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PUBLISHED FRIDAY MAY 7, 2021
As a small business owner, you cannot afford to get overwhelmed with rigorous tasks that you fail to pay attention to growth pportunities. We all know that there are very few tasks as tedious as managing employee payroll, especially if you have a relatively large team. But thanks to improved and advanced systems, there might just be a way out for you.
To save a tremendous amount of time and effort, you need to embrace a fully automated payroll system. It beats the manual process in many ways. In addition, you can worry less about making errors or human slips.
For businesses with a scheduling system, one of the best decisions you can make to grow your business is to integrate an automated payroll and staff management system. Here’s why.
Here are three ways integrating a payroll and staff manage system with your Scheduling Software (APP) will help your business grow:
With an automated payroll system, you can easily compute all wages and execute payment. Automated payroll services allow you to carry out your payment seamlessly without much hassle. For example, a fitness boutique studio can easily track and pay its instructors by the number of sessions they took. When this payroll system is integrated into the scheduling Scheduling Software (app) for customers, it becomes even more seamless.
However, it still remains a progressive step towards internal growth. Automated payroll systems had various kinds of payments such as salaries, hourly, commissions, bonuses, tuition reimbursements, pay raises, overtime, double-time, retroactive pay, auto payments, and wage deductions. It also takes off the burden of having to write manual paychecks. An automated payroll system can automatically generate paychecks and stubs, and also enables direct deposit.
When processing employee paychecks, it is required that you take out all the mandatory withholdings. This includes federal income tax, Medicare tax, Social Security tax, and all other state-based taxes. So, you cannot rule out wage deduction from the process of payroll processing.
Getting all of these done by hand can be a very frustrating process, at best. It takes a lot of time to compute these taxes manually. But you can save yourself from all of these by using an automated payroll system. With the tax rates properly hard-coded into the system, you can get the calculations done in a matter of minutes. Also, an automated system reduces the risks of miscalculations and tax errors that can attract fees from the IRS or the state taxation agencies.
A payroll and staff management system saves you from poring over several spreadsheets and calculating different types of payments, after which you would have to write out checks by hand. This is no doubt one of the most time-consuming tasks you can take on as a business owner. Luckily, you can get more payment processes within a shorter period when you use a staff management system like OClass to track your employees job done and other details needed to make payments.
No doubt, setting up a payroll and staff management system is a vital part of automating your business processes for better efficiency and consequently business growth.