5 Facts About Nonprofit Payroll Services to Impress Your Boss
Although nonprofit payroll is similar to other for-profit organizations, there are some special rules surrounding withholding payroll taxes and how you pay your employees. Because you have different elements of HR, from unpaid volunteers to contractors, and employees to board members, you have to understand how payroll works for each person.
You can spend all of your time managing payroll, but in the end, you will probably never know all the rules for each type of employee, not to mention how federal, state, and local tax laws work.
A nonprofit payroll service is your best bet to ensure your nonprofit is taking advantage of a simplified payroll process while adhering to tax rules that apply to your business. If your boss is not convinced, here are five impressive facts that might change their minds.
Payroll Services Resolve Mistakes
Mistakes lead to tax penalties that can equal 50% or more of the amount owed. Payroll services take the burden of potential mistakes off your shoulders by actively watching for them and then resolving them. This includes:
- Verifying every payroll with automated audit software
- Proactively informing you of errors with a quick call to discuss solutions for corrections before your payroll is processed
- Auditing all payments so that there are no unexpected tax issues at year-end
You will have the accuracy of nonprofit payroll software in hand with personal payroll support working to check your work constantly. When issues arise, you will receive a call to discuss solutions. This not only helps you avoid mistakes but also works as a learning opportunity. You will become more familiar with the rules and how to avoid future errors.
Complex situations can arise where you aren’t sure how to proceed. When this happens, instead of taking chances, you have the payroll experts available to address issues and ensure you are adhering to the laws that apply specifically to your nonprofit needs.
Nonprofit payroll software will assist with all steps of the process, checking for accuracy while ensuring consistency across your Benefit, Timekeeping, Applicant-tracking, Learning Management, ERP, and accounting systems. This saves you the time of retyping information so that you can be more focused on the human element of human resources.
Payroll Services Make Things Easier
Being the juggler of too many roles is a common issue for nonprofit HR and accounting departments. If this sounds like you, nonprofit payroll software allows you to focus on other pressing matters, including more focus on employee development and finding the right people to assist with growing your donation base.
You can show your boss that those hours each week manually reviewing and verifying payroll data can be offset and more efficiently managed with a payroll service. You will avoid issues such as late payments and underpayments because errors will be reduced or even eliminated. Using payroll services and software will reduce the hours, mistakes, and complexities, improving efficiencies for your HR or accounting department.
Paperless Processing is Valuable
Whether you are thinking of ways to be greener or just want to be more efficient through organized processes, payroll services can help you. Online nonprofit payroll services streamline your efforts across multiple departments and roles, from managers to IT, and accounting to HR and payroll.
Paperless payroll is the wave of the future, replacing paper pushing and shifting with a mobile payroll app and online document storage. Nonprofit payroll software simplifies the process, offering:
- Quarterly payroll tax returns
- Access to the real-time payroll data
- Access for employees to view and manage pay statements
- Secure mobile access to your payroll
- Customizable security levels to protect sensitive data
- Custom reporting capabilities
- Integrated benefits administration
Payroll Services Allow Real-Time Monitoring
Quick access to information at any time makes things easier. It will alert you when a problem exists and allow you to make changes right away. This will create an error-free payroll process, so you are always on time.
With an integrated system, you will always know the current state of labor costs, allowing profitable decisions that keep everything up to date. Payroll reporting provides:
- General Ledger reports with earnings, taxes, and deductions linked to a GL code
- Payroll Register report to ensure proper documentation and record keeping
- Payroll Recap and Funding report to track where funds were spent for each pay period
- Automated event notification
- Confirmation that your accounting software is IRS approved
Payroll Services Lead to Happier Employees
An automated payroll service also makes employees happier. They will get what they want without the need for support, including real-time payroll records and automatic backup for their sensitive HR information.
Your boss will see the benefits of nonprofit payroll services and be impressed by your up-to-date knowledge.
About The Author
Kayla is the Marketing Manager at Paypro Corporation overseeing all inbound and outbound marketing and sales efforts. She has 7+ years of experience working within the B2B and SaaS based solutions space and thrives on creating messaging and campaigns that introduce products and services to those who need them most.