28 Apr Save Money with Payroll Software
As the old adage goes, “You have to spend money to make money,” (or more appropriately ‘to save money’) which is true. However how that money is spent is what actually determines if it will come back to you with more of its friends, or if it gets released back into the wild, to run free with all the other free range bills and coins.
“Hundreds and thousands of dollars saved”
The clients that use Payroll Connected have reported to us time and again how much money they have saved by using our reasonably priced, but fully automatic payroll solution. Not just a few bucks here and there mind you, we’re talking hundreds and thousands of dollars saved every year, just because they made the wise decision to fully automate their payroll. How did they manage to save so much money just by switching payroll software? The answer is that it’s all about time.
Time is the greatest cost of business. Every time you pay an employee, you’re actually paying for their time. The same is true with processing the payroll. Whether doing it yourself or paying someone else to do it for you, payroll has traditionally been a very time consuming task. If you stop and think about everything that needs to be done for payroll, even for a single employee, it includes figuring out:
- Regular Pay
- Overtime Pay
- Vacation Pay
- Statutory Holiday Pay
- Deductions for the Pay Period
- Deductions to pay to the government later on
- Creating a T4 at year’s end
- Creating an ROE if they leave the company
- Lots of other little things like tracking time worked and so on
If you add up all the time spent on those things and divide it across the year, it takes approximately up to two hours per pay period, just to make a paycheque for an employee’s time worked. Ironic? Yes. But here’s where Payroll Connected keeps more cash in your pocket.
Want to Save Money on Payroll Processing? Then Get Rid of It!
Payroll Connected is Canada’s first and only fully automatic payroll processing software, with each province’s unique labour standards programmed right into the software. That means that it’s able to do in seconds what payroll professionals traditionally take hours to do, including all those items listed above. Once set up, the only thing it needs to process a payroll are the schedules: who the employee is and what time they worked on which day. That’s it. Then enter in the pay period end date, and you’re payroll is done. That means payroll can be done in seconds. Clients have reported to us that after just a couple months of using the software, their payroll takes less than five minutes to complete! If you think that’s an exaggeration, here’s the proof of a full pay period payroll for a single employee done in 66 seconds (while explanation is being done at the same time, none the less):
Scheduling & Paying Employees
So that’s how businesses spend money to save money with Payroll Connected. It eliminates all the time consuming calculations and tasks involved in payroll. Even for a small business, $10.00 saved every pay period is hundreds of dollars saved over the year. And the more employees a business has, the more money is saved, which is why companies with over 100 employees save over $1,000.00 with every payroll they run, just by using Payroll Connected. So even though Payroll Connected isn’t free payroll software, it’s a tool that will actually help your business save money.