When onboarding a new employee, you normally don’t have to deal with payroll responsibilities beyond the fundamentals as an HR expert. However, because you’ll be dealing with any complaints, making sure workers are paid is critical to your position.
You’ll also want a system that automates payment processing while remaining compliant with IRS guidelines and regulations. Most HR software systems have a payroll module by default, but if yours doesn’t, ask your software vendor if it can be added.
Payroll software that is integrated with your HR system has numerous advantages. You may configure the system to eliminate mundane duties, streamline your onboarding process, and assure timely and accurate payments. Furthermore, a system that is updated on a regular basis makes it easier to comply with complex tax rules. First and foremost, any payroll software solution must include the following features and capabilities.
The following features should be included in your payroll software solution:
- Payroll processing: The ability to process various aspects of payroll, such as timekeeping and overtime pay rates, is the ultimate function of any payroll software.
- Employees don’t like to wait for paper checks, but fortunately, most payroll software can connect with banks and send payments directly to employees’ bank accounts. This also reduces the likelihood of errors or missing payments.
- When tax time comes around, the finest payroll solutions feature automated computations that can pre-fill employees’ tax information with data already in the system, avoiding any human input errors. Another benefit? Your taxes will be filed on time every time.
- Payroll systems should have comprehensive compliance mechanisms in place to protect workers’ data. And, because the state, local, and federal tax regulations are constantly changing, an automated system assures that your company is always in compliance.
- Employee self-service portals let employees log on and view their payroll information, allowing them to handle some of the jobs for you. They can correct any data errors and enter their own time attendance information, leaving the critical work to the payroll pros.
- Accounting assistance: Certain accounting processes can also be linked into a payroll solution, streamlining the overall Finance process and allowing your teams to collaborate more effectively.
These capabilities can all help your company, such as cutting time-consuming duties from your Finance workers’ workloads and streamlining onboarding and other HR-related operations.
Work with IT to determine how the software will be installed on people’s PCs and whether additional equipment or training is required. Despite the difficulties of adopting a new payroll and billing software solution, the time and money saved by combining payroll and HR software are well worth it.
