Five Reasons Why You Need A Payroll System

It takes a lot of time to keep track of the total hours worked by employees, stay up-to-date with tax preparation and update employee profiles. It’s time to get a new Payroll system if the HR department can’t keep up with daily operations. Here are five reasons why you need a payroll software.

1. Save Time: Payroll can be very strenuous with the mass amount of operations needed to keep everything in order. Calculating hours, tax preparation and employee data maintenance can take multiple hours to complete when it's done manually. Investing in a good payroll system will allow information such as direct deposits pay, up to date tables, and even updating your general ledger to be automated.

2. Reduces Human Error: When businesses manually enter employee wages, there is always the possibility of human error. Use a payroll system to reduce human error is and save the company money.

3. Always Up-To-Date with Taxes: When tax season is approaching it can take hours to ensure that all information that has been entered manually is correct. Payroll systems will always have the tax tables up-to-date, so your business will always be compliant without the added stress.

4. It is secure. One of the most essential features that a payroll system needs is security. Payroll contains very sensitive data, which is kept confidential and can be stored away safely in the cloud. The only person who has access to this data is granted permission through role assignments.

5. Easy Integration: It is important to have your systems talk to each other. Your ERP system and payroll system go hand in hand. Payroll software can easily be integrated with well-known systems such as Microsoft Dynamics 365 Business Central.

Microsoft Dynamics Business Central is an all in one system that allows businesses to work digitally and became scalable. Insight Works has developed a Canadian Payroll add-on that integrates with Dynamics 365 Business Central. Join our Canadian Payroll with Microsoft Dynamics 365 Business Central Webinar to learn how their system makes the whole process of employee administration and finance much easier.

Date: Thursday, May 24, 2018

Time: 11:00AM EST – 11:30AM EST

As a business owner an ERP system will take your business to the next level. It will take all your current business flows and transforms them into a single process. Majority of ERP systems have already been pre-developed to fit the standard business prototype but can be modified to better fit your business needs. Once you have the ERP system in place, you will have access to all the right tools to remain highly competitive in the marketplace and become more efficient. Implementing an ERP system for your business can be highly profitable in the long run and can assist your company in becoming more scalable for future growth. Here are three reasons why you should implement an ERP system:

Reason One: Streamlined Processes

Once your ERP system has been implemented, all of your department’s processes streamlined. These faster and simpler working methods will increase employee efficient and in return, create a stronger business model. Also, room for human error decreases significantly when an ERP system is in place. As multiple departments, work as one, the business can now develop and grow into something bigger than it was before.

Reason Two: Customer Service

The last release of Microsoft Office was in 2010, now three years later Microsoft unveils their new “sleek appearance” and features with Office 2013. The new appearance coincides with the Windows 8 look; they’ve added better functional improvement and links to SharePoint and SkyDrive.

There is the option of purchasing the software separately or getting Office 365 for your business. Still questioning if it’s time to upgrade? Here are some features that I’ve done research on that might change your mind.

Do you find that your desktop applications are taking up too much space on your hard drive? Microsoft has introduced SkyDrive Integration with Office 2013. Office 2013 is designed to integrate with the cloud using SkyDrive and SharePoint. That’s a big benefit to SMB if you prefer to store your documents in the cloud. If you're still skeptic about the cloud, you still have the option of saving files on your local drive.

Do you find that you are always on the go and can’t bring your laptop with you all the time? When business is booming you might find yourself all over the place, with no time to sit at a desk. But using Office 2013/Office 365 you will be able to view your documents online using a PC, tablet or WebApps. This feature makes it easier to pick up where you left off working, even if you open the file on a different device than you last used.

Do you have trouble using Excel? Do you need to use Excel to create charts and monitor sales? Excel 2013 has a new feature called Recommended Chart which you select the data to chart and click Insert > Recommended Chart to see options such as line, bar, and pie charts that the program recommends for your data. Click each chart to preview what your data will look like in that form.