Codestone

Category: Accounting & Financial Software

Companies which utilise accounting software to manage their company payroll will find that doing so can improve the efficiency of their business.

A new report from Inc. Magazine has observed a growing number of small businesses turning to software solutions to automatically gather and aggregate payroll data.

It noted that this allows firms to ensure they are paying their workers correctly and on time, as well as making it easier to account for issues such as overtime pay and deductions for lateness.

In addition, the process of data collection will become simpler and less time-consuming via the use of accounting software, while the need for printed pay slips can also be eliminated.

Curt Finch of business software firm Journyx said: "Time is money. The big advantage of a payroll automation system is this - what are you doing if your payroll is not automated?"

Earlier this month, finance expert Bonnie Lee told Entrepreneur magazine that accounting software also makes it easier for companies to manage their taxes.

Posted by Victoria Browne