Online payroll services are more popular today than they have ever been before.
Thanks to online payroll, businesses around the world are saving time and money every payroll period. Are you shopping for online payroll software? Here are some of the most notable online payroll features to watch for and a free trial:
Run Payroll and Calculate Deductions
The first and most important feature of payroll systems is – of course – running payroll.
A good online payroll service lets you easily run payroll every payroll period. When running payroll, the software automatically calculates deductions for you. These deductions include health insurance, unemployment taxes, and any deductions legally required by federal and state law.
In addition, employers can add their own voluntary deductions to the software. Your company may have a stock purchasing plan, for example. You can also garnish employee wages or add overtime hours.
Once you’ve entered all employee data and necessary information, you simply run your payroll software every payroll period. ‘Running’ the software sometimes means clicking a button. Or, if you’re using a service where employees cannot enter their own hours, then you may need to enter hour data before running payroll.
Ultimately, you’re buying payroll software in order to quickly and accurately run payroll every payroll period. This is the first and most important feature to look for when comparing online services.
Multiple Payment Methods
Almost all payroll solutions let you pay employees via direct deposit. Typically, paying via direct deposit is free. It’s a popular option because employees receive their funds quickly without manually depositing a check.
Some payroll programs let you print off paychecks in-office or receive printed paychecks through the mail. However, this service typically costs extra.
If paychecks are important to you and your employees, then you’ll want to choose a payroll service that offers paychecks at little to no added cost.
No matter which payment method you choose, your employees will continue to receive paystubs.
IRS Tax Forms
Online payroll services include two important online tax forms: W-2 employee forms and 1099 contractor forms. Most payroll services support both types of forms.
However, form support varies considerably among providers. Some payroll services automatically complete forms for you and let you file those forms with a single click. Other providers only let you print off blank forms and you’ll need to manually enter data.
Typically, the more you pay for payroll services, the less work you’ll have to do.
Mobile Apps To Access Your Data On The Go
One of the most valuable advantages of online payroll services is accessing payroll data anywhere you go. If you have an internet connection, you can run payroll.
Some services make it easier to run payroll online, however, due to their excellent mobile apps. A good payroll service like Intuit Payroll offers full-featured mobile apps that provide complete access to your account.
Lower-quality providers, however, may not offer mobile apps at all. Or, the mobile apps may not have the same functionality as a desktop browser.
Some payroll providers only let users view paystubs through their mobile apps, for example, without actually accessing any payroll functionality.
By carefully weighing all of the above factors, you can make an intelligence choice on your next payroll software.