5 important features of payroll accounting software
Any payroll software will carry out basic calculations for pay, such as tax and National Insurance deductions. However, if you need to make other deductions you should check that any payroll software you use can handle these.
Pay intervals
Weekly and monthly pay intervals are standard, but if you have different requirements you should check that these are supported. You may also want to check whether the software can handle pension scheme administration.
Multiple usage
Smaller businesses may only require support for a single payroll accounting operator at a time, but you should check that multiple user operation is available just in case you need it in future.
Reporting
Some basic end-of-year reports will be included as standard, but check that everything you need is supported. If necessary, look for a give to employees to allow them to complete their tax returns. Most employers now have to file their PAYE end-of-year and in-year returns online
Data presentation
All payroll software will tell you the amounts that need to be paid to employees and HM Revenue & Customs (HMRC), but check that this information can be used in a way that meets your requirements. For example, you may want the software to print payslips for you, or just to give you figures for electronic payment.
Personnel records
Additional features may include the calculation and recording of holiday entitlements, self-service to allow employees to request or book annual leave online, and tracking sick leave.
In addition, some packages may be able to keep records such as job position history, previous employment history, education and academic qualifications, references, skills and competencies and training records.
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