Construction payroll software is a tool specially designed to manage all salary-related transactions of a company. If you employ people, naturally, those people need to be paid for their labor. And by that logic alone, businesses tend to purchase payroll software as one of their first technologies to streamline processes. Purchasing a construction payroll software comes with a potential risk, though. If you lack experience and knowledge, you might mistakenly purchase one that is not a fit for your business.
That’s why before purchasing construction payroll software, you must first pay special attention to the key features listed here in our research.
1. Timesheet entry for flexible integration with third-party software
Your construction payroll software must have a timesheet entry feature to report and track equipment and materials. At the same time, this feature must be able to collect job and employee information. In this way, you can free up space used as storage for files. Additionally, integrating it with third-party timesheet software can be a great benefit for busy organizations.
2. Construction payroll software with job cost and general ledger integration
This is an important feature for contractors who manage job costs by merging payroll data with general ledger. Before purchasing software, keep in mind that it must have a feature that makes corresponding entries to the general ledger whenever the job cost is updated.
3. Automated tax filing services
To save time, your software must be able to automate tax deductions to the employees. We all know that manual calculation takes time and has the potential for errors. With this feature, your software can make the job easier for you. Plus, it can save from trouble with federal, local, and other payroll taxes — just ask the BIR!
4. Employee self-service
The best thing about this feature is that your employees don’t have to keep requesting access to the payroll information. Employee self-service puts all of your employees’ payroll data at the tip of their fingers. As a result, they will have easier access to their W-2 forms and pay stubs.
5. Security Controls
Good construction payroll software is not complete without its security features. Clearly, your software must have a passcode and a secured database to protect confidential salary information. Another basic security feature is tracking user activity.
6. Construction payroll software with direct deposit
Direct deposit is a win-win for your business and employees. With this feature, you can avoid printing and distribution of paychecks, so it will definitely save you both money and time. At the same time, employees don’t have to worry about check fraud and losing their paychecks. Plus, it saves paper too!
7. Adjustment administrator
A payroll system goes beyond standard wage management. Your software needs to consider the compensation, bonuses, and adjustments for changes in the minimum wage. In addition, it must provide you with a better payroll management strategy by overseeing non-traditional payment practices.
8. Don’t forget the reporting feature in your construction payroll software!
Every business software includes some kind of reporting feature, and this goes the same for construction payroll software. The reason for that is because reporting is an important tool that gives you insights into your payroll processes. Payroll reports provide you with a review of your budget, taxes, and compensation. In return, these reports can provide you with patterns which the HR and accounting departments can use for their operations.
When choosing the best construction software payroll for your business, it must have more than just the above features. Additionally, make sure that it has a user-friendly interface to make payroll tasks easier for you.
With that being said, SprintHR offers all these features among other unique ones as well. For example, SprintHR has an auto-sync biometric feature where the attendance automatically syncs to the SprintHR in real-time. It also accepts multiple schedules, so that all shifts — be it day or night — are covered.
Make sure you consider these features before purchasing payroll software for your construction business.