3 Features Every Business Owner Should be Using for Payroll

Does it ever feel like there aren’t enough hours in the day? Nonstop emails, phone calls, and questions during the day can leave us so busy we can barely think. This is especially true when you are trying to run a successful business. Time is our most valuable asset yet we tend to waste it on processes that don’t save our business money.

Sometimes, payroll can be viewed as one of these processes. Every business has to do it, yet most are so busy they don’t take time to review it. Having the proper features within your payroll software can save you time and potentially money. Here are three must have features you should be using while doing your payroll.

Leave Management

Have your employees electronically request time off. If you don’t have a leave management tool do yourself and your employees a favor and look into it. Eliminating paper requests is a much needed step toward saving time. It will allow your employees to better track how much time they have left and allow you to better manage their requests.

Approaching Overtime Reports

Reporting features within a time and attendance software can save you loads of time. There are many features that are worth looking in to, but my favorite one is the approaching overtime report. If you manually calculate hours on a timecard you may miss out on catching your employee’s that are approaching overtime. If you have multiple employees, you may find this task daunting every week. Leading you to spend hours of your own time manually calculating and adding up hours, when a simple report in your software can be run in minutes.

Tax Management

Nobody likes paying taxes; it can be a stressful and tedious task. The worst feeling is learning you made an incorrect payment, or even worse, possibly forgetting a payment all together. Missing or incorrectly paying a tax can lead to spending hours on the phone correcting a needless mistake. Having your payroll software automatically pay your taxes and guarantee them against penalties is a wonderful feeling.

Time continues to be the most valuable asset. By utilizing leave management, approaching overtime reports, and tax management you will improve your business processes and save some much needed time.