Today’s bookkeeping and accounting software can do amazing things, including automating processes that may have once taken up a significant amount of time for your accounting department or tax preparation service. In today’s digital world, it is not uncommon for small business owners to turn to software that can streamline payroll to ensure that employees get paid, taxes get withheld, and PTO is tracked efficiently. If you’re considering taking a more digital approach to your payroll, consider the following elements that can benefit from automation:
Most companies now pay their employees through direct deposit, because it reduces the need to invest in physical resources like paper checks, and it ensures that employees get paid on time every pay period. Automating these digital money transfers can eliminate any headaches you may have on pay day and reduce possible errors in payroll distribution.
Your payroll software may allow you to automatically calculate withholdings amounts and pay them directly to the appropriate agency, so you never have the worry of getting fined for failing to submit payroll taxes. This technology can also alert you to tax rate changes and adjust withholdings accordingly.
Tracking PTO and Sick Leave
Providing your employees with paid time off and sick leave is not only mandated by law, but it’s also an essential step for making your employees happy. Payroll software can help you automate PTO tracking and sick leave, ensuring that employees are properly compensated for these days and deducted from their PTO totals.
If your small business simply isn’t large enough to sustain a bookkeeping staff or you simply want to ensure that your payroll is done right the first time, contact Kalil & Associates Accounting Solution to discuss the financial needs of your business. For more information about our full-service firm in Tucson, give us a call at (520) 628-4264.