Starting A New Small Business? Here's How To Choose The Best Payroll Software

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Starting A New Small Business? Here's How To Choose The Best Payroll Software

21 December 2016
, Blog

If you are embarking on opening a new, small business, then a critical piece of your business plan is your choice of payroll software. It is vital that you be organized when dealing with your employees, even if you don't have many. For this reason, you should look at the following questions when choosing a payroll software.

Support Is Crucial For New Businesses

One of the most important things to look for is good support. You will eventually run into problems that you need help with. Instead of surfing around internet forums, asking strangers for assistance, you should plan ahead to chose a software that has dedicated support. This can be over the phone, live chat, or via email. You should look for a software package that offers support without charge for subscribers. As a new business owner, you are likely to run into lots of problems operating your software, so it's helpful if you don't have to pay for extra help.

Does The Software Offer Cloud Based Storage

Another cool feature to look for is cloud based storage. This will let you access your payroll records and make adjustments while on the road, at home, or on vacation. You don't want to limit your access to your office computer. Many modern payroll software programs will allow you to access the data online.

Compatibility With Other Software

You have to make sure that your payroll software is compatible with whatever other software you use. You don't want to get a software program that will force you to discard the software you currently use to create budgets, forecasts, time sheets, etc.

Will It Handle Taxes

A good payroll software package will print out tax forms, as well as file them for you. This will save you a ton of time, as well as make sure you are operating on the up and up and won't be receiving a letter from the IRS indicating you will be receiving an audit.

What Is The Pricing Structure

Finally, it is important to decide upon what type of pricing structure you will get. There are different models of pricing structures with payroll software packages. Some of them are priced around the number of payrolls you issue, while others are designed around how many employees you have. So, you need to do some number crunching and see which one is more affordable. For instance, if you have a smaller office, yet want to pay your employees often (daily) you should avoid programs that are based around the number of payrolls issued. That same software might work for a company with 2000 employees who are issued checks twice a month, but for you, you should use a software program that has a price structure designed around the number of employees.

For more information and options, talk with payroll service companies or accountants, such as those at Waggoner Frutiger & Daub CPA's.