The payroll software that a business owner uses is very important because it can either make the task much easier or more difficult. QuickBooks’ software has proven to be a reliable option for small, medium and growing businesses. It’s simple to use and completes tasks quickly. This, in turn, allows you to free up more time to concentrate on other business activities.
In order for a business to perform well, it needs to be administered appropriately. The owner of the business must make sure that all transactions are recorded, including payments made to employees.
Contact QuickBooks on 0861 726 657 and find out which of our packages would best suit your business.
How to set up a payroll system for small businesses
Here are a few tips on setting up a system for paying your employees.
- Know the difference between an independent contractor and an employee – Understanding the difference between these two types of labour is critical. The way you would approach labour issues such as leave and withholding income taxes is different for each and you should keep this in mind. If you have both contractors and employees on your payroll, QuickBooks’ software can help you implement a payment system to accommodate both forms of labour.
- Decide on payment dates – It would be a good idea to decide on whether you’ll pay your employees on a weekly, bi-weekly or monthly basis. This will help you set up your software accordingly. It’s also generally a good idea to pay all employees on the same day as it’ll make administration of the payments easier.
- Keep track of paid leave – Annual leave, sick days and family responsibility leave are all legal requirements for full-time employees under the Basic Conditions of Employment Act (BCEA). You should, therefore, take note of these when setting up your payroll system. Software from QuickBooks can help you compile reports based on this information and keep track of the number of paid leave days an employee has taken in a year or is still owed.
The packages that QuickBooks has on offer can help you implement a system that’s reliable and keeps up to date with tax law changes. We believe in accounting made easy and aim to help small business owners feel the same way.
Contact QuickBooks today on 0861 726 657 and browse through our payroll software packages on offer.