To save money and time, it’s critical that you simplify your company’s payroll processes and modern technological advances let you do this with minimal hassle. If you haven’t started using powerful accounting software or cloud services to help you streamline your payroll processes, our Dallas CPA is here to help you with three ways you can speed up what you need to do with modern payroll technology:
1. Online portals and cloud storage
The main problem with offline payroll software programs is that they tie you and your employees down to the business location, requiring you to be on-site to access or enter information. With online portal and cloud storage, you can input, organize, share or print off payroll data from virtually anywhere. This makes it a snap for you to stay on top of payroll tasks while traveling, or to quickly get information for shareholders, investors, or board members. You and your workers can easily access payroll-related documents, such as timesheets, without having to worry about the office hours of the company. This is a huge benefit for workers who don’t work the traditional 9 a.m. to 5:00 p.m. or who telecommute – these employees are becoming much more common, as companies strive to accommodate new market demands. The fact that everything is in the cloud also reduces clutter and can make it much easier to locate the data you need. You drastically can reduce costs and errors by going digital, all while improving efficiency and speed. Gurian CPA Firm provides cloud-based accounting and payroll services to help you stay organized and mobile.
2. Custom payroll reports
It’s not always necessary for you to see all of your payroll information at once. With a good technology solution, you can create a report just for the task you have at hand. For instance, if you’re working on your taxes, you might want a customized report for deductions. Similarly, if you’re looking to see if each department has adequate staff, or what percentage of the budget each department is really taking, you can make a labor distribution report. Good programs and providers can automate the creation of dozens of different payroll documents for you. For detailed report generation manage and information organization, Gurian CPA Firm offers QuickBooks set-up and implementation assistance for Dallas businesses.
3. Electronic payments
Issuing payment with hard copy checks is costly for your business, racking up paper, ink and postage expenses. Modern payroll technology allows you to automatically submit payment requests and transfer funds, eliminating these costs and reducing the amount of time it takes for your workers to get the money they need and deserve. Using direct deposit also reduces the need to track uncashed checks or spend time with reconciliation. You can use payroll technology to submit electronic tax-related payments, too, ensuring your company stays compliant and doesn’t get hit with unnecessary penalties.
Payroll traditionally has been a time-consuming area for businesses, but with good technology, it doesn’t have to be problematic anymore. With the ability to go online, customize what you see and handle payments without paper, Gurian CPA Firm is ready to help you reduce what payroll costs your business and remove many of the headaches compensating your employees can cause.
