Top 7 Tips for Keeping Your Payroll Information Organized - daydaily

Written on June 30, 2013 ? 3:40 am | by guest writer |

A small business?s payroll department is an important part of its business operations. Whether it?s run by one person or a large staff, an organized flow of finances keeps the business going strong. There?s no room for disorganization when it comes to payroll because even the smallest of mistakes can end up costing the company dearly.

There are several considerations that can help a small business keep their payroll information organized. Maintaining organization can help streamline the payroll process, resulting in happy employees and payroll staff.

Organized payroll means employees get paid without delay.

Payroll Organization Tips for Small Businesses

• Organize Personnel Files.Organization of important employee files might sound like something that would automatically happen, but small businesses don?t always have access to extra staff members or additional work time to keep personnel files organized and up to date. One thing that can help is to organize as files are added to, rather than wait for work to pile up.
• Keep Employee Records Secure.Part of the organization process includes keeping employee payroll records secure. All files, whether stored as hard copies in the office or stored online, should not be easily accessed by anyone outside of the payroll department besides the business owner.
• Simplify Policies.Policies, while well-intentioned, can complicate and confuse things. A business owner should ensure that policies regarding paid vacation, days off, expenses, and commission are concise and simple to promote streamlining during the processing of payroll.
• Go Paperless.Good records are vital to an organized payroll system, but a paper trail isn?t. With all the advancements in technology, there?s really no reason for a business to keep hard copies of everything. Going paperless with employee payroll can improve organization by reducing physical paperwork.
• Create a Payroll Calendar.A calendar that displays important tax dates, quarterly and year-end activities, as well as the creation and distribution of reports will help the payroll department keep other payroll activities on track with the year-round calendar.
• Enlist the Help of a Payroll Service.Small business owners who find themselves overwhelmed with office operations can keep things organized and reduce stress by enlisting the assistance of a payroll service. In addition to having a software program that makes payroll easier, the business will also have access to tech support and customer service.
• Include Mobile Access.A good payroll service will make it possible for the business owner and payroll department to take care of business from a remote location via remote access.

An organized payroll calendar ensures important tasks are completed on time.

Use a Payroll System that Functions with Other Bookkeeping

As business owners set out to streamline their payroll process, it?s wise to incorporate practices and tools that will improve overall bookkeeping. Payroll is one cog in the wheel, and it makes good business sense to ensure that any changes made to a business?s payroll practices will work with the rest of the business finances.

These tips can help small businesses that wish to organize this aspect of their business operations know where to start and what to consider as they begin.

Mary Ylisela is a writer and small business coach who encourages clients to work smarter, not harder, which includes streamlining operations such as payroll.

Source: http://daydaily.com/2013/06/30/top-7-tips-for-keeping-your-payroll-information-organized/

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