About one-third of employers make payroll errors, which can add up. The IRS collects penalties for even simple errors, like not filing on time.
As a small business owner, you’re looking for ways to make payroll easier. You also want to be sure your record-keeping is up to the task.
Today’s technology can help, but what option is right? Should you use paystub software or payroll programs? What’s the difference between the two anyway?
This quick guide will go over the differences and help you make the right choice for your business.
All about Paystub Software
Many employees get paid by direct deposit these days, which means there are no check stubs. Federal law doesn’t require employers to distribute paystubs. So why would you need paystub generator software anyway?
As the experts at thepaystubs.com point out, some states do require employers to provide paystubs. Even more than that, it’s a good idea to generate paystubs for your own record-keeping.
Many small business owners calculate payroll by hand or use software like Excel. These methods don’t allow you to generate paystubs.
Paystub maker software is an easy solution. Select your template, plug in your information, and get the paystub emailed to you.
What is Payroll Software?
In contrast to check stubs software, payroll programs are more robust solutions. The focus on your entire payroll process. They’ll help you manage payroll from start to finish, including tracking time and more.
They’re not the right solution for every business. While they do more, they’re also more complex to use. If you decide to adopt payroll software, you may need to rethink your entire payroll process.
You may also need special training to use the program, and it often takes more to get set up. Finally, there’s the cost associated with payroll software as well. The price tag for a robust solution can be quite high.
The Right Fit for Your Business
If you’re concerned about record-keeping and want to offer your employees a paystub, then paystub software is the right solution.
You can be up and running with check stub generators for your next pay period, and they’re much more affordable. Finally, you know you won’t be paying for extra bells and whistles you don’t need.
If you need more help with payroll, it might be time to consider a payroll software solution. You may even want to think about working with a payroll provider.
For most small business owners, though, a paystub generator will be enough. The hardest part will be choosing the best pay stub maker for your needs.
Building the Businesses of Tomorrow
The right payroll or paystub software can make all the difference to a small business. With the right technology, you can avoid common mistakes and penalties.
Today’s technology is revolutionizing business. If you want to stay on top of the latest must-haves to power your business, check in with us for more great advice.