Payroll processing isn’t the easiest feat. That’s why it’s important to get any help you can. Here are 4 tips that make it as effortless as possible.
The complexity of the modern business landscape can make once simple processes taxing. After all, consider how much more difficult communication becomes with a remote team spread across the country or world.
Of course, payroll processing was never a particularly simple process. The number of moving parts makes it a chore even in companies with well-oiled processes in place. For small businesses or startups without those processes, it proves a twice-monthly nightmare.
The good news is that you can take steps that will make it less awful. Keep reading for some simple tips for streamlining your payroll processing.
1. Leverage Technology
Paper punch time clocks might have worked fine in the increasingly distant past, but too many people work remotely at least some of the time. Time tracking software not only spares everyone tedium, but you can usually import the information right into your payroll system.
Rather than fuss with hours of manual data entry, you hit a key or click a mouse and payroll knows how much everyone should get.
2. Schedule Time for Handling Payroll
Even if payroll runs flawlessly every pay period, you should still block out time for it every payday. Imagine the stress if you got a text about a payroll problem while in a major meeting with a new client or vendor.
Blocking out that time means that you can handle any problem that crops up immediately because you are on hand. If everything goes smoothly, you have a couple of free hours in your schedule that day for catching up on things.
3. Use Direct Deposit
Direct deposit is often a pain for a business owner to set up initially, but it makes life easier as your company grows. It’s cheaper than cutting paper checks twice a month, every month.
Nobody loses or damages their direct deposit on the way to the bank. Plus, it almost always gets money to your employees faster than a check. Any remote workers in other parts of the country or other countries will appreciate that you use direct deposit.
4. Digital Pay Stubs
With software and direct deposit automating so much of the process, you might forget about pay stubs. After all, those usually print out with paper checks. Printing off pay stubs every two weeks will get costly over time.
You can avoid those problems by providing digital pay stubs. You can create and deliver them with a digital pay stub service, like https://www.paystubcreator.net. Again, it’s especially helpful for anyone working remotely elsewhere in the country.
Parting Thoughts on Streamlining Payroll Processing
Streamlining your payroll processing doesn’t require any particular creativity on your part. You needn’t break new ground, just take advantage of existing software and deposit options. Just make sure you schedule has you on-site on payroll day to deal with any problems if they happen.
Looking for other potential improvements now that you know how you can streamline your payroll processing? Check out our post on tech services that can benefit your business.