Using a payroll software program is very important nowadays for accountants and finance professionals. Payroll programs are designed to make it easy for accountants to calculate the salary of each employee, including their overtime fees and any other amounts that they might be owed. Previously, all the work was done by hand, and accountants had to make a long list of calculations to determine the pay owed to each employee. Apart from the base salary, many employees are also owed overtime, which is a bit more complicated to calculate. Using a payroll software program will make your life extremely easy, allowing you to calculate the amounts owed to each person. Here are some of the main features that you get from a decent payroll program.
Client Billing Module
There is a dedicated client billing module installed in the most powerful accountant payroll software programs, allowing accountants to bill their clients accordingly and to determine the number of employees that have worked on a particular project. This will make it easy to determine the amount of money owed to each employee accordingly for the work they have done. A client billing module simplifies the entire process of generating bills for the clients, and will make sure that your cashflow keep coming in. Most importantly, it mitigates the need to create and send hundreds of different invoices every month or so.
Dedicated Payroll Processing
Most importantly, the company that manages the software program will also take care of your payroll processing needs. There is a dedicated support ticketing system here that you can use to process the payroll along with a status-tracker option that you can use to find out how much money you have to pay each employee. All of your email communication will remain in one place and a proper audit trail will be kept of each thread until it has been closed to ensure that all requests are completed accordingly.
Employer and Employee Portals
Modern accounting software programs are cloud services through which you can handle all information related to the company’s payroll. You do not have to worry about investing money in dedicated servers or worry about configuring the server to meet your needs. Instead, the software can be updated each month accordingly, and the latest updates are going to be published on the company’s website.
Employees have the option to update their personal details, download previous payslips, and even submit their P60 forms online. If you are running a large company, you have the option of setting up a private cloud from where you can receive all of the benefits of a public cloud.
There is also a comprehensively-maintained communication module through which you can stay in touch with all your employees. You can use the module to send out holiday greetings, as well as important notifications that are to be circulated in the office. These are some of the main features of a payroll-processing software program.