As a business owner, you likely didn't start your venture with the excitement of managing payroll. Managing payroll is a daunting task due to its complexity and the meticulous attention to detail it requires. Staying compliant with the changing payroll tax regulations and labor laws adds another layer of difficulty. Mistakes in payroll can lead to significant financial penalties and damage employee trust, making accurate payroll management crucial but challenging.
The time-consuming nature of payroll management can also detract from focusing on core business growth strategies. Fortunately, online payroll software offers a solution to streamline this process, allowing you to redirect your efforts toward business expansion. However, some business owners remain skeptical about transitioning to digital payroll solutions. Let's address three common myths about online payroll software and reveal the truth behind them.
Myth 1: Switching To Online Payroll Software Is Complicated
Fact: While manual payroll management is indeed complex and time-consuming, transitioning to an online system is designed to simplify the process. The right software can streamline payroll tasks for both employers and employees, reducing the burden of paperwork and manual calculations.
For instance, GMS’ online payroll is tailored to meet your specific needs and facilitate a smooth transition. We provide a dedicated payroll specialist to guide you through the setup process, answer questions, and ensure both you and your employees are comfortable with the new system. Our team collects necessary employee information to build your custom payroll system and offers personalized walkthroughs. Should any issues arise, dedicated support is readily available.
Myth 2: It's An Unnecessary Expense
Fact: While there is a cost associated with online payroll software, it's important to consider the time and resources it saves. According to The Business Journals, a survey found small business owners spend five hours or more each pay period, or 21 days each year, managing payroll. Online payroll software significantly reduces this time investment, allowing you to focus on core business functions.
GMS' online payroll system offers features that streamline the payroll process, including:
- Easy tracking of deductions
- Simplified workers' compensation calculations and payments
- Generate on-demand payroll reports
- Direct deposit setup
- Scan signed documents for compliance needs
Moreover, access to payroll experts can help prevent costly errors, potentially saving your business from IRS penalties. The flexibility to manage payroll remotely is another significant advantage, enabling you to handle payroll tasks from anywhere with an internet connection.
Myth 3: I'll Lose Control Over My Payroll
Fact: Investing in payroll software through a Professional Employer Organization (PEO) does not mean relinquishing control over your payroll. Instead, it provides you with enhanced tools for easier payroll management and access to expert support when needed.
With GMS' online payroll software, you maintain full control. The software doesn't replace your accountant; it simply provides efficient tools to streamline payroll management. You can even customize what employees see when they log into the payroll site, ensuring you always stay in charge while benefiting from simplified processes.
Take Your Time Back With Online Payroll Services
In today's fast-paced business environment, leveraging technology to streamline operations is crucial. GMS understands this need and offers comprehensive payroll solutions designed to save time, reduce errors, and provide expert support. Our online payroll software, combined with our team of payroll experts, ensures that you can manage your payroll efficiently while maintaining full control.
By choosing GMS, you're not just getting software; you're gaining a partner committed to your business's success. Our payroll services, backed by cutting-edge software and knowledgeable professionals, can help you navigate the complexities of payroll management with ease. Whether you're looking to improve efficiency, ensure compliance, or simply free up more time to focus on growing your business, GMS has the tools and expertise to support your goals.
Don't let payroll management hold your business back. Contact GMS today to learn how our online payroll solutions can benefit your business and propel it toward greater success.