Benefits of Automated Payroll
Automated Payroll is a computerized payroll system that makes it easier for your company to focus best on whatever your mission is and reduce the administrative duties required. If your organization is expanding, software solutions for payroll also make it easier to upgrade your systems.
One of the greatest advantages to using automated payroll software is the accuracy that it gives to your accounting team. By streamlining data entry and forcing it into strict fields, it reduces the rate of human error which can lead to incomplete or confusing information and the dreaded tax audit. To further make the process more accurate, many modern software packages also come with secure card or badge systems that make authorization and data entry extremely efficient and completely automatic to record shifts, overtime and absenteeism.
Computerized systems are more efficient
Payroll that is automated is also far more efficient because it greatly reduces the amount of paperwork that your company needs to store and keep track of. Payroll information is processed virtually instantly and thus your department can focus on other matters. You could even reduce the amount of staff to cut costs as the automated systems will provide a lot of services which previously had to be done by hand.
You save more
For example, let's say you have a company with 50 employees who get paid by-weekly. You could hire a computerized payroll company to produce your payroll for around $125 per payday. The services would include:
- Process payroll in 3 easy steps
- Mobile Payroll app so you can run payroll from your iPhone(r) or AndroidTM
- No setup fees
- Self-enroll at any time, or call for a walk-through
- No tax to-do's -- the service calculates files and pays federal, state and local payroll taxes for you
- Works in a Web browser on Windows(r), Mac(r), and on iPhone(r) or AndroidTM devices
- No software to install or updates to download
Payroll Data Security
- SSL encryption and industry leading security standards
- Secure Call-In ID so only authorized contacts discuss payroll data with Customer Care representatives
So, for around $125 x 26 paydays your annual cost for payroll plus payroll taxes would be $3,250 per year. There is no way you could hire a part-rime, much less a full-time employee for this amount of money.
You automatically comply with federal and state laws
By choosing an automated payroll service recognized and approved by the Internal Revenue Service, you automatically comply with federal and state laws at least in regards to reliable information. If you use your own accounting system and do not choose to automate, then you will need to spend far more time filling out paperwork and sending in forms by mail.
This can result in delays and even data loss and may even end up with a tax audit if enough information is incomplete. By choosing an automated payroll service, you can be sure that provided all the data fields are filled in with each submission, the work is streamlined and you will not flag any government investigations.
There are also strict data retention laws in many jurisdictions in place, and by using an automated service to calculate your payroll this information can be stored on multiple secure servers, instead of in filing cabinets with paperwork. Should you suffer any capital losses in a fire or a flood, you will no longer be culpable of fiscal incompetence and your insurance costs will also be less.
Who should automate?
The answer to this is simple: every business. There are automated payroll services available for businesses of all sizes and this makes it far easier to manage all aspects of your business. By automating, you end up having more time to spend on the parts of your business and mission that you are actually passionate about.
Top automation services
The IRS compiles a list of Assurance Testing System (ATS) and/or Business Acceptance Testing (BATS) certified providers of payroll. You can be confident that any of the companies on this list will be compliant and will serve you according to all the laws.Ready to Compare Payroll Services Price Quotes?