Taking care of your people
Employees are at the heart of any business and when faced with unexpected situations, keeping up with payroll can become extra challenging. From filing state and federal payroll taxes, to ensuring there is enough cash flow available on pay-day — managing payroll is a major pain point for small businesses and accountants.
To support, this article will look at how a healthy payroll system can keep your business and people happy, while providing a selection of tools from Xero’s app marketplace to arm you with the right information to keep your payroll under control.
1. Payroll is about people
Payroll is more than just a list of the people you employ, information on what they are paid or compliance with legal requirements. Each name on your payroll is a person. And if you treat them as an accounting ledger entry and nothing more, you might miss an opportunity to understand their needs or maximise opportunities for your business.
Understanding your employees needs is essential. Creating automated direct payments promotes peace of mind in your staff, and won’t leave them hanging out for their salary. However it’s important to also review any automated processes from time to time, as your employees’ tax codes can change. Sometimes that's due to new legislation affecting their income tax band or due to changes in personal circumstances, like marriage or parenthood. Your system should update tax codes quickly and easily but it’s important that this information is accurate, as most employees have income tax deducted from their salary before they receive it. As the employer, it’s up to you to get this right, which can often come down to ensuring you know your people.
WagePoint recognises the human elements of payroll, and embraces them. Backed by the world’s friendliest support team, this payroll software was built especially for small businesses. The program can handle direct deposit and tax reporting requirements across all of North America. It is the perfect solution for companies looking to keep their people happy and staying compliant at the same time. The integration with Xero means all the information you need is imported automatically into Xero - saving you time for what’s important.
Payroll apps like WagePoint can solve many of these challenges, while also simplifying tax paperwork and reducing IT costs. And because they share information seamlessly with Xero, they are fast and easy to update, keeping you ahead of the curve.
2. Payroll made easy
Small businesses using Gusto, Xero’s preferred US payroll app, spend 75 percent less time managing employee payroll than before they started using the service. That’s because Gusto’s innovative, born-in-the-cloud service handles all aspects of payroll on behalf of the small business owner.
Gusto enables businesses to run payroll completely online with modern software and design. All federal, state and local payroll taxes are automatically paid and filed. The app automatically syncs payroll and financial data with Xero, as well as popular expense tracking and time tracking software. Gusto also integrates with workers’ compensation, benefits like health insurance or 401(k) retirement plans, and human resources, providing compliance, ease and flexibility. And it’s available right within Xero.
PaymentEvolution is one of Canada’s most loved payroll providers. Used by over 13,000 small businesses its simple integration allows you to run payroll and pay your vendors directly with automatic reconciliation with Xero.
Xero, PaymentEvolution and Gusto have a shared vision for building innovative new solutions that help small businesses and accountants thrive in the new economy. These born-in-the-cloud companies are working to build software that makes complicated business tasks more simple and human.
3. Different businesses have different payroll needs
Every business is different, that means so are the requirements of payroll and HR. There are many options in the Xero app marketplace, which can support your business, making it easier for you to focus on the unique needs of your work.
Xero’s integration with OnPay is for all customers but especially suitable to those in the agricultural industry and the accountants who work with them. Now, farms and ranches in the US that use Xero will have access to payroll, HR, and benefits through OnPay, enabling farmers and ranchers to operate more efficiently.
OnPay simplifies bookkeeping for Xero customers in the agriculture industry and helps meet the unique needs of their farm or ranch, such as automated filing of Form 943 and payroll processing for H-2A visa workers. And, OnPay provides custom solutions and personal service to help address challenges faced by agriculture businesses.
This partnership provides payroll, accounting, and managerial software which help farms and ranches improve profitability and decision-making by getting a real-time view of the financial health of their agriculture business.
What about for business owners that would rather spend time focusing on their business rather than worrying about the nitty-gritty of payroll? We’ve got an app for that too. RUN powered by ADP knows that you’re an expert in your business, and they’re experts in payroll and HR - so you don’t have to be. ADP offers a set of packages designed to meet the needs of all small businesses, from startups to established firms, and from clients with basic payroll needs to those who want hands-on HR assistance. Every business is different, and so is every owner, if you want seamless, stress-free integration - RUN is the program for you.
About Xero app marketplace
The Xero app marketplace features 800+ third party apps that help small businesses and their advisors seamlessly run their business. With apps that support everything from inventory and logistics to cash flow and project management, businesses have an array of options to build a customised experience.