There were 151.6 million Americans employed in June 2021.
And for each of these people, payroll had to be processed.
It’s no secret that processing payroll is not many people’s favorite task. While processing payroll is a task a business can neglect, there are ways to make it easier and less time-consuming.
Read on for 5 tips that will make processing your Dallas payroll easier.
1. Create a Payroll Calendar
Having a payroll calendar allows you to keep all your deadlines in one place so important tasks don’t get forgotten. Missing a deadline such as a payroll tax submission to the IRS can incur unnecessary penalties that will hurt your business.
There are a variety of ways your business can create a payroll calendar, from using a physical calendar to mobile or desktop applications.
Regardless of which method your business chooses, it’s important to stay consistent with the selected method. Having deadlines strewn across a variety of calendars increases the chance that something will be overlooked.
2. Keep Your Dallas Payroll Policies Simple
If your business has complicated payroll policies, then processing your payroll will be a complicated process.
Try to simplify your payroll policies as much as possible. For example, you can combine all your business’ paid time off variations into a single package. Simplification like this can end up saving your business time and frustration in the future.
3. Use Payroll Software
There are many benefits to using payroll software.
Payroll software can save your business a lot of time by automating payroll processing. The time it saves means your employees can focus on other important tasks.
Payroll software is also less prone to making errors, and using software eliminates the need to hire an employee with expertise in payroll processing.
4. Pay Your Employees Electronically
You can do this in a couple of different ways. One method is to have your employee’s supply you with the routing number for their bank account. Then paying them is as simple as transferring money into their account.
The other method is to use a payment system like PayPal or Venmo. Depending on the size and professionalism of your business, using payment systems like this may not be suitable.
Whichever method you choose, paying your employees electronically saves the time (and money) it would have taken to print out payslips and deliver them.
5. Outsource Your Payroll Processing
This is the best way to make processing your Dallas payroll easier since it takes most of the work out of your hands and can save your business money.
As a business owner, it may be uncomfortable to let someone else take care of such an important aspect of your business.
However, your payroll goes to professionals who are up to date with federal and state payroll rules. In fact, the professionals you outsource to probably have a better understanding of these rules than anyone in your company.
Outsourcing also allows your business to spend more time focusing on core operations so that it can continue growing.
Have the Accfin Group Take Care Of Your Payroll Processing
Processing your Dallas payroll can be difficult and time-consuming, but thankfully there are many ways to make the work easier.
If outsourcing your payroll processing sounds like the most attractive solution, then The Accfin Group is here to help you. Contact us for a free consultation today to see how we can help your business.