02 Aug The benefits of bringing your payroll to the cloud
Payroll has always been a problematic concept for businesses, largely due to the complex nature of the work and how easy it is to make a mistake.
Thanks to innovations in cloud-based accounting software, payroll can be accomplished in a much more convenient and less error-prone way for businesses.
We are going to take a look at how bringing cloud-based payroll services to your company can offer a host of benefits.
The problems of traditional payroll services
The reality is that payroll is a necessity and very rarely a passion project for businesses. As a result, many business owners face doing the payroll themselves, which is not what they signed up for.
Even if business owners are tech-savvy, they will still need to deal with obscure accounting software that leaves them prone to making accounting errors. This, in turn, can leave businesses precariously close to skirting their legal obligations.
Larger businesses struggle with payroll too, although for different reasons. If they grow too big, they will need to dedicate resources to an in-house or outsourced payroll team, which takes away from the businesses core functions. If they decide to outsource, larger companies leave themselves at risk of leaking sensitive information to a third party.
It is safe to say that payroll is more of a nuisance to most businesses than a feature, which makes cloud accounting services so appealing.
The benefits of the cloud for payroll
Cloud-based services have proved to be incredibly useful for companies, from online IT support to remote desktops. Using the cloud for payroll allows companies to store their accounting data securely and automate processes to provide error-free calculations for salary and pay rates.
In short, using a cloud-based accounting solution for payroll takes the sting out of the work. There is a significantly smaller chance of errors in wages, no need to dedicate a team or outsource and the business can focus on whatever is driving their profit.
If you are considering adopting cloud accounting to help with your payroll, or if you would like to know more about cloud accounting services, contact our specialists at SQK Accountancy today.