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8 Lessons Learned: Businesses


3 Features Your Paystub Software Should Have

One of the ways in which you can remain profitable in a competitive industry is by automating some regular processes. Among the activities that you can automate to improve your business’ profitability is payroll processing. If your company has hundreds of employees, you can improve efficiency of the Human Resources department by automating payroll processing. Any payroll automation program you use should provide accurate information related to your employees.

The data you include in the paystub is important for various reasons, including employee rights, taxation and accountability. You should select a paystub generator that will produce all the information you would need. You want a program that can generate both hard and soft copies of paystubs. Below are some important features any pay stub software you select should have.

Proper Tax Calculation
One of the key features to look for in a payroll stub software is the ability to accurately calculate payroll items. You specifically need a software with a tax calculator if you operate in different states and hence have to comply with multiple tax rules. It is also advisable to select a software that can generate accurate tax reports for the different countries where you may have operations.

When there are any changes to the tax regimen of your business, the paystub creator should automatically update the tax calculator rules. You should also be able to provide gross payroll to your employers for specific pay cycles.

When you select a software with an accurate calculator, you can be sure of paying your taxes on time to avoid penalties.

Proficient Handling of Taxes
Another feature to look for in a paystub software is the ability to process tax efficiently. For example, does the software allow you to file your business and employee taxes straight from its dashboard? Modern paystub creators will automatically file employee taxes if they have filled all the correct forms. The last thing you want is to use a software that will not be efficient in tax filing and lead your employees to have penalties at the end of the year.

You may also want a program that would allow you to submit employee benefits such as social security benefits.

Easy Access to Pay Stubs
Your employees’ pay information will usually be generated in soft copy form by the paystub creator. However, you should get a software that can produce both soft and hard copies. Some employees may need to have physical pay stubs, perhaps for record keeping or other reasons. Choose a software that will make it easy to get the information in the format you need. It should also be easy for employees to get the paystub for the specific periods they need online.

The above features should be available in any paystub creator you choose.

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