Can Payroll Software Generate Reports for Labor Cost Analysis and Budgeting Purposes?

Yes, the most comprehensive payroll software generates a variety of reports, including those for labor cost analysis and budgeting purposes. All of your payroll reports should compile the small business’s information in a simple, easy-to-understand format. Look for software that creates reports for yourself as the employer, your employees, and the Internal Revenue Service. An […]

Can Payroll Software Calculate and Track Accruals for Sick Leave and Vacation Time?

Yes, small businesses can add built-in income types with payroll software to calculate and track accruals for sick leave and vacation time. Track these specific accruals separately to make it easier for you to identify your employee vacation and sick payments. Payroll software can list the payments as a separate income on a printed check […]

Does Payroll Software Offer a Built-In Payroll Calendar and Reminders for Key Payroll Dates?

Payroll software offers automation for any payment deadlines, but a built-in payroll calendar and reminders for key payroll dates is less common. Use a few helpful strategies to ensure that your small business does not file forms late or miss filing for employment tax deadlines all-together.   Share deadline dates with employees. Provide employees with […]

Can Payroll Software Handle Different Types of Employee Benefits and Deductions?

Yes, payroll software can handle different types of employee benefits and deductions. Look for a software system that gives you options for all of your different types of workers. Payroll software should also be a strong investment when you want to improve the payroll management process. Reduce the stress of doing payroll math with your […]

Can Payroll Software Handle Tip Calculations for Tipped Employees?

Yes, restaurants and similar businesses should look for payroll software that can handle their tip calculations for tipped employees. Keep records of all reported tips to avoid audit consequences from the Internal Revenue Service. Good record-keeping also ensures greater accuracy and the ability to find paperwork as you need it for any employee. The most […]

Does Payroll Software Support Multiple Pay Rates for Different Roles?

Sometimes, which means you should confirm first that a payroll software supports multiple pay rates for your business’s different roles or departments. Do you employ hourly employees who perform multiple jobs on different pay scales? Ask potential software vendors whether a system is compatible with what you need to accurately manage the payroll. These pay […]

Is Payroll Software Scalable for Businesses of Different Sizes?

Sometimes, which means that you should thoroughly research before you invest in your payroll software. Payroll software that works well for a small business does not inherently work well for a larger one, or vice versa. Consider the size range of your business. Invest in software that corresponds to your company’s current and projected growth […]

Can Payroll Software Handle Different Types of Compensation?

Yes, payroll software can handle a variety of compensation, such as commissions and bonuses. Issue your employees’ bonuses either as separate payments or by adding them to their regular paychecks. Commissions are slightly different. Consider commission plans, commission quotas, and taxes when you calculate the exact commission that your company must pay its employees. Do […]

Is Payroll Software Compliant with Tax Regulations and Laws?

Yes, you should have no difficulty finding payroll software that lets you stay compliant with all tax regulations and laws. Do your research ahead of investing in any type of software. Some payroll programs may only offer payroll compliance in certain regions, states, or countries. Make sure that a vendor provides the necessary support in […]

Does Payroll Software Calculate Taxes Automatically?

Yes, the best payroll software can automatically calculate your business’s taxes. There are more than a few moving parts when you first learn about payroll management and how to handle your employees’ payroll taxes. Save time by investing in payroll software that can handle both FICA and self-employment taxes. The Internal Revenue Service expects most […]