We know how valuable your business is to you. That is why you are searching for the best available payroll software for your small business.
It is essential to calculate the due salaries of your employees and pay them on time. Failure to do so can lead to various legal issues. The payroll process is complex and time-consuming and is prone to multiple human errors.
Therefore, you have taken a wise decision to choose a payroll software instead of doing it manually. This article will give you a brief overview of the best payroll software that we have entrusted over the years to get the job done on time.
What are the features of good payroll software?
Most payroll vendors provide the same features. However, a good payroll system would be user-friendly and allows to operate under a wide scope. We believe that a good payroll software must have the following features.
1. Integrated with accounting
A single software integrating the human resources and accounting departments could save time and eliminate errors. This will save money for the business.
2. High level of security
The software must protect the sensitive data of the organization and the employees. The software must have encryption protocols and passwords to protect such data.
3. Track employee particulars
Good payroll software keeps track of the employees’ leaves, working days, superannuation contributions, other deductions from the salaries and employee earnings, etc.
4. Compliance with the Australian Taxation Office (ATO)
The software must be a single-touch payroll (STP) that complies with the ATO standards. STP software will share the employee wage, super, and tax information with ATO when the company pays the employee.
5. Generate reports and payslips
The software must generate payslips and payroll-related reports that give the HR and accounting departments critical information.
6. Scalability
Your payroll software must be able to handle the growth of your business and adapt to the increase in the number of employees.
7. Low maintenance
The payroll software should not have constant high-priced updates and patches, increasing the maintenance cost.
8. Allows direct deposits to the bank
Good software should facilitate the payment to the employees directly through bank accounts.
Why we believe Xero is the best payroll software for small businesses
Xero is one of the most popular and preferred payroll software in Australia. It has an integrated accounting system along with payroll software. This is ideal for maintaining the books of small scale businesses.
The software comes with total payroll functions that track the employees’ particulars and manage their payments.
The software is ideal for all kinds of businesses regardless of their scale.
Xero is a web-based software that allows you to access the records from any device with an active internet connection. However, the software is encrypted and protected, allowing authorized access only. This helps to protect sensitive information while improving the ease of access.
This software also allows generating payroll reports, payslips, and even depositing payments directly to the employees’ accounts.
Xero is STP compliant and it is recommended by the ATO as integrated payroll software.
How much would Xero cost
The developers have introduced various packages to suit the size of your business and the budget. Therefore, Xero is ideal for small businesses to manage their payroll, books, and accounting functions.
These are the average prices of different packages of Xero, which you can purchase as per your requirement.
Early : $13.50/month
Standard : $26/month
Premium : $33.50/month
Note that these values are average prices obtained from several sources, and they can change from time to time.
Is Xero difficult to use
Xero is user-friendly and easy to use. However, suppose you don’t have any previous experience handling payroll software. In that case, it can be pretty challenging to learn Xero. To overcome such situations, the developers have designed training courses for a reasonable price.
Learning to handle brand new software can be stressful, time-consuming, and could waste a lot of money. However, proper training would facilitate a smooth transition between the systems and save a lot of trouble.
So our recommendation is to check out their trial version and make sure that you can handle it smoothly. If not, take the training course provided by the developers.
Does Xero has a mobile application?
Yes. Xero has six mobile applications which work on both android and apple iOS. These apps provide on-the-go access to payroll details, invoices, bank account balances, etc.
Your employees, with permission, can access this app to request for leave and submit their particulars to the system. This helps the company to go for a paperless system and save a lot of money.
Who are Xero certified advisors
Xero provides certification for those who complete the training course and become proficient with the software’s core features. The certification ensures that the advisors have the skills and knowledge to serve other clients.
It could be costly for a small business to maintain a separate HR team to handle payroll. Therefore you can outsource the process to a third party. If you are outsourcing, then make sure the practitioner or the advisor has the credibility to handle your requirements.
This certificate becomes handy to identify such advisors and practitioners.
Why should you choose SPS?
We are a professional team of tax accountants, business consultants, and bookkeepers in Narre Warren. We have obtained the Xero certification as a certified advisor and practitioner since 2014.
Our team has helped hundreds of clients to manage their payroll function and handle the accounting function simultaneously. As a token of appreciation, Xero has awarded us with a silver championship.
We can help you to manage your payroll, just like we helped our previous customers. Don’t hesitate to contact us at (03)-99049261 for more details.