Payroll software can simplify managing your small business
4 min read
August 18, 2021 • Block Advisors
You’ve built a business that allows you to do what you love, so why spend your time crunching numbers and manually writing checks? It may be time to consider bringing in support to help manage important business tasks, like payroll.
There are many alternatives to manually calculating and planning, and we’re here to help you consider a payroll software or app solution (like the Wave app) that meets your small business needs so you can keep your focus where it really matters.
What is payroll software?
Manually calculating payroll can be a daunting task, especially if you’re unfamiliar with payroll tax rules for small businesses. Payroll software can significantly expedite your payroll process and improve accuracy by automating the process of paying your employees and generating reports for tax purposes.
Depending on the payroll software you select, it can include automated payroll deduction calculations, direct deposit, tax form generation, self-service pay stubs, generating tax forms for employees, and payroll reporting.
Whether you have full-time salaried employees, part-time hourly help, or contractors, payroll online services are nimbly able to account for many different scenarios.
What can payroll software do for my small business?
1 – Save valuable time with payroll for small business software
Keep your focus where it belongs and maintain accurate books and stay compliant. With payroll online services, you can run payroll within a matter of minutes and maintain a detailed ledger of wages paid, deductions, and withholdings.
2 – Keep an accurate, detailed record of payroll expenses through payroll small business software
Rather than manually calculating payroll, payroll software can track time and accruals. By using payroll online services, you’ll have access to detailed reports on your business’s wage expenses, keeping you well-informed when budgeting and making decisions for your small business.
3 – Help simplify tax filing with payroll software for small businesses
With payroll software, many of your important small business tax forms and documents can be easily generated. Payroll software for small business can help streamline your tax prep, which is a key benefit of using an online payroll service at tax time and during the year.
How to select an online payroll solution for your small business
At a minimum, your payroll software should do basic calculations and tax payments, but there are many other services available. So when looking for payroll provider for your small business, you want something that is efficient and easy to work with but gives you room to grow. It is important to find a solution that is:
Flexible enough to meet your small business payroll needs
With online payroll solutions like Wave App, you pay for what you use but also have access to additional bookkeeping services, leaving the door open for additional support in the future.
Plus, when you use the Wave app for your payroll needs, your Block Advisors tax pro can pull the details needed to prepare your taxes.
Every penny is valuable in a small business, so you want to make sure you’re only paying for what you need. Online payroll service fees can vary based on subscription costs, frequency of payment, number of employees, and other factors. You want to make sure the payroll software for small businesses is right for you.
Most small business owners don’t inherently know how to run payroll, so it’s something that takes skill and knowledge. Many online payroll services have accessible support resources to help you maximize their services.
Look for a small business payroll service provider that understands that you may be navigating uncharted waters of payroll on your own and offers support for many steps along the way; from paying an employee to filing your taxes.
If you’re looking for more support than a DIY online payroll software, you can always get help from Block Advisors. You can work with a payroll professional to stay compliant and pay employees – leaving you more time for what you love. Get a free payroll consultation now.
Is payroll software for small businesses for you?
Whether you’re interested in managing payroll on your own with an online payroll software service like Wave, or need help from a small business payroll and tax pro at Block Advisors, you have options that will allow you to eliminate hassle and keep your focus on what you love.
See how we can help with your payroll needs and answer your payroll questions.