It’s common for businesses to use Excel for payroll, but spreadsheets are often riddled with errors. For people who know how to work with spreadsheets to their full potential, these programs can perform highly complex calculations. But many small businesses forget that it’s a complex application and don’t restrict it to those with expertise. As a result, many organisations use spreadsheets to help with payroll and find it more difficult than they expected. With regulatory compliance such PAYE rates factored in, your business will be susceptible to financial penalties if you don’t move from Excel to proper accounting and payroll software.
You may also hurt the company’s reputation among employees if you continue to use a spreadsheet. There are a few reasons this may happen. One being that there are constant changes to complex regulations and any problems can cause issues between the business and the employee. Another is the fact that spreadsheets do not guarantee reliability. Unlike payroll software, your data will not be automatically backed up if you lose it.
Quick Payroll Software
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