How to manage your small business payroll like a pro
Payroll is typically the number one concern for many small-business owners worried about getting it right. With suitable software, getting payroll right shouldn't be difficult.
Tip 1: Invest in the best small business payroll software
The right payroll solution will automate the whole process for you, taking care of things like tax calculations, generating payslips for employees, keeping up with legislation, and providing information for end-of-year tax returns.
Tip 2: Get professional support for your payroll software
If your small business uses payroll software and a technical glitch is preventing colleagues from being paid, getting professional support will help you avoid stress and embarrassment. So, always check that online or telephone support is part of the deal and available.
Tip 3: Become a stickler for getting payroll right
Take time to set up your employee details correctly on your payroll software, such as start dates, up-to-date addresses, dates of birth, and so on. It's best to fix these issues now because they could lead to problems down the line.
Tip 4: Invest in payroll software training
If you use payroll software, taking a short training course could help you save time and be more efficient. Sage runs flexible training, including online courses aimed at helping you get the most out of your payroll, time management, and HR software.
Tip 5: Set up relevant notifications and alerts
Take the time to set up your payroll software, so it notifies you about important payroll and even HR dates and what you need to do next. This proactive measure will help you address problems with payroll before they arise.