PayCycle's Online Payroll

Author: Anu Sanghvi , Dir. Accounting Professionals Program, PayCycle  Created: Sun Oct 29 20:32:01 2006
With the advent of online technology and electronic initiatives, accounting professionals are realizing the benefits of switching to online "software-as-a-service" technology to simplify client work.

However, until accounting software is completely replaced with online applications, professionals must maintain multiple software packages on their desktop to support a range of clients.

The pain deepens with payroll. Many professionals are forced to learn and support several different payroll modules tied to different accounting software packages.

Break Through Software Barriers
The good news is that online services, such as PayCycle, are making it much easier to manage client payroll. PayCycle automates time-consuming payroll tasks. It provides instant and accurately calculated paydays, automated forms and electronic payment and filing features for state, federal, and payroll taxes.

The stand-alone solution also seamlessly integrates with QuickBooks and other leading small business accounting packages so you never have to enter data twice. PayCycle currently exports payroll data to QuickBooks®, QuickBooks Online Edition, QuickBooks for Mac, ATX's entire suite of accounting products, CCH ProSystemfx® Write-up, and Microsoft® Money - with only a few clicks.

There are several key advantages to this approach.

Platform Standardization
Instead of spending time learning and maintaining different payroll programs, you can choose one solution that enables you to streamline payroll for all of your small business clients.

Access to Electronic Features
Most payroll software modules don't offer cutting edge electronic features such as free direct deposit and electronic tax payments and filings. By choosing PayCycle, you get these electronic features at no additional charge.

No Data Re-entry
When it comes time to reconcile data with a client's books, you don't waste time re-keying the payroll details. PayCycle allows you to simply set up your client's accounts to export paychecks and tax payments, and click a button to transfer the data to the accounting package. The data is exported one paycheck at a time, making reconciliation easy. You can even see paycheck items by reviewing the split-level detail.

Minimize Errors
Since the data is transferred electronically, there is minimal chance for human error. PayCycle even alerts you if you try to export a check that has already been exported.

PayCycle also offers several other advantages that enhance opportunities for client collaboration and increase your firm's profitability and productivity.

Instant Access
The PayCycle overview screen allows you to access client data from any location. You can manage each payroll in minutes, or have your clients share the duties. You can choose to have clients process paydays, create paychecks, and make tax payments. When clients log in, they see only your firm's brand on the Web site, while PayCycle remains behind the scenes.

Easy Paydays with Free Direct Deposit
PayCycle sends you a payday reminder each pay period. You'll prepare checks or professional pay stubs in seconds using the pre-filled payday screens. Simply enter employee hours and PayCycle will automatically calculate tax and voluntary deductions for each paycheck. Free direct deposit is your best choice for payment - click a button and you're done. You can also print pay stubs and paychecks at your office or even on the client's own printer. Employees can log in to a secure Web site and access their pay stubs.

Electronic Tax Payments and Filings
To comply with state and federal regulations, PayCycle includes EFTPS, state tax payment support (electronic where available), electronic 940 and 941 filings, electronic W-2s, and state tax forms.

Helpful Reminders and To-Do Lists
Email reminders and custom To-Do Lists help you stay organized. PayCycle reminds you of tax deadlines, making sure you know what to do and when to do it. You can also have PayCycle automatically send clients email reminders for specific tasks.

Comprehensive Reports
You'll get up-to-date payroll information in a variety of detailed online reports. These include Payroll Summary, Payroll Details, Deductions, Last Paycheck, Tax Liability, Taxes and Wages, Total Pay, Tax Payments, Worker's Compensation, Vacation and Sick Pay, Billing, and Total Cost. Each report has drill down capability. PayCycle also allows for the one-click export of reports to Microsoft Excel®.

Free Customer Support from Payroll Experts
PayCycle offers unlimited support from payroll experts at no additional charge. You and the PayCycle support team see the same screen, allowing issues to be quickly understood and resolved. You can contact support by toll-free phone or email.

Great Value
If you're interested in reducing your payroll pain, PayCycle is worth a look. There's no upfront cost or minimum contract. As an accounting professional, you'll receive discounts based on client volume. Prices start at just $14.99 per client per month. There are no hidden fees, or extra year end charges.

For more information or for a free trial of PayCycle, click here.

About the Author
Anu Sanghvi is the director of the Accounting Professionals Program at PayCycle, the leader in on-demand payroll for accountants that serve small businesses.