BUSINESS PAYROLL Best Tips for PENSOFT

BUSINESS PAYROLL With a New Year just started, it’s a good time to take a fresh look at how you manage your payroll operations. There is no way to avoid many of the tasks involved in managing payroll operations, but there are ways to make it more efficient so you aren’t reinventing the wheel PENSOFT

TIPS FOR 2013 I. Set up processes II. Examine cost-benefit of your current system III. Acquaint yourself with the alternatives PENSOFT

I.SET UP PROCESSES  Document the steps and deadlines involved in:  running the payroll  onboarding a new employee in the payroll system  closing out payroll for quarter end and year end  filing payroll related taxes and reports  Follow the pre-set steps of the processes consistently. Allow some room for adjustment if it is necessary PENSOFT

II.EXAMINE COST-BENEFIT OF YOUR CURRENT SYSTEM  Step back periodically and ensure that whatever you are doing still works  Is your payroll processing time still within the limits you want?  Are you getting the amount of services you are paying for?  Are you satisfied with your current setup?  Are there other options you would like to explore? PENSOFT

III.ACQUAINT YOURSELF WITH THE ALTERNATIVES  Look at all of your options  a reliable DIY automated payroll accounting software with program support to answer all your questions  hiring a part-time bookkeeper as part of your staff to help manage business payroll  contracting with a CPA  upgrading from a spreadsheet to a simple “lite” version of payroll bookkeeping program if your company is small PENSOFT

By setting up and better managing processes, examining the cost-benefit of where your business payroll is today and acquainting yourself with other payroll processing options, you’re engaging in smart business operations and strategic planning. Entrepreneurs who maintain this kind of focus on operational processes are likely to run a more efficient payroll and an overall more successful business PENSOFT