Cloud payroll software is the primary reason behind the decline of traditional, painstakingly manual payrolls, obviously for good reason — they’re repetitive, complicated and prone to human error.
If you are tired of slogging your way through payroll by hand, it might be time pass the tedious task off to a cloud payroll software service. Switching to a cloud-based payroll solution not only reduces costs, but minimize mistakes and frees up your time so you can focus on growing your business.
As a business owner, you might feel like you are doing all the giving during the holidays. Customers might ask for more inventory and better deals. Your employees might want time off or a holiday party. And, you are trying to find time for your family’s holiday events between busy workweeks.
Take a moment to get yourself something. Give yourself the gift of less paperwork and more time to grow your business. You need a basic payroll software solution – A Cloud Based Payroll Solutions
Why Your Business Needs Cloud Based Payroll Software?
An efficient payroll system contributes to the employees’ productivity and morale. It also spares the company from lawsuits and hefty fines. Research shows that a faulty payroll system may cost 40% of small businesses almost $1,000 a year.
Cloud based software allows you to be more flexible with where you do payroll. You store payroll information online. Cloud-based software gives you the freedom to access payroll from anywhere you have an Internet connection. Cloud payroll software can be a low-cost, time-saving way to do payroll.
10 Signs To Look Out For In Right Cloud Payroll Software:
1. Cloud based and rock solid security
All the benefits of 24/7 anywhere access on any device with automatic updates taken care of for you, along with taking care of all the backups in data centers across offering you ultimate data security peace of mind.
2. Real time information – Keeping it simple
Cloud based payroll software should be offering integration capabilities, such as linking the system to leave applications, timekeeping, overtime pay rates etc. This not only saves a lot of payroll processing time from having to manually input the necessary payroll information but provides real time information in one click.
3. Constant backups
Let’s face it: backing up your payroll data is a bit of a pain. That’s why constant backups offered by cloud based payroll software are the most preferred thing by the entrepreneurs. Cloud based payroll software offers facility of automated backups of your payroll data. You don’t have to do anything to back up your data: the backup process starts from the moment you sign up.
If something goes horribly wrong – say, if you delete an employee or remove your business’s entire payroll history – you can easily restore that data.
4. Easy interfaces and shallow learning curves
Cloud based payroll software offer an excellent user interface. The UI is polished, easy-to-use, and features a small learning curve. After just two or three payroll periods, running payroll should be easy.
You can run payroll yourself or teach an employee to run payroll for your company. The easy UI frees up time for your business and frees you from the clunky payroll systems of ages past.
5. Guarantees you tax accuracy
Cloud based payroll software should be offering tax guarantees ensuring that you will never be assessed a tax penalty. It is a huge advantage that ensures complete accuracy with every form you submitted.
Payroll on Cloud guarantees accurate tax returns for all the users; providing peace of mind to business owners and protects you from all payroll tax penalties. Messing up payroll tax automatically results in a 5% to 10% penalty against your business. However, you may also be eligible for a further tax penalty which needs to be paid by both the employer and the employee.
6. File tax forms electronically
Cloud based payroll software makes it easy filing your taxes electronically. Payroll on cloud reminds you when your taxes are due. Many cloud based payroll services completes the tasks using the employee information that you have provided. This means less time worrying about tax season and more time running your business.
The penalties for late tax filing can be steep; notifications will never let you miss your tax filing deadlines.
7. Mobile access
A right cloud payroll software should be offering payroll access on the go. Serving both the company and employees, managers and payroll teams can run payroll and view reports while out of the office, while employees can manage their personal information, view their pay stubs and verify their hours worked. The added benefit is freeing up the burden on HR staff for forms and tasks that can be addressed individually by the employee.
8. Accounting integration
With proper integration, accounting teams can save hours of wasted time of double data entry. Simply click the import button for the current payroll period and the right cloud payroll system should automatically update your books.
Not only automation integration feature save time, but it also adds peace of mind — without manual data entry, the chances of miscalculations, transposed numbers or other “uh-oh” moments are non-existent.
9. Minimal setup process
If you are hiring an accountant, you may need to spend days teaching that accountant about your unique systems and processes. Cloud based payroll software, saves you from this hassle; no setup process required: in fact, you don’t even need to download software.
Your all payroll processing takes place over the Internet. After creating your account, you simply add employees, enter hours every payroll period, and run payroll and its done. You don’t need any special equipment in your office, nor do you need to spend a lot of time familiarizing yourself with the software.
10. Amazing customer services
Your payroll needs will grow proportionate to your business and staff growth, so you’ll want to make sure that your cloud payroll software vendor offers best-in-class online support, and has highly trained telephone support for all your queries.
To ensure that the vendor can handle your needs over the long haul, ask which added services can be offered over time and for how much.
11.Switch To An Efficient Cloud Payroll Software
‘Time is money,’ and the big advantage of a payroll automation system is this: what are you doing if your payroll is not automated? You’re getting this all on paper or e-mailing around Excel spreadsheets. That’s time consuming and there is a much higher chance of errors in the calculations. And if you pay people incorrectly, you can face enormous penalties.
Get easy, quick and worry free cloud based payroll solutions for your business
image courtesy:JeonSoft Corporation,Vmoksha Technologies
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