Are you considering outsourcing some of your accounting needs? If you’re being overrun with paperwork and find that small errors in calculations are costing your business time and money, it’s certainly time to consider alternative solutions. But what questions should you be asking before you make the switch?
When it comes to sensitive and confidential information, it can be daunting to imagine sharing that kind of data, even though it means lightening your workload and reducing costly mistakes in accounting. So let’s look at some of the crucial questions you need to ask before outsourcing your payroll.
Will it be accurate? You already know that human error can be costly and potentially devastating when it comes to your cash flow. And the consequences of incorrectly paying an employee can be serious. When it comes to outsourcing your payroll information to a software system, accuracy is high on the list of concerns. Fortunately, when you switch your payroll over to an automated system, the computer leaves no room for error. Calculations and reports generated will be precise and immediate, so that not only are you saving time and money, but you will also gain the capacity to look over the data at any time, which allows for you to see any inconsistencies in hours or pay entry, and to catch them way before they become an issue.
Will it be time-consuming? Handwriting timesheets and payroll calculations takes a lot of time and focus. Paperwork can easily get out of hand, making the search for a vital piece of information frustrating and tedious. Switching your payroll data over to a software system means that inputting hours and wage information is quick, gets saved to prevent redundant facts and figures, and makes it easy to recall any document you may need at any time. Apps are created with ease of use at the forefront, so anyone in your company can input their time quickly and efficiently, with much less effort and much more accuracy than any of the old-fashioned methods of payroll procedures. Added features like time-tracking within the software also ensure faster and more accurate hourly data. You can be assured that you are preventing both time theft and that your employees are being paid fairly.
Will it be expensive? Worrying about a cost increase is understandable. With the explosion of new accounting software on the market and the ensuing competition between apps, costs have never been lower. For just a few dollars a month, you can outsource your payroll needs. Stats show that businesses can be overpaying their employees by approximately 4% due to disparities between time records and an employee’s actual time worked. It is much more cost-effective to retain a service which is unfailingly accurate.
Will the transfer be a lot of work? The process of switching over your accounting information can certainly feel intimidating, particularly if your business is large and there is a lot of data. Rest assured that with the consumer in mind, accounting softwares have established simple and immediate steps to sync your documents and information. Seamlessly share information between integrated accounting apps for maximum cost saving benefit. Often, it just takes a few clicks to share your payroll records. Nothing could be easier!
Will my information be safe? This is an important question that cannot be overlooked. Can you trust a company or its program(s) to handle your business’s most sensitive and confidential documentation? Be sure to thoroughly investigate the security features of any application you are considering for your payroll outsourcing. This is another benefit to the large proliferation of electronic accounting systems: security is placed at the top of important features. Safely storing your private payroll information is now nearly foolproof if you take care to choose a system which utilizes the most cutting-edge security features. Forget filing things away in an office or folder, where documents and personal information can be accessed by anyone, and entrust your information to a system which has constant protections and security firewalls in place to guard your data from attack.
Time Tracker has features which effortlessly meet all of your payroll needs. Add it on to your current accounting software for added benefits to give you back your time and money. Create time entries, run multi-timers for more than one task, and use the weekly time sheets to enter work schedules in blocks. GPS and global time-zone features ensure that you will know where your employees are at all times, how long their routes should take, and give them the ability to input their hours at any time. You will be at ease with the knowledge that you are not over- or under-paying anyone with the admin feature, which allows for timesheet information to be approved, edited, or questioned from within the app.
Know exactly where your time goes. Expense entry reports means knowing the status of client invoices and which of your employees need to be paid. Easily generate reports to see which of your customers earn your company the most money and how much your company has spent on each of your customers in turn.
Pricing is cost-effective and includes a variety of options for the size of your business and its individual needs. Save hours, money, and time by outsourcing your payroll.
Time Tracker includes security features like SSL, which means your information is encoded with 256-bit encryption. Security patches, intrusion analysis, constant backups, and network security work in tandem to protect from outside threats and data loss. We have partnered with companies like Amazon and Stripe to ensure the highest level of safety for your most confidential information.
Integrate with your accounting software in minutes. We will even do the work for you! Start your free, 14-day trial today. No credit card required.