Make this the year of painless payroll
One of the most important business decisions you’ll make this year is how you’re going to manage your payroll. If you’re running payroll on your own, you’re probably painfully familiar with paper time cards, Excel spreadsheets, and long hours spent in front of your computer, crunching numbers and correcting errors.
While driving the payroll bus solo offers more control, there are several challenges you’ll face in 2018 if you decide to continue the new year with manual payroll processes. So here are four things every small business owner or payroll manager needs to consider if they want more accurate and efficient payroll in 2018.
1. Manual data entry
Can you imagine life with fewer spreadsheets? Are you still constantly filling out cumbersome spreadsheets and double-checking your work for mistakes? Without a doubt, the time-consuming process of manual data entry is one of the most painful administrative responsibilities.
So if you’re changing your payroll processes, look for a solution that lessens (or completely eliminates) the need for manual data entry. There just aren’t enough hours in a day to spend precious time triple-checking you entered each employee’s hours correctly.
2. Compliance with federal laws
The Department of Labor mandates employers comply with FLSA guidelines. These include classifying employees correctly, tracking regular breaks for nonexempt employees, paying overtime (even if it’s unauthorized), and more.
Tackling payroll, while staying compliant with state and federal laws, all by yourself puts your business at risk for a wage and hour lawsuit. If you’re changing your payroll processes, don’t let these things fall behind. Look for a solution that can easily show you when employees take breaks and for how long, how much they make per hour, and when they’re approaching overtime.
3. Access to experts and resources
Unless you’re in accounting, chances are you didn’t start your small business to specialize in payroll. Running payroll without a trusted advisor or specialist to help you can lead to long hours and quick burnout.
If you’re switching up your payroll solution, look for one that comes with free resources and assistance when you need it. The best solutions have experts on hand, ready to help you master payroll, so you can save time and money and gain insights that can help you make the best decisions for your business.
4. Late and forgotten time cards
If your employees are working hard all week, they might forget to turn in their time cards at the end of the pay period. And let’s not forget those paper time cards are easy to lose and simple to fudge! This headache alone can put your company at risk for time theft.
Much like manual data entry, look for a solution that removes messy and error-prone time cards from the equation. Better yet, a solution that uses digital or automated time cards will not only be tamper-proof but easier to access (and harder to lose) from a smartphone app or the web.
So what are my options?
If your business is still small, hiring a bookkeeper to bring perspective to your current payroll processes and save you time can be a great investment. As a trusted advisor, a bookkeeper is a great option if your company is becoming more profitable, growing, and hiring new employees.
Not ready for a full- or part-time bookkeeper? Change up your payroll processes by gradually automating them. Using the latest small business technology is one of the easiest to breathe new life into your business while saving you time and money.
TSheets by QuickBooks combines accurate-to-the-second time tracking with the small business payroll tools you need to start 2018 right. Track time with TSheets, then export time data to QuickBooks. The math is done for you. Employee timesheets stay together. And you barely have to lift a finger. Together they make for simple, painless payroll.