Payroll and Accounting Systems - It’s great to integrate
Paying employees and payroll taxes accurately and on time are two of the most important tasks as a business owner (that, and throwing a great staff party!). The two things that are most important in making this possible are payroll services and good ol’ accounting. Now, in the past all this would have been done on cave walls written with bits of flint. But it’s 2021, and we have this awesome little thing called ‘software’.
Yes, (most of us) are no longer stuck in the Stone Age and nowadays both payroll and accounting software exist which automate these cumbersome and error-prone processes whilst cutting down the amount of work you have to do. You enter less data, track fewer receipts and spend less time getting all your ducks in a row and more time on focusing on the day-to-day running of your amazing and successful business.
Payroll software can automate your auto enrolment, RTI submissions and track things like sick leave, holiday pay and the all-important payslips. Whereas accounting software will track your sales and expenses simply and efficiently, allow you to make vendor payments and allow you to report payroll and tax information on your financial statements. Both are incredibly useful but at some point, like your feuding Aunt Mable and Aunt Fi, they’ll need to talk to each other!
That’s where integration comes in! It’s exactly what it says on the tin - integration between your accounting and payroll systems. Traditional usage of software requires you to enter the same information repeatedly. Some information may need to be entered on more than one system. For example, employee salary details need to be entered into your payroll software but hold up, your accounting software is over in the corner looking real salty because she needs it too!
So what do you do? Do you copy the same figures from the payroll software onto your general ledger? I mean, I’m bored even thinking about it; plus there’s a huge margin for error. You may also need to make journal entries to fix mistakes and I’m not talking about the “Dear Diary, today was a drag” kind.
No, you get a girl who can do both - by switching to integrated systems you only need to provide the information once which allows your payroll and accounting software to talk to each other to automate tedious, time-consuming tasks. By using software packages that can communicate with each other, employees will be able to simplify operations, save time, increase efficiency, avoid duplication and reduce errors.
Where can I find such amazing software that will allow me to do such wondrous things I hear you ask? Well, look no further because BrightPay is at the forefront of innovation and customer satisfaction. Their award-winning software includes accounts API integration with some of the biggest accounting packages on the market: Xero, Quickbooks, Sage Business Cloud Accounting, FreeAgent, Kashflow, AccountsIQ, ClearBooks, FreshBooks, QuickFile, Zoho Books and Twinfield.
In BrightPay, each payroll journal file is customised to the individual accounting software provider with built-in nominal ledger mapping and compatible 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 export payroll journals via CSV file and then manually import the journal into the accounting software and BrightPay, of course, includes export formats with default nominal ledger code mapping for a number of accounting softwares.
Whatever the weather, BrightPay has got you covered. Check it out for yourself and join the nation in integration.
Book a demo today to discover more ways that BrightPay’s automation and integration can save you time.
Written by Aoibheann Byrne | BrightPay Payroll Software