3 Features Your Paystub Software Should Have
One of the ways in which you can remain profitable in a competitive industry is by automating some regular processes. Inventory management, invoice receipts and payroll processing are some of the activities you can automate. If you are running a large operation with many employees, automating the payroll process is a must. If you will be using a pay stub generation software, make sure that it includes accurate information about the employees.
The data you include in the paystub is important for various reasons, including employee rights, taxation and accountability. If you are planning to buy a paystub generator, go for one that will generate the information you would want. The program should be able to generate both soft and hard copies of your employees pay stubs. Below are some important features any pay stub software you select should have.
Accurate Tax Calculator
Among the features you should consider when evaluating different paystub creators is the ability to calculate taxes. You specifically need a software with a tax calculator if you operate in different states and hence have to comply with multiple tax rules. If you have operations in multiple countries, it’s also important for the software to be able to generate accurate tax reports.
The best paystub creators can update the in-built tax rules to ensure your business is automatically compliant to any tax rules. You also want a software that will make it easy for you to provide gross payroll for any employee over a specific period.
A software that provides accurate information will ensure your employees and business pay accurate taxes to avoid penalties from the authorities.
Timely Processing of Taxes
Another feature to look for in a paystub software is the ability to process tax efficiently. For instance, the program should enable you to file and pay taxes in a timely manner. Modern paystub creators will automatically file employee taxes if they have filled all the correct forms. An efficient tax submission pay stub software will prevent your employees from getting penalties for missed tax filing at the end of the year.
Other features you may want in a software is the ability to submit employee contributions to various funds.
Easy Access to Pay Stubs
Paystub software usually generate soft copies of your employees’ pay information. However, make sure the software you select can produce both hard and copy pay stubs. Some employees may need to have physical pay stubs, perhaps for record keeping or other reasons. Ideally, you want a program that can produce the paystubs in multiple formats. Apart from this, employees should be able to access the paystubs on the internet whenever they need them.
When looking for a paystub creator, get one with the above features.