What payroll software is right for your small business?

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your small businessUsing small business payroll software could transform your day-to-day processes, but how do you know which package is right for you? It can be difficult to choose a software provider when there are so many out there, but by spending a bit of time on the research you can find your perfect match. If you have no idea where to start, then this blog can help you to start making those all-important pros and cons lists. Whether you need payroll software to manage your growing number of employees or are craving an easier way to manage your taxes, there’s a program out there to suit your needs.

Here are some factors you must consider before making your final decision:

Features

The features of payroll software are going to be the first thing you look at when considering your options. While you probably know what features would help you to run your business more efficiently, do you know what features you don’t need and which ones you might need in the future? 

You never want to pay for more than you need at the beginning, especially if you’re a small business and aren’t sure how quickly you’ll grow. But you also don’t want to get stuck with software that can’t be upgraded or customized. Look for a provider that offers easy upgrades just in case your needs change in the coming months or years.

Price

It goes without saying that you should choose software that’s within your price range, but have you paid attention to any increases in charges further down the line? Because online software typically involves signing up for a monthly subscription, you need to look out for hidden costs. Sometimes providers will have attractive joining offers for the first few months, but they might hike up their prices after this period. If you’ve committed to a year or more, then you’ll have no choice but to pay. It’s always best to choose the software you can afford in the long run.

Security

If you want employees to be able to access their details within the payroll system, security has to be a priority. Make sure that the package you choose allows individuals to have limited access to their own accounts. Employees shouldn’t be able to view the whole payroll system and they should all have their own passwords to avoid security breaches.

Accessibility

Are you always on the move? If your small business is remote or you travel frequently, it’s a good idea to opt for online payroll software that can be accessed from different computers or even your mobile phone. Remember, your payroll software’s security will only be as good as the internet connection you’re on, so avoid logging in on suspicious networks that anyone can hack into. However, it’s always good to be able to download information that you really need for a meeting just in case the Wi-Fi fails you.

Whichever software provider you end up choosing, make sure you do your research carefully and bear these factors in mind.

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