Free software is oftentimes a quick and compelling alternative to looking for affordable payroll for a small business for 2023 taxes. Try not to focus too much on how free payroll software is a money-saver for your budgetary concerns. That type of software typically has its limits and tiers that only offer you so much without purchasing add-on features. Invest in reliable software that is affordable and does not surprise your business with subscriptions or hidden fees. Customize the software to your business’s needs and add additional features as you need them to avoid overpaying.
Our W-2/1099 Forms Filer is a base program for users to build up with any of our six optional add-on modules. Advanced Micro Solutions Payroll Software adds onto the base program and allows users to enter payroll and non-employee compensation by check throughout the year.
What is the Benefit of Affordable Payroll for a Small Business?
Knowing what you need from your software for tax year 2023 reports allows your business to work smarter all year-round. Some of the key benefits of finding affordable software are:
Productivity – Keep up your payroll management momentum and avoid procrastination with affordable software. A straightforward program offers intuitive features to users without many bells and whistles. Look for a user-friendly interface and menu-driven format to give yourself more time to focus on all of your business’s tasks.
Automated Features – Cheap software does not mean that your software will lack key tools. Look for a program that automatically calculates a business’s federal, state, and local payroll taxes. One of the potentially most expensive costs of otherwise affordable payroll for a small business is if the software creates more work for you.
Fewer Errors – Software cannot prevent you or your business from making errors. Catch more of the errors or reduce the risk of making them by hand when you invest in worthwhile software. An error may include applying the incorrect state tax if your business operates in more than one location. Affordable software can offer regularly updated state and federal tax tables.
Scalability – Broaden your business’s payroll possibilities with an affordable, full accounting suite of tools. Decide which tools you need and when you need them with add-on software modules. What you need now may change in five or 10 years as your company grows. Think ahead to avoid needing to purchase a new program too soon or at all.
Pros and Cons of Running Payroll In-House
All businesses must decide if they want to hire an in-house bookkeeper to manage affordable payroll for a small business or outsource their payroll management tasks. The advantages of having an in-house accountant or bookkeeper are:
You can hire someone to meet your specific needs. Certain businesses have specific or specialized accounting requirements. Outsourcing your bookkeeper or a company to handle payroll management may create consistency issues if they are not familiar with your company.
Your bookkeeper is always onsite and available if you require assistance. Walking a few paces to an office is quicker than sending an email or calling an offsite accountant. An onsite worker is a great resource if you have a software emergency or need someone to talk to your payroll vendor.
An in-house employee brings loyalty and multitasking capabilities. You may require a bookkeeper who can multitask to manage your affordable payroll for a small business. Any external accountant will work on behalf of multiple clients. Businesses may also feel more confident knowing that their sensitive data is secure with one of their own employees.
Some potential disadvantages of in-house accounting include:
You may not need an in-house bookkeeper all year. Tax season can be more busy than the rest of the year. Consider whether onboarding someone to handle the company’s payroll is the most cost-effective payroll solution.
Hiring a bookkeeper means paying for more than just fees. Bringing on an employee to run payroll means that you will need to pay them a salary and offer them benefits.
You may need to decide between a knowledgeable bookkeeper and an affordable one. Family businesses may hire from within or give their bookkeeping tasks to one of their other workers to save money. An easy-to-use program is essential so these workers do not have a steep learning curve.
Why Small Businesses Prefer AMS
AMS Payroll makes affordable payroll for a small business a reality. Avoid hiring new workers or training an existing one. Our software processes employee direct deposit information and offers easy payer and employee setup. Download our free 1099-etc Demo software today to discover our full range of features.