A payroll program is necessary for the management of employee information, hours worked and all the necessary associated information required by the payroll and payment of your employees.
A basic payroll program can meet most of your needs at first, but as time passes and you grow, there will be areas that need to change along with your business. As a business changes and continues to drive greater efficiency and cost reduction, there are a number of areas to consider in your payroll program for improvements. Consider payroll functions that can decrease staff resources and reduce costs for paper, printing, check stock, envelopes, and postage.
Payroll program capabilities that help improve efficiency and reduce costs:
direct deposit payment
Transfer pay electronically to employee bank accounts, instead of issuing paper checks.
Post payment notice
Distribute direct deposit payment notices electronically, instead of printing them on paper and distributing them.
Electronic Filing/e-Filing of State and Federal Reports
File tax forms and reports electronically over the Internet instead of buying all the associated materials, printing and mailing them.
Time clock import/time capture device
Electronically import employee time from a time clock/time capture device, instead of entering the information by hand.
License calculation and reporting
Maintain accrued, paid, and vacation, sick leave, and PTO reports with the ability to print accrued, used, and remaining on employee pay stubs.
Local Tax Tracking
Set up and track local taxes or tax groups, instead of keeping track of that often complex information in a spreadsheet.
Multi-State Tax Tracking
Track and pay taxes in multiple states, and keep track of tax requirements for mobile employees working in multiple states.
Track benefits like 401K, cafeteria plan, and other employer benefits/deductions and matches within your payroll program instead of using an external spreadsheet.
Wage garnishment can be complex, depending on many factors. Track and pay complex wage garnishments in your payroll system. If your program cannot do this, you will need to manually calculate each payday and enter it into the system.
Many companies that are outgrowing their payroll program or looking to save time and cost turn to Red Wing Software, looking for a better way to handle their growing payroll needs. CenterPoint Payroll Software is an in-house payroll software program that can accommodate all of these features and more. Check it out to improve payroll efficiency and reduce your costs.