It’s a good idea for any business to have an accurate and up-to-date payroll system. Some people might not think about the need to have a payroll system until they’re ready to hire employees.
Thus, having one in place before you start hiring is much easier than trying to put something together when you already have employees on the books. In this blog post, we’ll go over some of the things that can be helpful for your small business’s payroll system to include.
The Size of the Staff
How many employees are your business likely to hire? If you think it will be a small number, you may not even need an incredibly complicated payroll system.
If you plan to hire many people at once or over time, however, having a system that can handle growth and multiple employees and their schedules can make things much easier for you.
What Specific Needs Do You Have?
Do you need to know precisely how much time each of your employees has worked so that you can be sure they’re getting paid correctly during their first couple of weeks on the job?
Would it be helpful if each employee had access to a website where they could view their take-home pay and hours worked every week? What would be easiest for them to use?
You’ll also want to consider whether you need any specialized features such as leave tracking, overtime tracking, or automated reminders so that there’s little chance of an employee forgetting about submitting their time.
Ease of Integration with Other Software
If you’re using other software in your business, it can be convenient if there are ways for that software to work directly with your payroll system.
You’ll also want to ensure that the program you choose integrates well with QuickBooks or any other accounting software. Once again, this will make everything much easier for you.
For instance, when it comes to payroll processing, you may need resources to make everything smooth. You may want to use pay stubs in achieving this.
It’s possible to generate pay stubs online these days. After filling in the personal details, the form is ready for download and printing. It’s only an easy-to-integrate system that allows you to use other tools seamlessly.
How Hard Will It Be to Set Up the System?
You’ll want to consider whether you’re paying someone else to set up your payroll system for you or if you’re planning on doing it yourself.
If you’re not very familiar with this sort of thing, then hiring a professional might be your best bet. Keep in mind that there are many things you can do on your own, however. You might be able even to set up most of it yourself if you’re reasonably computer-savvy.
How Much Will It Cost?
The system you choose must be an affordable one for your business. If it’s too expensive, then you may end up frustrated over the fact that you can’t afford to use it for all of your employees.
Accessibility and Ease of Use
What would be easiest for your employees? Do they prefer using a computer or an app on their phone? Would having something online that they can access from any computer be best? You’ll also want to look at the ease with which you can update each employee’s information during the hiring process and anytime you need to make changes.
Once again, you must consider whether your employees would prefer for this system to be extremely simple or if they’d like more detailed reports and features. The easier the system is to use, the happier your employees will be.
All in all, having an efficient and reliable payroll system is essential for any business. Whether you are looking to hire employees or not, it can be helpful to have a system in place that will help your small business grow. Target the systems which are easy to integrate.