Which Cloud Payroll System Is Right For You?

Selecting the right cloud payroll system can turn out to be easier if you only pay attention to some important factors. The following are some things that you can take into consideration.

If you have already made a decision in using cloud payroll system to run the payroll processes of your business, you may be facing difficulties in selecting a dependable cloud payroll system. One possible reason for this is the presence of several options out there. To make a wise business decision, it is very important to know, first and foremost, what it is that you are looking for.

Selecting the right cloud payroll system can turn out to be easier if you only pay attention to some important factors. The following are some things that you can take into consideration.

What are the costs involved?

If you are new to cloud payroll system, you may not have any idea how much it cost these days. If you only run a small business, you may not be willing to spend a lot of money right away. You may want to start first with an affordable service that can get your tasks done. When deciding on a cloud payroll system, the cost should be given a priority.

Make sure that you are aware of potential hidden fees which may be unintentionally ignored during the comparison of your initial payroll service cost. You may end up choosing a provider right away, and discover later that there are hidden and extra fees, not knowing anything about it. This calls for the need to read the fine print carefully, understanding fully what features are also included in the stipulated price.

It is also expected that cost increases as you add more features. For instance, if you want a system that will take care of filing and remitting payroll taxes, you may have to pay extra if these services are included in the basic package. Cost can also increase as you add more employees to your business.

Services and Features

Now that you have already tackled cost, which is one of the most important features, given that it involves financial preparations, the next thing that you can look into are the services and features that are included with the offer. While cost is important, you would definitely want to make sure that the system will perform the task that you paid it for.

Here are some features that should be included as basic inclusions:

Pay Period

What is your schedule of pay? It is recommended to select a cloud payroll system that will allow you to pay your employees whenever you want to. For example, if your pay schedule is weekly, you may want to avoid a payroll system which will charge you every time you run payroll. This is because you might have to pay more money if you have shorter pay periods. Rather, choose one that will let you pay a fixed rate, regardless of your pay period.

Methods of Payment

Which payment method do you prefer for your employees? Pay cheques, payroll cards, or direct deposit? You would surely want your cloud payroll system to have the capability to accommodate the way in which you pay your employees.

For instance, if you are used to paying your employees through direct deposit, you would need a system which offers direct deposit for free, because direct deposit, in itself, comes at a specific cost. On the other hand, if you prefer pay cheques, make sure that you use a software that fully supports it.

Taxes

Whether via manual or automated payroll processing, the process involving deposits and filing of taxes can consume time, and may even be confusing. If you are interested in running payroll without having to worry about dealing with payroll taxes, select a plan that does the depositing and filing of taxes for you.

Supplemental Wages

If you offer bonuses, tips or commissions to your employees, you definitely need a cloud payroll provider that can accommodate even supplemental wages. These wages are taxed and recorded differently compared to normal wages. Some providers deal with the recording and remitting of taxes on the supplemental wages for you.

Technical Support

When using a payroll system, you have full control over the entire payroll processes. However, from time to time, you may encounter some scenarios which require help. A good cloud payroll provider is one that will not leave you alone. They are those that offer a dependable support service, making you feel more confident and comfortable in running your payroll system.

The good news is that a lot of payroll systems also offer customer support. They usually come in the form of phone support, chat, email, and others. Some even help you get started. If customer support is something that is very important for you, you may want to compare the levels of support when selecting a payroll system.

Level of Difficulty

As a business owner, it is not a guarantee that you know everything, including the ins and outs of payroll. If you own a small business, you may be an expert in your own business, but not in payroll. By implementing a payroll system which is easy to understand and makes sense is extremely important. Some systems can get really challenging, even requiring some knowledge and skills in order to operate them.

Determining the level of difficulty that these systems may pose is very important because it may jeopardize the way you use the system. It is best to choose a system that easily makes you feel confident when using it, such as those with a small learning curve. This will also save you a good amount of time and money.

Security

Security is another important feature that you need to look into when choosing a cloud payroll system. After all, you need to entrust to this payroll system some confidential information regarding your employees, and your business as a whole. It is important that you know how your provider secures all information at hand. This may involve the use of high-security encryption features, as this will allow you to feel confident that your information is safe.

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