Common Payroll Challenges and How To Overcome Them
Payroll is one of the biggest challenges for many businesses, but it’s also the most important function for retaining employees. Although employees are used to seeing that paper check arrive in their mailbox every week or funds magically appear in their bank accounts, there is a complicated and time-consuming process involved in making it happen — that is unless you have payroll system software to help you manage it all.
Today’s time-strapped business owners and payroll managers can benefit from using software to help them process payroll accurately while reducing errors. The following is a deeper look into the full list of benefits.
Ensuring that each and every employee gets paid the full amount they’re due sounds easier said than done. That’s because there are so many variables to track and manage. There are hours worked at the regular rate, overtime hours, tax deductions, social security deductions, HSA account deductions, and more.
If you’re still using manual methods like spreadsheets and timecards to track it all, you’re probably spending an exorbitant amount of time trying to put it all together and minimize errors. With smart technology that integrates time clock data with an automated payroll system, you’ll get your payroll done faster and have peace of mind that it’s accurate every time.
You know how important it is to complete your payroll reports and get them sent over to your payroll provider by the deadline they require. This cutoff time for submitting reports is often a stressful day for payroll staff as they rush to get all of the required information together. But with Scheduling+, our fully-integrated payroll system software uses the information from our web-based time clock system or app to create accurate, error-free timesheets that you can review, approve, and export in an instant.
Data Security and Privacy
You want to make sure that there’s no risk of tampering and no question about the integrity of the data. Scheduling+ employs multiple features to ensure that payroll information is entered correctly and stored securely. For instance, you can require manager and employee approval on the timesheet to prevent any payment dispute or miscommunication. Once you’ve exported your payroll data, you can lock your timesheets to prevent any tampering after the fact.
Staying Within Payroll Budget
Oftentimes there are discrepancies between budgeted and actual payroll. Sometimes you have to schedule more shifts to cover extended hours or ask multiple employees to work long weeks, leading to overtime. Either way, it’s important to closely track how close to budget your payroll is because paying employees is usually the biggest expense for any business.
With Scheduling+, our system lets you automatically track overtime with alerts when an employee is within a certain number of hours before hitting OT, letting you intervene before they’re automatically scheduled and your budget gets out of control. You can also review detailed reports that compare scheduled and actual payroll costs to see how changes in scheduling and extra work hours are affecting your bottom line.
If you’re still on a manual system such as spreadsheets to track employees’ hours, you’re at risk, of course, of not only committing typing errors but also spending far too much time double- and triple-checking your work. By using an automated system instead of one that relies on the manual input of data, you’ll reduce your risk of inputting incorrect numbers plus you’ll boost the efficiency of your payroll staff.
Improve Accuracy and Efficiency with Payroll System Software
Overcome many of these challenges and reduce the amount of time it takes to complete your payroll with payroll system software from Scheduling+. Some companies choose to outsource their payroll, but to do so is costly, raises security concerns, and prevents you from having full control over your business and any last-minute payroll changes.
Scheduling+ payroll is fast and easy — allowing you more time to focus on other high-priority tasks. It also gives you peace of mind knowing that you’ll be able to meet payroll deadlines with ease, have fewer errors, and have access to all of the data and reports you need to make valuable decisions for your business.
Learn More About Scheduling+ Payroll System Software
If you’re looking for an all-in-one software solution that integrates scheduling, time-tracking, task management, and payroll, Scheduling+ may be the software you’re looking for. Contact a member of our team for a free demonstration or sign-up to start your free trial.