3 Features Your Paystub Software Should Have
To stay remain profitable in your industry, it is important to automate some of the regular processes of your business. Among the activities that you can automate to improve your business’ profitability is payroll processing. If your company has hundreds of employees, you can improve efficiency of the Human Resources department by automating payroll processing. Any payroll automation program you use should provide accurate information related to your employees.
Accountability and taxation would be easier if your paystubs include the relevant information about your employees. You should select a paystub generator that will produce all the information you would need. The paystubs can then be presented to your employees either in hard copy or digital format. Here are three important features to look for before buying a paystub generator.
Accurate Tax Calculator
One of the key features to look for in a payroll stub software is the ability to accurately calculate payroll items. This feature is important especially if your operations span different cities, which may mean having to comply with multiple taxation rates. You also want a software that can generate the correct pay stub for the different countries that your business may have a presence in.
Look for a paystub software that can be customized to automatically update calculate withholding taxes as laws change. The software should also allow your Human Resources departments to provide employees with the gross payroll amount during each pay cycle.
A software that provides accurate information will ensure your employees and business pay accurate taxes to avoid penalties from the authorities.
Processing Taxes Efficiently
You also want a pay stub software that will make all payroll related tasks efficient. For instance, you should be able to file your business taxes straight from the program. If employees have provided all the relevant information and filled the correct forms, there should be no reason why the software should not allow you to submit their filings. An efficient tax submission pay stub software will prevent your employees from getting penalties for missed tax filing at the end of the year.
You may also want a program that would allow you to submit employee benefits such as social security benefits.
Access Paystubs at Any Time
When you start using a paystub software, your employees may not always receive a paper copy of their pay stub. However, you should get a software that can produce both soft and hard copies. Sometimes, employees may need physical copies of their stubs for record keeping or other reasons. Therefore, make sure the program you choose can easily make the information accessible. It should also be easy for employees to get the paystub for the specific periods they need online.
The above are the main features to consider when looking for a paystub software.