You’ve been processing your company’s payroll in-house, and you are looking for a change. Online payroll systems provide lots of services that make processing much easier. Let’s go over some of the common online payroll services.
Payroll Processing
Online payroll services include complete payroll processing. This includes processing deductions, hourly rates, salaries, overtime pay, and holiday pay. Once calculated, the system pays employees via a paper check or direct deposit.
Garnishment Administration
If you’ve ever received a notice that you need to garnish an employee’s wages, you probably felt stressed. You know you need to comply, or you’ll face legal ramifications. Online payroll services include garnishment administration, even if the notice is from another state. It deducts the amount and sends the payments as needed. Also, if the employee quits or is fired, the system notifies third parties on your company’s behalf.
Worker’s Compensation Management
You can use an online payroll service to manage workers’ compensation payments, as well. If employees have been injured on the job, the system will calculate and submit the payments for you.
Payroll Tax Management
Your company needs to pay its payroll taxes on time, and this can add to your stress. Fortunately, an online payroll service can handle your payroll taxes for you. The service will calculate the taxes, debit the amount from your account, and pay them on your behalf. It also handles your payroll tax filing, so you can take that item off your to-do list.
Expense Management
Expense reimbursements are tricky for companies. Manual reporting systems are subject to fraud, so it’s critical to use an online payroll service to handle the task. Expenses are entered into the system, and once approved, the employee is paid. However, it doesn’t stop there. Online payroll services include automatic mileage tracking and expense audit reports to cut down on fraud. Many companies reduce expenses with the help of online payroll services.
Employee Services
Online payroll services also include employee access. Employees can access the system to ask questions and retrieve their paystubs. Also, the system grants access for employees to get their tax forms.
Detailed Reporting
Online payroll services include detailed reporting that you can easily view. These reports include everything from labor allocation to employee turnover by department, so you can easily analyze every aspect of your company’s payroll. You can also view real-time analytics at any time. Often, these analytics are provided in a graphical format to make it easier to analyze the data.
Mobile Access
When you think of processing payroll, you imagine yourself behind a computer screen, stuck in your office. Online payroll services include mobile access so you can make changes on the go. You can grant access to as many employees as you desire, and each person can enter information into the system. Once entered, all of the administrators can access the information from anywhere.
As you can see, online payroll services make it easier to manage your payroll. When you use one of these services, you’ll have everything you need, and you can access it on the device of your choice.
