Accountants – connect payroll to your clients’ accounting software
Efficient accounting is increasingly about managing systems. Once, that meant managing physical files, client bookkeeping processes and annual compliance cycles. Today, software and automation play a greater role than ever, with accountants as digital custodians of online workflows and automation.
As digital technology becomes the norm for every level of business, from staffing to inventory, clients expect the same speed and flexibility from their accounting and payroll as every other part of their company. For accountants, the general ledger still sits at the heart of the practice as the core system of record, with a range of other tools to manage and deliver other services. However, without the right connections, these tools can actually increase the amount of work involved.
This is especially true for payroll, where large amounts of data need to be reviewed and approved to correctly pay employees the right amount, at the right time, every month. Here, we explore why it’s essential to connect your payroll software to your accounting software, the benefits it can bring to your practice, and how you can choose the right package for your needs.
Why accountants need connected solutions
Payroll is an ever evolving operation, involving managing multiple workflows and timelines.
On a month by month basis, payroll providers need to track incoming and outgoing staff members, hours logged, statutory leave, pension information, tax codes and payslip distribution. This then leads up to quarterly reviews and reporting, as well as year end processes to declare the details in a compliant format to tax authorities.
Wage journals, salary details, disbursements and more, all need to be recorded in the client’s accounting software and updated regularly to give them an accurate view of their costs, workforce and cash position. Discrepancies in this information can lead to confusion, extra work and unnecessary clarifications.
By connecting accounting and payroll software, providers can create a seamless, real-time information flow. In this system, data flows directly from one system to the other, creating a shared source of truth that links the payroll process with the rest of the business’s financial processes.
Benefits of connecting your payroll and accounting software
Using multiple software packages can require manually rekeying data from one system to another, or exporting CSV files. This is inefficient, repetitive, and tedious, wasting time for payroll providers that could be used to provide additional services, add more clients, or work more closely with customers.
By using an integrated platform that can communicate with your accounting software, such as BrightPay Payroll Software, accountants can save time on data entry, increase efficiency, avoid duplication and reduce errors in their data.
Payroll is a highly collaborative process, where minor details can make a big difference for your clients.
By connecting your payroll and accounting software, you and your clients can see the same information, at the same time, across all your systems. In the event of any discrepancy or query, you can work together with shared visibility to action changes without the risk of duplications or waiting for systems to update.
How to connect your payroll and accounting software
BrightPay features direct, customised API integration with 12 different accounting packages, including:
In BrightPay, each payroll journal file is tailored to the individual accounting software provider, with built-in nominal ledger mapping and compatible files, saving accountants time editing CSV files.
Users can decide if they wish to include individual journal records for each employee, or if they want to merge the employee records into total records for each unique payment date. There is also the option to specify circumstances where amounts are to be mapped to alternate nominal account codes (e.g. depending on period type, directorship, departments, specific rates/additions/deductions, etc.).
For firms or clients using other software, there is also the option to export payroll journals via CSV file and then manually import the journal into the accounting software.
Creating connected value
Payroll is a key part of the financial workflow for businesses, tying together HR, outgoing costs, and resource management. To create value in a holistic way, accountants need to operate with full visibility over this data and how it connects to the business at large.
BrightPay and BrightPay Connect, our cloud extension, give you full control and flexibility in how you manage your payroll data, connecting to major accounting platforms, to save you time and effort.
To find out how BrightPay can integrate with your existing technology stack and see how it can improve your workflow, check out a free online demo of our software. We also offer 60-day free trials if you would like to try it for yourself and see how connected data can help your practice.
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