While bureau payroll software can make the process much easier, the implementation stage can seem quite daunting. Transferring all the data, figuring out the tax rates and where you should input the tax ID can drive anyone a little crazy. To make the task easier, here is a run down of what you should do prior to making the move!
Check if Payroll Software for Bureaus meets your requirements
Before moving to the software, you should check if the accountancy payroll software fits your requirements. There is hardly any point in opting for a software that does not get the work you need done. Some of the features you should look for in the accountancy payroll software is work timings and attendance tracking, tax filings and if it is compatible with smartphones and other devices. Write down what your needs are first; this way you can eliminate software that is not compatible with your needs.
Get all the information required
To get started with your payroll software, you will need details such as the legal name of the company and location to name a few. Don’t forget to register the company name with the relevant local bodies. Each area has different rules so you might want to check up on them beforehand.
You will also need information about the employees to enter it into the payroll software for accountants. These details include names, addresses, tax filings and so on.
Familiarise yourself with the tax rates and the deadline
A number of taxes will have to be remitted while the income tax will be withheld from the employees’ wages. And these are just two off a very long list of things you need to keep in mind. It is up to you to understand these and verify all the information before you take the leap into the payroll software.
The deadline for payroll taxes needs to be looked in too. Different employees have different deadlines and they need to be inserted correctly so the right calculations can be done by the software.
Decide on payment periods
When configuring the software, you will need to input the pay period. Basically put, this is how often your workforce will be paid. This can be on a monthly basis or on a per week schedule. If you have an existing schedule, you can go ahead with that model but if you are moving to a new schedule, be sure to correctly compensate your staff force.
Tip; some countries have specific rules governing the frequency of which your work force is paid so check if any such rules exist where you are based.
As I said at the beginning of this article, changing your payroll processing for accountants does not have to be a stressful task. By planning ahead and getting the fundamentals right, the transition can be quite smooth!
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