Payroll Features for Your Business

Here's what you should be watching for in deciding among payroll systems, whether inhouse software or outsourced software or service.

Essentials

The most complicated aspect of payroll is calculating the tax deductions. Ensure the payroll processing solution has the necessary tax tables for your local area. Don’t even think of buying and then modifying one that’s designed for another tax jurisdiction. That route is fraught with peril. Buy one that works for you, right out of the box.

Will the payroll system pay your people properly? If you have special requirements, such as hourly rate premiums under certain conditions or additional payments or deductions under special circumstances, check to see the payroll system can handle it.

Another aspect is report and forms preparation. All payroll solutions will prepare pay checks and a payroll register listing the payments and deductions. Just as important is compliance with government rules and regulations. You should use solution that creates the necessary year-end tax slips and summary reports.