Many small businesses struggle with the decision to outsource payroll or to bring it in-house with accounting software. A fully integrated software solution like the Windward System Five business management system is more than just accounting software, it provides a complete ERP for small businesses.
While there are many variables to consider, for many companies in-house payroll processing with small business management software provides numerous benefits.
Integration of Systems
Beyond accounting requirements including payroll, as a small business management software solution, Windward System Five manages everything including inventory control, POS system, financial reporting, sales and invoicing, and CRM. Choosing to manage payroll in-house with a fully integrated system enables you to oversee all aspects of your operation in one program.
An integrated payroll solution simplifies payroll processing, reduces data entry, allows for automation of applications and facilitates broader reporting capabilities.
For most small businesses, payroll is a significant portion of overhead costs and so it is absolutely essential that this expense be calculated correctly and efficiently. This is also an extremely important factor for your staff – there is nothing quite as demoralizing as an incorrect paycheque.
Calculating payroll in-house with automated accounting software provides you with complete control, allowing for any last-minute adjustments, and its integration with your other applications ensures accuracy.
With automated features and reminders, payroll can quickly and easily be processed in-house with integrated accounting software.
Outsourcing payroll can be pricy, with base account fees along with additional fees for paycheques, tax reporting requirements, etc. While there are up-front costs of investing in small business management software, ongoing and fluctuating outsourced payroll processing fees are eliminated.
Protection of information
Processing in-house payroll ensures you maintain control over confidential information such as salaries and benefits.
Outsourced payroll often requires additional fees for reporting requests. An in-house payroll system allows you to complete reports for all payroll activity as you require.
In addition, an in-house payroll system such as Windward System Five is integrated with all applications such as your sales, invoicing, and inventory software. For small businesses, this means you can run a variety of reports at no additional fee and easily have a complete picture of your costs and operations.
To learn more about accounting software, check out our past post: Beyond QuickBooks: Is integrated Accounting Software Right for You?
Small business management software
that integrates accurate payroll processing provides many advantages. Contact
Windward Software to learn more about Windward System Five and the benefits of