Payroll can be complicated, especially if you’re not a payroll expert. To run payroll, you have to know about taxes, other deductions, payment options, recordkeeping, and more.
Luckily, there are ways you can make payroll simpler. By using basic payroll tools, you can save yourself time and prevent stress.
Useful payroll tools
Below are six payroll tools you can use to make payroll simpler.
1. Payroll software
Payroll software is by far the most useful payroll tool you can use. It can take many payroll tasks out of your hands.
The payroll software will do all calculations for you. It’ll total employee hours, calculate gross wages, and subtract taxes and other deductions. With payroll software, you don’t have to worry about miscalculations.
You can also pay employees through the payroll software. You can print payroll checks and pay stubs directly from the software. The software might also provide direct deposit (another great payroll tool that is discussed below). The software will also generate pay stubs that you can give to employees.
2. Tax filing service
You must pay and file payroll taxes by specific dates. These dates don’t always match up because you likely must deposit more frequently than you file tax forms. With all the dates to remember, it’s easy to miss them.
Using a tax filing service can help. The company providing the service will deposit and file payroll taxes on your behalf. If you must also handle state and local taxes, the tax service will likely handle these as well.
Often, your payroll software provider will have payroll services with tax filing for an extra fee.
3. Cloud record storage
You are required to keep payroll records for certain amounts of time. But keeping track of payroll records for each employee can be a hassle. You can end up with filing cabinets full of papers that are difficult to search through.
When you use a cloud record storage service, you can make your business more organized. You can store payroll records in the cloud, meaning you don’t need drawers full of papers.
You can also share documents with your employees through the recordkeeping software. For example, you can share benefit documents and your employee handbook.
4. Timekeeping software
It can take a lot of time to keep track of the hours employees work, especially if you have nonexempt employees. Small business time and attendance software can help you know when and how much employees work so you can accurately run payroll.
With timekeeping software, you can enter the time your employees work. Or, you can have employees clock in and clock out. If your timekeeping and payroll softwares are linked, your timecards feed directly into your payroll. Don’t worry; you can check the time cards before paychecks are created based on the time entries.
You can also have employees mark when they take time off, whether for vacation, sick leave, or any other time off you permit. By doing this, both you and employees can see how much time off is left.
5. Direct deposit
Direct deposit is an easy way to pay employees. There are many benefits of direct deposit. It’s paperless, meaning you don’t have to give employees a physical check. Each employee’s paycheck is automatically taken from your business bank account and deposited in their bank account. Employees don’t have to go anywhere to deposit their paycheck.
You can set up direct deposit through your bank, payroll provider, or another direct deposit provider. Your payroll provider might provide free direct deposit.
Before you implement direct deposit, be sure to brush up on the rules. Each state has its own rules, so you might not be able to implement mandatory direct deposit for your employees.
A calendar might seem strange compared to the other items in this list. But, a calendar can be an extremely useful payroll tool.
By setting up a payroll calendar, you can keep track of important payroll dates. You can add when you need to run your payroll, pay your taxes, and file forms. You can also set up notifications that remind you when deadlines are coming up.
You can use any calendar you like. You might create a calendar with a phone app. Or, you can use a desktop or online calendar on your computer.
Patriot Software can provide you with payroll tools to make running payroll simpler. Try our payroll software, tax filing service, free direct deposit, time and attendance software, and HR recordkeeping software. You can access it all through one login. There’s no contract, and you start with a free trial.