Computer software, whether accessed locally from our computers or instead hosted and run in the cloud, is designed to make completing everyday tasks easier. One of these important tasks is the administration of employee payroll data, especially where a large number of employees are involved.
If you’re not currently using dedicated tools for calculating employee payroll, here are the five advantages of obtaining payroll software solutions that could benefit you and your company.
Accurate Payroll Calculations and Deductions
Paying employees requires details of their personal tax situations, which usually consists of a personalised tax number. Using payroll software for accountants will allow the input of this information which will in turn provide an accurate detail of how much each employee should be paid and the amount of taxes they must pay.
Increased Payroll Efficiency
Manually inputting payroll data is time consuming, especially when managing the payroll process for hundreds of employees on a monthly basis. Dedicated payroll systems provide the ability to complete the payroll process, including HRMC payroll tax computation, for a large number of employees in a short amount of time by offering access to the data required from a number of integrated sources automatically.
Comprehensive Payroll Management
Bureau payroll software doesn’t just allow you to accurately pay staff and calculate deductions where necessary. The most advanced software available, such as umbrella payroll, will allow you to generate employee tax returns and send them to HMRC seamlessly. It also enables you to produce P45 and P60 forms when required.
Integration with Time Keeping and Employee Records
All companies need to keep track of the amount of time employees spend working if they are paid hourly. And even when paid a salary, it is important to ensure that any time in lieu accrued is accurately recorded. In addition, each employee must receive a holiday or annual leave allowance, which needs to be recorded because this time off should be accounted for and paid as if it were a working day.
When using the right payroll software solutions, payroll processing for bureaus is much more efficient. This information can automatically be integrated into the payroll process by creating a seamless connection to where this information is stored.
Financial reports, whether run monthly, yearly or on an ad hoc basis, are a vital aspect of keeping track of your levels of profitability which are based on company turnover and overheads. Software that allows for easier payroll processing for accountants can provide this level of detail when required through the use of the reporting tools available within the payroll software itself.
Primo Payroll: Making Payroll for Accountants and Bureaus Easier
Primo Payroll is an advanced payroll software solution designed to fully integrate into your company’s existing record keeping systems. This allows you to access the data you require and use it to manage your employee payroll processes efficiently.
For information on our payroll software and how it could benefit your company, call us today on 0845 456 7181 to speak to a member of our team. We can also provide you with a free trial.