Best Apps for Payroll Processing

Using payroll apps vs. outsourcing

Apps have made it easier to process payroll and pay employees. If you have a massive company with thousands of employees, the solution might be to outsource payroll to a payroll management company. With a large number of employees, it's a full-time job to keep track of each employee’s hours, overtime, health benefits, leave days, sick days, and withholding. If you have a small business looking to keep costs down, you might ask yourself should I outsource payroll and save time on my end or should I decide on in house timesheet and do it myself? There are a couple of parts to making this decision to make sure you are not wasting too much of either. The disadvantages of outsourcing payroll is (of course) the money you spend. Yet another disadvantage is the lack of control you have over your own data. If you have the time or are starting out in a new business, it might be worth it to start your own payroll system by using an app that makes it easy for you to calculate your payroll and stay in control of the monthly employee payments and time tracking. 

Save time with payroll apps

In fact, payroll software systems with apps allow you to have all the information in one place and on the go. If you or an employee has a question about payroll, you can have an app that immediately gives you all the information you need instead of emailing your accountant or a company you paid to manage your payroll services. The benefits to payroll systems with apps are not only saving time, but taxes can be complex. Payroll software is meant to take the difficulty out of the tax calculations as well as inform you of any tax updates. If you are unsure about how to do payroll for a small business, finding a software and app that walk you through the basics and teach you the important parts of payroll processing would be beneficial. You may not always want to do your own bookkeeping, but as a business owner, it's a good idea to learn the payroll process and find the system that benefits you and your company. It is realistic to mention that, without fail, you will need to spend hours entering payroll information. So, you need to find the right payroll system that saves you time and makes sense for the size of your company. 

Using apps to track hours for employees

Furthermore, another main part of the payroll equation is tracking employee hours. The best way to track your employees' hours starts with how your employees get paid, such as if your employees get paid hourly, by each job, or salary. Whichever way you have set up your contract or agreement with your employees will help dictate which source of tracking you will need. If you pay your employees by the hour, then you might want to look into a simple app that can track hours worked that will also export onto your payroll system. The benefits of these apps will be clear at the end of the month when you simply export the data into your payroll instead of having to do it manually. With a small business, you might want to look into an app that gives flexibility in how employees track their time, but with detailed reasoning. For example, you can have an app that the employee can pick their day off, or if they have a sick day, or if they want to take paid holidays. At the end of the month, all of these detailed reasons might be a benefit to you during the payroll process. If your employees generally work online, you want to look for an app that allows them to clock in and out over their desktop. You also want to look for one that features screenshot capabilities, so you can see how their work is progressing while they are clocked in.  

Employees can access information to keep their own records

Regardless of the size or type of company you have, the legal obligation for keeping accurate and confidential employee records is standard and necessary. Software and apps have made it much easier by going online and pulling up personnel information. Having access to records online also allows your employees to access their information. Employee access on most apps can be gained by an employee login which allows them to only view paperwork they need and keep others confidential.

You should find an app that allows you to pull up the entire payroll sheet, but also allows employees to log in and view their own payroll records. Some employees may have certain health benefits or tax considerations they need to take into account, so it might be beneficial for them to have a copy of their pay stub online for reference purposes. This can help you give your employees the responsibility of keeping their taxes and benefits on track and allow you to stay focused on other parts of running your business. For your organization to maintain updated information, finding an app that keeps all your employee documents secure and in order would save you time as well as office space. 

Apps that can help you with taxes and security

In addition to apps making it easier to monitor your payroll, they can also help you make sure that payroll taxes are being handled correctly every month. Apps like Quickbooks can help your HR and payroll systems become a simple monthly chore instead of hours of headache. There are apps that have lots of features that can make your taxes much easier. Some apps have options to take pictures of receipts, import credit card transactions, and keep electronic pay stubs so you don’t have to keep piles of paperwork in order until tax season. If this is your first tax season as a business owner, you want to find an app that explains the tax process step by step, so you understand how to prepare your business taxes in the future. Most of these apps also feature a professional tax advisor so if you need help along the way, you can chat live with someone to give you answers and guidance when needed. Security is also a factor in deciding what app to use for sensitive information like taxes and employee records, or research apps that give you information on how they keep your data protected. It should be noted that no matter if you choose to use the software on a desktop or an app on your smartphone, you should be aware of the risks that you can prevent by learning about cybersecurity and how to keep your information secure. 

There are many apps out there that can help any type and size of a company, but finding the right one for you is important to the organization of your payroll logistics. Apps can help give you on the go information about the financial health of your company during any time of the month or year, especially when paying employees or filing your taxes. Use these tips to find the best app for you and enjoy saving time and money, and getting back to the more exciting parts of running your business.