Many small businesses struggle with how to best manage payroll. Some of these businesses choose manual timesheets or paper-based systems. There is a better way. You can use payroll software to automate your payroll. There are many types of payroll software, but the one that is most convenient for you will depend on your business needs. Here are five common payroll software programs that can make managing payroll a much easier task.
The main problem with manually handling payroll is the risk of human error. Manual Payroll timesheet applications have four major challenges: employees often submit timesheets late. Human errors are inevitable. The software must validate payroll data. Human hours and other employee information must be approved on a timely basis.
The third challenge is managing employee hours. Automating payroll allows companies to manage their employees’ time more efficiently. When you do not have to manually approve hours, you eliminate the possibility of human error. You also eliminate the frustration of having to deal with employee hours that are not recorded. With an automated system, you get data that is easily interpreted and approved for pay.
The second challenge is getting pay period data into the database. Some programs allow employees to enter hourly rates or other values into the program. However, if the hours of employees are inconsistent, the program may not be able to verify the correct pay period. This can lead to missed payrolls and late payments. With a program that automatically verifies pay periods, you get consistent data that eliminates human errors and increases company productivity.
The third challenge is getting data into the database for approvals. Some companies use software to automatically approve employee requests. However, human supervisors can often make more difficult approvals. Software may not be able to recognize the particular manner in which the supervisor communicated with the employee and the supervisor may have taken additional steps to get the approval, such as signing the request in his own hand. Humans, on the other hand, often do not know the specific manner in which they communicated with the employee and the supervisor may have taken additional steps to secure the approval.
There are many additional ways that your company could benefit from an electronic timesheet system. In fact, the ultimate guide to automating payroll timesheets provides you with many of these methods of increasing efficiency. With this information at your fingertips, you can focus on other aspects of the business that will make it more profitable and efficient. When you automate, you increase the overall productivity of your employees, your company and your ability to reach your goals.