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Construction’s weekly payrolls and complex projects make payroll complicated. Special labor requirements, certified payrolls and legal and regulatory aspects need to be taken into account for each state and region. Specific tax rates and rules may need to be applied. 

To stay ahead and to fuel the competitive fire, many construction businesses have adopted construction payroll software as a cost-saving investment.

Five Essentials for Choosing the Best Payroll Software for Construction Businesses

1. Choose a Construction-Specific Payroll Software

 Although there are many generic, off the shelf solutions available, opt for contractor payroll software for construction-specific payroll issues.

Look for software that integrates with multiple payment solutions and helps businesses access accounting data through timesheets. The software should enable a user to create specific burdened rates, provide immediate access to labor entries and help a decision-maker to plan ahead.

A smart construction payroll system provides good financial oversight and tracks all financial recordings, while completing a multitude of other tasks. The software should allow a user to handle multi-project payroll processing, have built-in tax codes and aid project management.

2. Opt for a Cloud-Based Solution

 A cloud-based solution is always up-to-date. IT should be able to calculate pay rates and allow payroll units to stream labor hours and process paychecks in time. It can help determine an estimated forecast of payroll expenses and overall aids in reporting, forecasting and budgeting. Moving away from manual processes can reduce errors, saves time with smart automation, data transfers and calculations.

3. A Flexible and Purpose-Built Solution

 As payroll processing presents unique challenges, a flexible software solution can make the process more efficient and accurate. With so much that can go wrong, builders should choose a purpose-built platform where work classifications, hours and overtime are calculated correctly. Moreover, a platform simplifying wage determination and carrying out a certified payroll can streamline existing processes.

4. Saves Money and Time

 Companies with up-to-date construction software for payroll processing avoid common mistakes that arise due to manual bookkeeping. Automated reports and remote access to payroll data allows contractors to focus on profitability without the dreaded “paperwork.” 

5. Technology Support

Choose a full-service product that has a dedicated support team to assist with demos and trials. Construction payroll is a complex process - but it does not have to be. A dedicated service partner and an all-in-one payroll software can be a critical element to accelerate business and tip the scales towards efficiency and profitability.

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