your existing services to provide a seamless and efficient experience.

Simplify Reporting – Review and manage your clients’ data with payroll software. Assess payroll information, summary reports, or create new reports to gain important client insights. Select a program that allows you to import data from external sources, such as QuickBooks, PeachTree, Excel, or Tab Delimited Text files.

Retain and Attract New Clients – Offer pay-as-you-go solutions to clients with payroll software for insurance agencies. The best system will also provide an insurance agency with a variety of payroll reports. Some key reports will include Payer/Tax Summary, Worker’s Compensation, and Employee Detail.

Give and Receive Customer Support – Make sure that your payroll vendor provides you with the same customer support that you provide your clients. Payroll services should help users to navigate regulatory and payroll requirements in their specific industries. It should support their business’s size and jurisdiction as well. Look for a scalable and wide-reaching service. Make sure that a software vendor also offers consistent or 24/7 support to your agency.


What are the Best Insurance Agency Payroll Features?

The most practical payroll software for insurance agencies makes your weekly tasks easier and your payroll more manageable. Some of the fundamental software features to invest in are:

Automated Payroll – Invest in software that enables you to automatically run insurance payroll. Save time and stay in control when you automate your tasks. Reduce your insurance agency’s risk of making mistakes with less manual input.

Direct Deposit Capabilities – Process client direct deposit information to ensure that money reaches a client’s pocket quicker. Consider looking for software that offers multiple forms of payment distribution. Some clients do prefer to receive paper paychecks. Payroll software is capable of offering flexible payment options.

Tax Penalty Protection – Use payroll software for insurance agencies to reduce the risk of incurring penalty fees from the Internal Revenue Service. You already know that insurance agencies need to stay up-to-date in the latest applicable tax laws. Find software that offers regularly updated state and federal tax tables.

Easy and Intuitive Setup – Easy payer and employee setup may seem like a simple payroll software feature. Try not to overlook how much time an intuitive program can save you in the long term. Look for a system where your agency can print documents on pre-printed forms. Identify software with easy form alignment to further reduce any headaches.


Why AMS Software is the Right Choice

The best payroll software for insurance agencies automatically calculates federal, state, and local payroll taxes. AMS Payroll handles those calculations and more at an affordable price. Process employee direct deposit payroll information and print MICR checks. Print over 30 possible types of checks individually or by a date range. Monitor all of the relevant state and federal tax liabilities at any time with the software’s View command.

AMS Payroll is one of our six optional add-on modules. Pair any or all of the six with our base W-2/1099 Forms Filer program for a full accounting suite of tools. The other five modules are E-File, Software Generated Forms, 1042-S Filer, Affordable Care Act Filer, and Forms Filer Plus. Download our free 1099-etc Demo software today and explore how these tools interact with each other.

Software Solutions from AMS

Our W-2 and 1099 Forms Filer is our only required platform. From there, users pick the services they need. Choose from the tools below to build out your customized accounting software.