As per a recent report by NSBA Small Business Taxation Survey, nearly 50% small businesses spend around $5000 every year on federal tax administration and around 27% spend more than $10000. Moreover, more than 15 days are completely spent on managing taxes.
The question in concern is why these processes consume so much time??
The common reasons are the different tasks involved including data entry, inappropriate information, mismanaged programs, and manual errors. But, business owners are increasingly realizing that there is an urgent need to take steps to improve the process and make it error free.

Automating the process can be an effective move in this regard. Process automation can reduce your burden to minimum and can help you pay your employees on time with zero errors.
Here’s how an all-automated payroll system can add more productive hours to your work day:
Easy to Comply with Tax Filing Requirements:
To stay compliant with all the tax and payroll laws is one of the most crucial task. But, when you have an automated payroll system, it’ll calculate and file all payroll taxes automatically without having you to take any pains.While selecting your system, make sure it is capable of factoring tax for multiple earnings, such as incentives or bonuses all into paycheck. Moreover, it must show complete breakdown of all deductions to help employees get more clarity on their take home salary.
Get Automated Form Generation and Filling Process:
It has always been a pain for HR and payroll professionals to download and submit necessary forms to all employees and collect from them before sending it to respective taxation bodies. However, if you deploy automatic system, it’ll automatically generate and send the 1099 or W9 etc. documents to the workers on the basis of their employment type and salary. Workers can easily fill the forms online and submit them accordingly.Easier Time Tracking:
The most important aspect of processing payrolls is time tracking. Thus, if you don’t have an integrated system in place for employee time tracking, then probably you are spending in a lot of hours in collecting and consolidating information manually. Having all information at one place through an integrated system will not only help you save considerable time but will help you drive down costs of maintaining multiple resources for gathering information. Moreover, you can gain more accuracy in pay calculation and better pay scheduling.
Happier Workforce:
Paying employees on time is biggest satisfier for your workforce. Thus, managing your payrolls must be your top priority while running an organization. With an intelligent workforce management system, you can gain better insights about employee contribution and how you can optimize your resources efficiently. Additionally, your employees will be more happy and satisfied if their inputs are getting noticed by the decision makers.
Therefore, with automated system in hand, you can ease down the tedious payroll processing, while taking time out to focus on other strategic areas. Moreover, you can always stay atop in running payrolls on time and never delaying the salary disbursement process or filing necessary taxes.