If you’ve ever attempted to run a small business payroll system yourself, you will know immediately that it is a process packed with potential pitfalls and time consuming tasks. Not only are you working on an area which you may not have the most specialized skills in, but you’re also responsible for paying people their wages, which in itself is a huge responsibility!

For that last reason we just mentioned, getting payroll right is vital. Your employees don’t spend all month at work for nothing, they expect to be paid the right amount, on time, and rightly so! In addition, accidentally overpaying an employee can be a time consuming issue in order to recoup the money back, and can be costly in the short-term for the business. If you want to keep your employees happy and morale high, while saving time and money, then it’s important to get your payroll system as right as can possibly be.

You have many options, and most small businesses opt to run payroll software themselves or outsource to an accountant or book-keeper to run the entire process on a weekly, fortnightly, or monthly basis, depending on how often you pay your particular employees. There is another option, one which has many benefits and also saves a huge amount of time. Why not use cloud accounting for your payroll needs?

Why Not Use Cloud Accounting?

Cloud accounting is what it sounds like, it’s all of your financial transactions, including your payroll, all done virtually and stored in the Cloud. You probably already use the Cloud for storing personal items, e.g. photos or videos on your cell phone, or you might use Cloud storage within your business, in an attempt to go paperless and save space. Opting for the same route towards your payroll saves you a huge amount of time and effort.

The reason that payroll is easier in the Cloud is simple - it’s all done in real time and you cut out the time consuming parts. Your cloud accountant and yourself will work simultaneously, and whatever one person changes or adds, the other person will see in real time. This means there are no misunderstandings, no having to wait to send important messages or emails over to the other person and for a task to be completed, and far less room for misunderstandings or problems. With a subject as important as paying your staff, cutting out the risk of error is vital.

You can also add new employees quickly, and your accountant will be able to see in real time what you have done, or perhaps remove an employee when someone leaves. You can generate and print out wage slips from your software and keep records of these in the Cloud, without clogging up your paper-based filing system.

Put simply, doing your payroll in the Cloud is a far easier, and a way more time efficient way to ensure that your staff are paid correctly and on time, while keeping the records that you need to keep.

Contact your Accountants today click on this link —> https://capexcpa.com/contact

- The Capex Team