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Managing Your Payroll Internally With Construction Accounting Software

If you've recently decided that your company needs new construction or manufacturing software, one of the many things you'll need to consider before beginning your search is whether or not you need a system that will handle your payroll internally or if you're going to use an external service for payroll.

Taking matters into your own hands

Payroll management modules allows you to easily keep track of all of the myriad details associated with payroll.  Reports can be generated for the required year end government reporting.  You can print out all the time associated with a specific client, project or employee.  Most programs have a variety of template reports to get you started, and can be customized to include only the details that matter to you.  Want to see a concise printout of all the hours that were spent on the Hamilton Street project?  No problem.  How about a list of all the hours worked by Joe Smith for the past month, and a breakdown of the type of job he spent the most time on?  Easy, since there are multiple job codes to select from when time is entered.

Using your own software to do payroll also has the advantage of eliminating the need for double data entry.  Since the entire system will be integrated, as soon as an entry is made for Mr. Davis in Project X's job cost, the same data is automatically entered on his individual payroll statement as well as in every other relevant area (the client's labor statement, time spend on the task over all jobs, etc.).  This improved efficiency results in less time spent on data input and monitoring, leaving more time for value-added activities throughout the entire organization.

Getting Help from the Pros

On the other hand, sending payroll data to an accountant or payroll service and leaving the details up to them is relatively easy.  They can be responsible for preparing the forms, reports, etc that you need for formal reporting purposes as well as make sure you're setting aside the proper amounts for taxes.  These services generally require very little oversight from you, allowing you to focus on your area of expertise.

When using an outside payroll service, you are often required to use accounting software that is compatible with their system’s interface.  If you currently use a less-popular program, the change-over to a compatible program could be time-consuming.  However, chances are that the accounting program that came with your productivity software pack or that you purchased at your neighborhood computer center will be compatible.

To Each His Own

In the end, the choice you make will depend on your personal preferences.  If you prefer to have hands on access to all the information in real time, then handling payroll internally is probably the way to go.  On the other hand, if you want to simplify your day to day operations by not having to worry about payroll, then outsourcing is probably your best choice.  You will need to decide which provides the most value to your company, and each company will be unique in that manner.  There is no right or wrong answer that can be applied to all companies.

About the Author

Samuel Daggle writes articles for construction and manufacturing businesses that are looking for ways to use construction accounting software to improve their business. Check out his other articles for more information about construction software.

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