Some small companies process their payroll manually. You are a payroll consultant and know that the...

Some small companies process their payroll manually. You are a payroll consultant and know that the latest payroll accounting systems are adaptable to small businesses and are cost effective. How would you persuade a small business owner that his company of 25 employees would benefit by switching to computerized payroll processing system?

Expert Solution

I would persuade a small business owner by bringing his attention to various features and benefits of computerized payroll processing system.

Business owners must follow federal, state and local laws when hiring employees, offering compensation and withholding payroll taxes, deductions or garnishments. Small business owners can use professional accounting software to help them maintain payroll information. Most accounting software packages offer customizable payroll modules that help business owners keep accurate records regarding employee information.

Features of computerized payroll processing system:

Payroll systems outline when the company will pay employees (weekly, biweekly, monthly), the use of manual checks or direct deposit, benefit deductions from paychecks and the work requirements for salary or overtime employees. Business owners develop policies regarding these issues to ensure employees understand the company’s payroll process. Payroll systems allow business owners to create a function that is easy for them to understand and use.

Benefits:-

Computerized payroll system will save time and create a structure in business operations.

Business owners can repeat payroll tasks in a timely manner as needed.

Structure is also important in payroll due to the legal liabilities involved with employee payroll and Small businesses can face payroll audits from government agencies. It will help business owners in better compliance.

ekkarill92 answered 3 months ago

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