3 things to keep in mind when choosing payroll software
Like with most things, there is a difference between good payroll software and bad payroll software.
These things might not always be so obvious at first. You have to know what to look out for. It can be hard if you’ve never had to do this before.
That’s why we’ve put together the top three things you need to keep in mind when you’re picking a payroll software.
So long as you look for these three things, choosing a payroll software will be a breeze.
1. What do you need your payroll software to do?
It sounds simple but every payroll software offers slightly different things.
You need to work out what you need your software to do.
We’ve created a list of functions that you might look for.
- Cloud based
- Ease of use
- Integration with accounting software
- Compatibility and data syncing across web app and mobile app like Payroller software
- Track and edit leave reports
- View/edit/send payslips
- Add/edit employee details
- Add/edit overtime
- Add bonuses
- Edit pay runs before and after completing
- Edit superannuation details
- Produce reports and summaries
- Edit payment options
Go through these and work out what exactly it is that you need.
2. What is your budget for payroll software?
It goes without saying that your budget will most likely be the deciding factor between you buying a certain software and you not.
There are a lot of expensive payroll companies whose prices just don’t work for small businesses.
Don’t fret because there are affordable options out there but it can take a bit of looking to find them and often they aren’t a major company.
When looking at a company’s pricing, be careful to see what is included in the costs as most of them have hidden costs that you don’t always notice upon first glance.
Have a look at what isn’t written because those are the things you’ll usually need to pay for later.
Also, keep in mind where your business may be in the future. Check what the costs are to upgrade plans or whether you’ll need to upgrade at all in the future if your business grows.
Quite often prices jump a lot when you go from the basic subscription to the next option up.
3. Is your payroll software STP ready?
If you’re an Australian small business, you can not ignore this.
The Australian Taxation Office (ATO) has brought out laws that require ALL Australian small businesses to be using Single Touch Payroll (STP) software. This includes micro and small businesses with 1-20 employees.
However, you need to check that any software that you’re evaluating is STP-compliant as you’re the one who will be penalised if you’re not using STP-compliant software. Find out why Payroller is trusted by thousands of Australian employers.
Learn more about Single Touch Payroll (STP)
What is Single Touch Payroll (STP)? Find out everything you need to know about STP Phase 2 in our guide.
Payroller is simple payroll software for any business type. It’s simple and cost-effective. Try out Payroller for free today.