Your Payroll Program: Reduce Costs and Improve Efficiency

21 June 2013 StephanieE Payroll, Small Business Tips

By Stephanie Elsen

No matter whether you are using payroll software or a payroll service for your business, you are surely using a payroll program to enter and track employee information, hours worked, and all the associated necessary information to pay employees.

A basic payroll program may meet most of your needs at the start, but as time goes on and you grow, there will be areas that need to change along with your business. As a business changes and continues to drive for more efficiency and cost reduction, there are a number of areas to consider in your payroll program to make improvements. Consider payroll features that can decrease staff resources and reduce the costs of paper, printing, check stock, envelopes and postage.

Payroll program capabilities that the help improve efficiency and reduce costs:

  • Direct Deposit Payment

    Transfer pay electronically to employee bank accounts, rather than issuing printed checks.

  • Publish Pay Advices

    Distribute direct deposit pay advices electronically, rather than printing on paper and handing them out.

  • Electronic/e-Filing of State and Federal Reports

    File tax forms and reports electronically via the internet instead of purchasing all the associated materials, printing and sending them.

  • Time Clock/Time Capture Device Import

    Import employee time from a time clock/time capture device electronically, rather than entering the information by hand.

  • Leave Calculation and Reporting

    Maintain accrual, payment and reporting of vacation, sick leave, and PTO with the ability to print accrued, used and remaining on employee pay stubs.

  • Local Tax Tracking

    Set up and track local taxes or tax groups, rather than keeping track of that often complex information in a spreadsheet.

  • Multiple State Tax Tracking

    Track and pay taxes in multiple states, and track tax requirements for mobile employees working in multiple states.

  • Benefit/Deduction Tracking

    Track benefits such as 401K, cafeteria plan, and other benefits/deductions and employer matches within your payroll program rather than using an external spreadsheet.

  • Wage Garnishment

    Wage garnishment can be complex, depending on many factors. Track and pay complex wage garnishments in your payroll system. If your program cannot do it, you will need to manually calculate every payday and enter it into the system.

Many businesses that are outgrowing their payroll program or seeking time and cost-savings contact Red Wing Software, seeking a better way to handle their growing payroll needs. CenterPoint Payroll Software is an in-house payroll software program that can accommodate all of these functions and many more.

Your Payroll Program: Reduce Costs and Improve Efficiency

Accounting Software – Signs You Are Outgrowing Yours

26 April 2013 StephanieE Accounting, Small Business Tips

By Stephanie Elsen

Accounting Software – Signs You Are Outgrowing Yours

Sometimes things happen so gradually that we hardly realize they are happening. Life happens, and one day we realize we’ve gained a few pounds, our house needs to be painted, and the car needs a tune-up... A similar thing can happen in business with your accounting software system!

Freeze-ups and lock-outs

If your current accounting program keeps on locking you out or freezing up, it may be because you are outgrowing its data limitations. It could be the number of inventory items, transactions, and years of history or a combination of things. Once you have outgrown your system’s capacity, it’s hard to keep it working efficiently and it may be time to search for something new.

Workarounds are the norm

When your needs become more than your accounting system can handle, you may start to use workarounds to accommodate your system needs. The more workarounds you create and use, the more manual work you create for yourself. After a while your workarounds become your norm, and you may not even realize how much time is spent on them. A new system that is more suited to the way you need to handle your accounting could really shave some manual work out of your day.

Like the purchase of your vehicle, no accounting system lasts forever. An upgrade to your current system or a completely new system will eventually be needed to keep up with your growing business. Though a transition may be difficult, it is worth it in the end.