Payroll Software Buyer's Guide

Payroll software automates the process of paying employee salaries and enables companies to customize paychecks and manage tax information with great ease and efficiency.

Overview

When shopping for a payroll software plan, it’s important to know what to look for so you can easily compare products. Here are some considerations to keep in mind:

• What is payroll software?

  Payroll software is a cloud-based or on-premises solution that is designed to manage and automate employee payments. Payroll software also tracks all payment records and maintains compliance with tax laws and other financial regulations.

• Is payroll software worth it?

  Payroll software ensures that all employee payments are processed and dispensed in a timely and seamless manner. It is a worthy investment for all organizations, big or small, as it saves you time and money in the long run.

• What are the important features of payroll software?

  A few important features of payroll software include automatic calculation of deductions, processing direct paycheck deposits, and creating tax forms. Some may also offer self-service capabilities and the option of generating customized audit reports.

• What makes the best payroll software?

  The most sought-after payroll software generally offers a simple setup and top-notch customer support. They also generate accurate deposits, tax filing, and payroll reports and offer excellent integration options.

Payroll Software FAQ

So how do you choose a payroll software plan that’s right for you? These are the questions consumers are asking when shopping for a payroll software plan.

How do you install payroll software?

To install payroll software you can simply visit your chosen payroll software website and click on the ‘Download Now’ icon. Once it is downloaded onto your computer, you can start the setup process. You will have to choose your software package and fill in your contact details, license and registration information, along with payment information. You will then have to forward these details to the payroll software company that will send you a registration code. You can enter this code to finish setup and start using the payroll software.

What organizations can use payroll software?

Payroll software can be used by any organization - big or small. Some payroll software is suitable for small to medium-sized businesses while others are designed for 500+ employee companies, restaurants, and non-profit organizations. You can also find payroll software ideal for remote businesses, contractors, or entrepreneurs.

If you have locations outside of the US can you still use payroll software?

There is country-specific payroll software that can be used outside of the US. Some companies also engage third-party vendors to provide payroll services in countries outside the US, that may not have domestic versions.



Final Thoughts

Investing in payroll software ensures seamless processing of employee salaries and management of tax information while reducing errors and saving you considerable time and money.