Features of payroll software for accountants 

Payroll software is one of the most important tools accountants can have in their tech stack. But what are the key features of payroll software for accountants – and how do you make the best choice when it comes to choosing the right provider? 

Here’s our overview – using our own Capium payroll software’s features as an example throughout. 

Key functions of payroll software 

Getting the right payroll software is essentially all about making payroll processing simple. A robust payroll solution will automate complex or routine payroll processes, from tax calculations to direct deposits, meaning you can spend less time on manual tasks and focus on delivering value to clients.  

We’ve designed our payroll management software to integrate seamlessly with other accounting systems, keeping accurate financial records, making updates seamless and keeping compliance simple. 

What are the essential features of payroll software? 

There are several core features that all payroll solutions for accountants should have: 

Automated tax calculations and filings 

Capium’s payroll software automates tax calculations and filings, saving time and reducing the risk of errors. This feature keeps you compliant with the latest tax regulations and deadlines, and allows you to focus on strategic tasks. 

Integration capabilities 

Our payroll software also integrates smoothly with other accounting tools and modules within the Capium ecosystem, synchronising data across platforms. This reduces manual input and errors, increasing efficiency. 

Customisable reporting tools 

No two reports look the same, which is why we’ve made reporting customisable. This means you can tailor payroll data to provide insight according to client needs, helping you and your clients make informed decisions together. 

Comprehensive time tracking features 

Features like time tracking can help keep things as accurate as possible – when set up correctly, they’ll automatically calculate wages based on hours worked, overtime, and other variables, depending on your clients’ business model. 

Robust security measures 

Data security is a priority when it comes to payroll software and, because it’s hosted on the cloud, it’s easy to build in robust security features like data encryption that comply with regulation and prevent unauthorised access. 

Enhanced user experience and accessibility 

Payroll software should be intuitive and as accessible as possible. To make that happen, ours includes: 

• Mobile application availability – making it easy to manage payroll on the go 

• Self service employee portal – to view and manage payroll information 

• Friendly interface – easy to navigate, even with large teams. 

How does payroll software support business growth? 

With all the above features combined, payroll software can play a key role in helping businesses of all shapes and sizes to scale and grow – and it also allows you to manage growing client bases without any disruption in service. 

As your practice and client portfolio evolves, our payroll software adapts with you, adding new features and regulations, and making sure you’re using the package most suitable for your needs. When it comes to analysing client data, our analytic tools can help provide insight into employee costs, productivity, and payroll trends, helping you advise clients on workforce planning and cost management. 

A huge part of making sure your tech stack grows with you is how third-party integrations affect your entire software ecosystem, which is why our software links payroll with accounting systems, allowing for seamless financial tracking and reporting, saving you time on manual reconciliations. 

How to go about choosing the best payroll software 

Choosing the best payroll software for your firm is an important decision – and it makes sense to focus on selecting a provider that offers comprehensive payroll software features, compliance assurance, extensive integration, and a solid support service. 

Making sure the software meets your firm’s unique demands – from what you need it to integrate with, to the level of data security you require – is a decision that will be personal to you. But the above features should give you an indication of the key things to look out for when it comes to choosing your payroll software provider.  

To trial Capium’s extensive payroll software, sign up for a free trial here.