What Everybody Ought to Know About Simplifying Payroll
The power of automated time tracking is efficiency. Research shows that more than half of small businesses still process their payroll in house, with a majority using spreadsheets, and even worse, not using an accounting system (read as lots and lots of time spent on payroll).
While these businesses do so to “save money and maintain greater control and oversight,” the reality is sadly…. the opposite. An unfortunate turn of events.
Warning: It’s a Mad World
“This [lack of awareness] is a big payroll oversight” states TSheets CEO, Matt Rissell, referring to the Mad Men style payroll of paper timesheets and outmoded spreadsheets that are still so commonly used. “So many companies could be saving time and energy with first a mental, than a technology, switch. It’s real money and critical recordkeeping on the line,” continues Rissell.
Certified payroll expert Nancy Smyth of Sunburst Software Solutions and accounting/tax guru Bruce McFarland of L&R Tax Preparation confirm the madness, outlining up to 35 actions necessary to perform payroll on a weekly, monthly and quarterly basis when completed manually. That’s a maddening (har har!) loss of productivity and cold, hard cash across industries.
Complete Payroll in Three Simple Steps
It may seem too good to be true, and if true, then too expensive, right? According to Rissell, “Imagine taking the payroll process down to just a few clicks of a mouse. You retain all the functions, records and time entries required to keep the integrity of your payroll, yet gain added accuracy, protection and money savings.”
It’s true and all possible using the latest in cloud-based technology (online software that doesn’t require downloading, repurchasing or upgrading to bigger and better versions) and has a proven track record where customers see an ROI of up to 800%.
By using an automated, versatile time tracking solution that can work from almost any computer, tablet or phone, time is accurately tracked to the right projects, submitted for manager approval, imported into payroll software with one click “and… BAM! Payroll is done!” (direct quote from happy business owner, Brett B.)
The Tale of Two Payrolls
It really is a tale of two payrolls, one long and tedious and the other short and sweet. The good news is you are the author. Dig down into the 35 steps of Mad Men style payroll, or take part in modern man payroll, TSheets style where, with the latter, additional free time comes standard.
And while automated time tracking truly does simplify payroll, it also saves you money – even with only a few employees on payroll. Don’t leave here without calculating your savings.