Save on Business Costs by Doing Your Own Payroll

Some of the most important small business software you can invest in is bookkeeping software. The idea of doing your own payroll often conjures pictures of frustration and pure aggravation in the mind's eye. Fortunately there is a silver lining in the often-nightmarish world of payroll software.

Small businesses face many challenges as it is, why add to expenses by paying a payroll company to do your payroll for you? Save on business costs by doing your own payroll. Everything you need is at your fingertips; the trick is finding the perfect small business software for the job.

The Advantages of Using Payroll Software

Doing your own payroll isn't nearly as difficult as it once was. Some advantages to using payroll software may include:

Ease of Use: All options are clearly laid out and explained in plain English. Everything can be accessed easily through icons and menus. Also having the advantage of easy access to records.

Manage Payment Options: Provide your employees the same flexibility in payroll that your current payroll company offers. Set up each individual employee to receive their pay in the form they need to receive it i.e. Electronic transfer, check and giro or cash payments may be recorded and very easily tracked.

Manage Company Pay Setup: Create payroll headings as needed to fit your company's structure. Normal pay, overtime, commission, holiday pay, expenses and pension are just a few off the payroll headings you may choose to create at any given time.

Manage Payment Periods: Pay periods often change from employee to employee. Create a schedule that includes any combination including monthly, fortnightly, weekly or even hourly pay. The program will keep up with pay dates for you.

Per Employee Information: The ability to see the exact facts and figures associated to a specific employee has never been easier than with payroll software. A simple click of the mouse allows you to arrange information so you can evaluate each employee much more effectively and efficiently.

Analysis: View periodic reports on the computer screen or print them for a hard copy. Your most recent P45, P60 and P35 are on hand at any given time so you may analyze your payroll more easily.

Manage Employees Easily: Making notes on employee files is a great way to record disciplinary actions, holiday history, sick leave and notes about them. Payroll software allows you the same benefits, but in a more private setting. No more worrying that another employee may see personal information about someone if you happen to have a folder open on your desk.

E-mail Payslips: Today's technological advances allow employees to set up direct deposit of their paychecks directly into their bank account. Most payroll companies mail a paper copy of the payslip to each individual employee. Avoid the costs of paper, envelopes and postage by e-mailing payslips to your employees.

Your Small Business Software Solution

Every business owner is guilty of looking through their books and obsessing over how to make things better. We all strive to be the best and analysis of every nuance of business is necessary for improvement. Analyse various parts of your business by using small business software that is designed with that purpose in mind.