Cloud-based
payroll services
So what is cloud-based payroll, and how will it benefit you?
To kick start this off, when using Angel Bookkeeping & Payroll Services, you’ll have more access to features and control over costs when using an off-site system, but to elaborate further, we’re going to cover the following benefits that come with cloud payroll for both small businesses and enterprise; these include:
One single solution
The ability to scale
Data in real-time
Paperless
Deadlines met week on week
The ability to scale
Compliance requirements met
24hr employee access
Why switch to cloud-based payroll processing?
More and more businesses are moving their payroll systems online to take advantage of cloud-based solutions, which offer a number of benefits. These include increased efficiency, reduced costs, and improved compliance.
To give you a better understanding, there are two types of systems available to businesses that want to handle their own payroll: on-premise and cloud-based.
These platforms are designed to make paying employees much easier for business owners while still ensuring accuracy and timeliness.
Although they share some commonalities, there is a big distinction between these two types of payroll software programs. They both have their own individual strengths, but also weaknesses that could make them less dependable and incapable if not rectified. This is particularly apparent with on-premise payroll software, which research has shown to be much less efficient than cloud-based options.
Another aspect to consider is the initial cost of the payroll software. For on-premise applications, there are often large fees which can be unappealing for small businesses, that don’t have enough money saved up.
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Cloud-based payroll systems – the benefits
Businesses have always found payroll management to be a difficult task. The individuals responsible for running payroll can often run into problems that can create a variety of issues.
The following are some of the benefits of a cloud payroll system:
One single solution
Having to manage HR processes on multiple different platforms is not only impractical, but it also takes up a lot of time, however, Cloud-based payroll software has the ability to offer a wide variety of HR management needs.
Not only does this solution streamline payroll, but it also offers time and attendance, HR, and benefits administration capabilities from a single console. This means that you won’t need to use multiple systems, which will save you time and ensure data accuracy.
The ability to scale
With an on-premise system, your business is tethered to a solution that will likely never change.
It will inevitably fail to keep up with your business’s growth and lack features that your expanding company needs.
Cloud-based payroll software is perfect for booming businesses because it can expand along with your company. This helps maintain business growth by storing data electronically, which eliminates paper processes and the expenses that frequently obstruct progress.
Furthermore, users can upgrade and customize their platforms to better suit their needs. As an organization grows, these systems can be expanded to accommodate them.
Data in real-time
More often than not, payroll processing errors come from having to do everything by hand, like data entry.
Companies can constantly monitor employee data as it’s being processed in real time with cloud-based systems. The fact that users don’t have to manually input information results in better control over human capital management and decision-making.
All of the information you need is provided in easy-to-read, customized reports that can be generated on demand.
Paperless
The average payroll worker’s office is crammed with stuff, from bulky file cabinets to disorganized cubicles.
Cloud-based payroll software not only declutters your work environment but also helps save the planet by reducing your business’s carbon footprint.
Installing these systems can help you save money and do your part for the environment. Reduced or, in some cases, eliminated by having a system that ensures all necessary forms are filled out and notifies employees of any missing paperwork.
Deadlines met week on week + compliance requirements met
The two most important deadlines that payroll managers have to meet are ensuring staff are paid on time and tax filing deadlines.
If you don’t deliver employee salaries on time, it can hurt employee morale and productivity.
Companies that do not have a flexible payroll system could face legal complications and heavy fines from regulators.
Cloud-based solutions give users automatic updates on any changes in the law, as well as their compliance status. This way, businesses can always stay up-to-date and make informed decisions about their choices.
Data security
It’s important to keep employee information safe and secure. Data theft or system crashes can throw a wrench in payroll processes.
When on-premise solutions are employed, data loss is more likely to occur. Cloud-based tools don’t have this problem, as this is an area in which they excel.
The invention of cloud technology has both made data storage more secure and easier to share with those who need access.
24hr employee access
Outdated payroll systems make it hard for relevant users, like managers, to access needed information. Additionally, these manual systems keep employees in the dark about their own data and work progress.
However, many companies are now using cloud-based payroll software, which gives employees access to their own records.
This also gives HR personnel more time as it takes some administrative responsibilities off their shoulders.
Record keeping
Payroll management encompasses more than just issuing payslips and ensuring regulatory compliance.
Not only does keeping records help during an audit, it can also prevent one from happening in the first place. If there is evidence of a problem, businesses are less likely to be penalized because they have done their due diligence. Furthermore, allegations made by employees are easier to dispel when detailed records exist.
This system can also be accessed by employees, making it much easier for payroll to do their job.
Cloud-based payroll software simply trumps its counterparts when it comes to data security and accessibility.
Cloud-based payroll software
Brightpay is the leading payroll provider for accountants and businesses and the preferred software of Angel Bookkeeping & Payroll Services.
Looking for a reliable, easy-to-use cloud-based payroll software solution? Look no further than Brightpay! As the leading provider of payroll services for accountants and businesses, this software offers a comprehensive range of features to help simplify your payroll process. Whether you need to manage multiple pay runs, calculate taxes and deductions, or create detailed reports, Angel Bookkeeping & Payroll Services and Brightpay have you covered.
With its intuitive user interface and Angel Bookkeeping customer support, Brightpay is the perfect choice for busy professionals who need a reliable payroll solution that can keep up with their demanding schedules. Plus, as it’s completely cloud-based, you’ll be able to access your payroll data anytime, anywhere – no bulky software or servers required.
Why move away from on-premise payroll to online payroll software?
So why shouldn’t you use on-premise payroll software?
While this statement may appear controversial, there are a few reasons why current payroll management trends favour cloud-based online payroll service platforms instead of these products.
Here are some of them:
IT personnel are required to maintain the system
On-premise software is installed on company premises, as the name suggests. Furthermore, they need system maintenance that only IT experts can do, resulting in extra costs for any business.
Data security
With on-premise payroll solutions, users are not given regular back-ups of their data like they would with cloud-deployed tools. This puts the data at risk of being lost if the system crashes or becomes corrupted. Data loss is a huge problem for businesses, especially when it comes to employee information.
Little to no, mobile optimization
With on-premise payroll platforms, users are always tied to their office computers in order to access the payroll software. However, with a cloud-based solution, users can log in and process payroll from anywhere – even if relevant staff members aren’t able to be physically present in the office. This type of flexibility is one of the main reasons why companies make the switch to cloud-based solutions.
Limited features
Though it would be inaccurate to say that lack of features alone makes on-premise software unworthy of consideration, as they did offer excellent payroll capabilities during their time and still do to some extent, new tools and functionalities provide users with benefits that cannot be found through on-premise means. These include real-time, mobile optimization, and regular backups.
Payroll outsourcing
There are many benefits to payroll outsourcing, as opposed to on-premise applications.
Payroll outsourcing not only gives businesses a compliance edge by making sure their systems answer to the latest legislation, but can also help cut payroll costs while promoting higher efficiency – ideal conditions for many types of organizations.
Although there are many advantages to payroll outsourcing, it’s not perfect. In fact, there are a few common problems that can occur when businesses outsource their payroll.
Angel Bookkeeping prides itself on avoiding such issues, but just to make you aware, let’s find out what they are.
Resistance from in-house payroll teams
People often shy away from change and elect to stick to comfortable, familiar systems – even when those systems are not ideal. When it comes time to transition your payroll team over to a new system, you may encounter resistance. While the new system offers speed and mobility improvements, employees can be worried about things like a lack of control over information or job loss.
Disruptions to operations
If you don’t have a clear change management program and existing systems need to be revised, migrating to a new payroll service could interfere with ongoing business operations.
Concerns over data security
A significant downside to payroll outsourcing is the threat of data breaches. Organizations are required to give these services access to a variety of private employee information, any of which could be compromised. Make sure you thoroughly research an outsourcing company’s security measures before agreeing to use their services.
Inconsistent work quality
Although some payroll outsourcing firms guarantee high-quality work, many of them are well-known for providing inconsistent results. This might include features like inaccurate salary calculations and tax deductions that end up creating more workloads for the companies who hire them.
FAQ’s
So what are the best online payroll services?
Simply put, the best online payroll services are provided by Angel Bookkeeping & Payroll Services.
Is Quickbooks accounting software any good?
Quickbooks is fine to use, but Angel Bookkeeping & payroll Services highly recommend Brightpay as a better solution.
What is meant by payroll tax calculation?
Payroll tax calculation refers to the process of calculating the payroll taxes that are owed by employees or employers.
What is meant by direct deposit payment?
Direct deposit payment is a method of paying employees electronically instead of by paper cheque. This can help to streamline payroll processes, improve accuracy and reduce costs for employers.
Is there any free payroll software available?
Yes, however, this would require you to handle all of your own payroll processing manually, which can be a time-consuming and complex process.