One of the biggest secrets to financial success for any company is having the right payroll software. But what’s right for one business isn’t necessarily the right tool for every other company out there. When it comes to choosing the right payroll software, a business’ needs are as unique as a fingerprint.
At Hacker Accounting, we work with companies every day to help them identify their accounting and bookkeeping needs, so we know what goes into choose the right tools. Here are 4 things to consider when choosing a payroll software.
Who Will Use It?
Who you purchase the software for will play a large role in which program is best for your company. If you have a dedicated payroll officer or controller, you’ll likely want a comprehensive system that has a lot of functionality built in. But if the person occupies a more general office manager role, they may need a payroll software that is simple and easy to use. They’re not likely to have much experience in processing payroll.
While anyone can be trained in any software, it may not be worth your company’s time to train a very inexperienced person in a complicated program. Consider who will be using the program and what their experience may be before making a purchase.
How Available is Product Support?
Readily available technical support is a plus with any software, but especially when you’re dealing with people’s salaries and federal tax matters — if something goes wrong, you may have to face angry employees or hefty fines from the IRS. Whatever payroll software you choose should have good support built in. Look for customer service phone numbers, chat systems, FAQ pages, and even local offices that could send support personnel to your office if need be. The more avenues for contacting them that they provide, the better the support is likely to be.
How Big is Your Company?
Large companies need more functionality and support in their payroll software than small companies do. So when choosing a payroll software, consider your company size and what the software best accommodates. Your budget will come into play here as well, as many payroll software programs charge per employee in addition to a flat-rate usage fee.
What are your Future Needs?
Some payroll software systems might be great for small companies, but become won’t be able to accommodate your company as it grows. If you decide to take on part-time employees or contractors, your payroll software will need to be able to handle multiple payment structures. Think ahead to what your company will look like in 5 years. Choose a software that will best suit those needs (and still fits in your budget).
Need help with your bookkeeping and payroll? Hacker Accounting is here to help. Give us a call at 602-375-5251 to get started.