Payroll management can be a time-consuming process for most businesses. But an online payroll calculator can be an time-saving tool that can also help boost productivity.
A good payroll management professional knows the value of good tools and automation. They know that these can make their job that much easier if they are used effectively. One of those tools is a quality online payroll calculator.
The good news is that there are a variety of time sheet calculators that are available to provide managers and others with greater accuracy and time savings in the payroll process.
Sometimes they are called a time sheet calculators, time card calculators, or payroll calculators. These online calculators are often used as standard tools in many smalled HR and payroll departments.
Another added option is having access to a different types of payroll calculators that can futher increase the efficiency of your payroll process.
A well-designed and intuitive online payroll calculator can be used as a significant addition to your payroll process tools.
For example, there are free online payroll calculators on our Accuchex website, that can enable you to compute payroll for hourly or salaried employees. You can use these handy tools to do quick calculations and to verify totals, etc.
To use these calculators you simply enter your staff member’s pay info, and the tool will process the numbers. In addition, they will show you the amount to pay and how to deduct for taxes. You can be confident that your computations are accurate with the most up-to-date tax tables, so you don’t have to think about it.
Also, the payroll calculators can be used to include overtime, bonuses, and other payments.
Three Payroll Calculators to Fit Your Process Needs
These three tools are online calculators that are incredibly powerful and can be valuable resources for your payroll process. They are also easy to access and easy to use. Just enter your employee’s pay information and the calculators will process the numbers to show you the amount to pay and how to deduct for taxes.
Here are three different calculators will cover all your payroll processing needs:
The hourly calculator can estimate the take-home pay of your hourly employees after tax obligations and other deductions. You simply choose the hourly pay rate alternative to enter the variety of hours functioned as well as the gross hourly price.
The salary calculator determines take-home pay for salaried employees after tax obligations and deductions. Just select the wage pay choice and enter it into the gross income amount, and the net pay is instantly determined.
With our gross-up calculator, you can compute gross pay based upon net earnings and allow for adjustments in 401(k) contribution quantity, changes in deductions for health and dental insurance and similar scenarios.
While these are all great tools that can help to streamline your overall payroll process, they will not quite be able to replace the benefits of payroll software or a managed payroll service. Which is a great reason to also consider taking the next step in your evolving process.
Strategic Advantages to Outsourcing Your Payroll
As good as these online payroll calculators are, however, there are still many advantages and benefits you miss by not taking your payroll process to the next level: outsourcing to a payroll management company like Accuchex.
- You no longer have to spend hours on your payroll process every pay period, manually entering data and figuring out deductions and contributions.
- You eliminate the risk making costly mistakes from incorrect input calculations, or from missing changes in employee status.
- You delegate the task of filing and paying all payroll taxes, accurately and on time, for multiple tax agencies operating on different filing schedules.
- You can ensure compliance for all payroll and filing issues and regulations, as well as keeping informed and up-to-date on every current change in payroll legislation and labor law.
- You have consistent, reliable support for answering your payroll questions, or resolving issues with payroll.
There are a number of strategic reasons for outsourcing your payroll to a professional payroll management services company. While you may want to retain some of your general accounting operations such as accounts payable and managing your receivables, payroll is almost always a great function to outsource.
It may seem that it would be more cost-effective to keep all of your payroll functions in-house, the truth is that many companies - both large and small - discover that the cost-savings can be substantial. In addition, there are other benefits that are not easily measured in dollar amounts, but that are just as viable and just as valuable.
With HR managers becoming increasingly overwhelmed with added responsibilities, growing regulatory obligations, and a continually changing payroll landscape, the requirements are staggering. Managing the complex interactions between departments and the growing demands of federal, state and local agencies can sap a payroll or HR department.
Outsourcing can allow you to safely and cost-effectively delegate one of the more burdensome processes to a reliable vendor and strategic move on a number of levels.
Taking the Next Step to Efficient Payroll Management
The key to effective payroll management is to think strategically, and act tactically.
In other words, you should anticipate your future needs and expected growth, while taking steps now to improve and streamline your current processes and systems. In many ways, your payroll process represents the core function that maintain your business.
Which is why paying your employees as cost-effectively as possible makes good fiscal sense.
With the wide variety of tasks and responsibilities HR professionals have for managing, having the best tools at their disposal becomes an ever-present concern. Programs evolve, technology changes, and what was purchased and installed three years ago, for example, may not be sufficient for today.
While using calculators and investing in the best available software are viable options, the next step you should consider is outsourcing. This can be simply outsourcing one process such as payroll. However, with a full-service provider such as Accuchex, you have additional options for outsourcing as well.
Let Accuchex help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.