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May 31, 2023 Richard King

Payroll Software for Periodontists: 8 Must-Have Features

Payroll Software for Periodontists: 8 Must-Have Features

You know that performing a root canal takes skill, precision, and an unwavering focus.

Imagine you’re about to perform a root canal, and one of your employees says there’s a problem with her paycheck. Business logistics are the last thing you want to be thinking about, right?

Navigating payroll in the periodontal industry is tough. There are unique challenges like changing staff schedules, varying pay rates, and time management. And that’s before you add in administrative tasks and… caring for your patients!

Payroll software might be the answer!

But what should you look for in payroll software? What features do you need to solve your pressing problems? Which don’t you need? Let’s find out! This article details the must-have features you need to run your practice at peak efficiency. Let’s dive in!

 

Must-Have Features of Periodontal Payroll Software

As well as ensuring your patients have healthy gums, you also want to ensure your finances are healthy. Payroll is one of many administrative tasks you must deal with, and it can be one of the trickiest. You’ll face unique challenges like:

  • A mix of full-time, part-time, temporary, and contract employees creates many moving parts.
  • Unique benefits packages and insurance requirements that need to be properly managed.
  • Industry-specific regulations and reporting requirements that make managing payroll complex.

If you decide to outsource your payroll needs, you’ll save time, allowing you to focus on taking care of patients. You’ll also have access to payroll experts who can help you navigate the complexities of periodontal payroll. Lastly, payroll providers like ConnectPay can connect you with experts in taxes, benefits, and more.

Having worked with several dental practices, ConnectPay understands the ins and outs of dental office payroll. By leveraging our expertise and dedication, we can assist you with periodontal payroll issues so you can focus on providing the best treatment possible.

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#1. Industry-Specific Compliance Management

Staying compliant with industry regulations is crucial for your practice. Failure to comply leads to fines, penalties, and a poor reputation. Your patients might even lose trust in you. Reputation is everything. You want your patients to know they’re in safe hands.

To effectively manage periodontal-specific compliance, look for payroll software that simplifies tax filings and deductions. For example, you should be able to:

  • Accurately calculate deductions and contributions based on your practice's unique requirements.
  • Generate necessary tax forms, like W-2s and 1099s, and even electronically file them when possible.
  • Get notifications about upcoming deadlines, ensuring you never miss a filing date.

Lastly, your payroll solution should keep up to date with any changes to laws and regulations. Your software should alert you to any changes, offer resources to help you navigate changes, and provide a team of experts ready to answer your questions.

 

#2. Seamless Time and Attendance Tracking

Smooth daily operations and accurate payroll rely on efficient time and attendance tracking. Choosing payroll software that seamlessly integrates with your scheduling system helps to:

  • Synchronize schedules and time-tracking data so you don’t need to enter data manually.
  • Make it easier for employees to request time off, swap shifts, and for managers to approve or deny requests.
  • Create insightful reports on labor costs, productivity, and trends that help you make informed scheduling decisions.

A comprehensive payroll solution should also make it easier to manage tracking employee hours. For example, employees should be able to clock in and out easily. The software must be able to account for meal and rest breaks (ensuring compliance with labor laws), and automatically calculate overtime pay.

Lastly, automating accruals saves time and effort instead of manually managing paid time off (PTO) and sick leave. Set up rules based on your practice's PTO and sick leave accrual policies, including accrual rates and maximum limits. To take this a step above, enable employees to view their balances.

Related: What is PTO? A Guide to Holidays, Vacation & Sick Time

 

#3. Streamlined Benefits Administration

Can your payroll software simplify benefits administration? If not, it’s time for a change. To help your periodontal practice manage employee benefits, payroll software should be able to manage:

  • Dental insurance: Manage employee coverage, including plan details and enrollment status.
  • Retirement plans: Track employee and employer contributions and ensure accurate deductions for retirement plans, such as 401(k)s and IRAs.
  • Paid leave: Track and manage different types of paid leave, like vacation, sick leave, and parental leave.

Deductions are tricky. If you do it manually, you risk making errors. Payroll software should calculate deductions, update deductions if employees change their benefits, and generate reports to help you monitor costs and stay compliant.

Finally, it helps if you provide your employees with a portal to enroll in or make changes to their benefit plans, view plan details, and access relevant documents.

 

#4. Tax Filing Assistance

Taxes, deductions, withholdings… Does thinking about all things tax make your head spin? You’re not alone.

Payroll software for periodontal practices should calculate taxes, like federal, state, and local taxes, as well as Social Security and Medicare contributions. It should also handle employee benefits, retirement plans, and other tax-related deductions, ensuring your payroll is always accurate.

Payroll providers like ConnectPay offer assistance with preparing and filing tax forms on behalf of your periodontal practice. Creating W-2s, 1099s, and other necessary tax documents for your employees and filing quarterly and annual tax returns are all part of this process.

Lastly, payroll providers will provide timely reminders for upcoming tax deadlines to keep you in good standing with tax authorities.

 

#5. Intuitive User Interface and Reporting

Your office staff manages various tasks throughout the day. To make their jobs easier, payroll software with an intuitive interface and robust reporting is a must. Critical aspects of a user-friendly design include intuitive navigation, helpful tips and guides, and a clean, visually appealing design.

Detailed payroll reports help you stay on top of things. Look for software that lets you quickly generate financial reports, giving you insights into labor costs and overtime trends, as well as information that helps ensure compliance with tax and labor laws.

Finally, you need access to your payroll data in real time. Real-time data analytics help you make timely staffing, scheduling, and budgeting decisions. You’ll also be able to identify and resolve errors quickly, and spot trends and patterns in your payroll data.

 

#6. Secure Data Storage and Backup

The one drawback of storing all your employee records in one place is that they’re open to unauthorized access, data breaches, and other potential risks. Data security is essential. Payroll software should have robust security measures like data encryption and multi-factor authentication.

Before you sign on the dotted line, ensure your payroll software complies with data security regulations and industry standards, such as the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR). You’ll protect sensitive employee information and reduce the risk of fines, penalties, and legal issues.

Without sounding all doom and gloom, you should also have a reliable disaster recovery plan. Payroll software might do it automatically. If not, you need regular data backups, on-site or in the cloud, and a clear plan for restoring data in case of a system failure or other unexpected events.

 

#7. Responsive Customer Support and Expertise

It’s tempting to choose big-box providers for payroll software – they promise an intuitive interface, low prices, and all the bells and whistles – but they often fall short in the customer support department. Conversely, small business payroll providers want to work with small businesses to solve their payroll needs.

Related: Ultimate Guide: Payroll services for small businesses.

Customer support should be available through multiple channels, like phone, email, and chat, so your periodontal practice staff can choose what works for them. Your team can easily get assistance, guidance, or troubleshooting when they need it with various support options. Maintaining smooth payroll operations can be easier with this level of responsive support.

Finally, you need payroll software that offers regular updates, training resources, and ongoing support to keep your staff informed. This might include webinars, workshops, articles, and other educational materials on managing payroll, industry trends, and best practices.

At ConnectPay, we understand that support is what you need most. Your dedicated Connected Service Representative is only a phone call away, and you’ll never reach a voicemail within working hours.

 

#8. Cloud-Based Access

With cloud-based access, you can access payroll data from anywhere, anytime, and on any device. Periodontal practice owners and staff can manage payroll even when away from the office, so essential tasks get done on time.

Also, with real-time updates, data is current and accurate. This reduces the risk of errors and discrepancies. Further, automatic software updates ensure your payroll system is always up to date. You won’t need to intervene if there are changes in industry regulations or tax laws.

Finally, with multiple users able to access and update payroll data simultaneously, your team can work together to manage payroll tasks and resolve any issues.

 

3 Options for Payroll Software

1. Gusto

Gusto is easy to set up and use. You get unlimited payroll runs, and it handles your payroll tax filings and year-end reporting. 

They specialize in HR and even offer a contractor-only payroll option. Time-tracking and hiring tools aren’t available on every plan, and you’ll struggle to reach customer services at certain times if you’re not on the higher payment plan.

Pricing: Simple pricing starts at $40 per month plus $6 per person. The Plus plan is $80 per month plus $12 per person. You’ll need to talk to a sales representative for the Premium plan.

2. Paychex

Paychex, part of the SurePayroll family, offers flexible and automated payroll processing online from desktop and mobile. You can pay different types of workers, and there’s an online employee self-service option.

Pricing plans are reasonable, but if onboarding and accounting software integration are essential to you, you’ll need to sign up for their premium plan. 

Pricing: Starting at $39 per month + $5 per person. Higher plans require you to call for a quote.

3. ConnectPay

We might be slightly biased, but we have all the features small businesses need to run payroll effectively. 

In addition to transparent pricing, our connected model offers user-friendly technology and reports, human support on a first-name basis, and access to reputable HR and insurance partners.

Related: Why Dental and Doctors Offices Benefit From Payroll With ConnectPay | ConnectPay

But don’t just take our word for it…

“From the very beginning, I’ve never had one payroll complaint from our accountant. My Connected Service Rep always knows what I’m talking about when I ask questions, which I do, a lot. Actually, everyone I’ve ever spoken to is knowledgeable and cheerful. ConnectPay must leave their bad moods at home.” - Anne Rosenthal, Brookline Periodontal Associates

 

Payroll Software for Periodontists: Smiles All Round

You know what to look for when searching for the perfect payroll solution for your periodontal practice. From industry-specific compliance management to tax filing assistance, a robust payroll software provider will handle everything payroll touches.

Working with a payroll provider that understands the intricacies of the periodontal industry and offers a customized solution, rather than a one-size-fits-all approach, is crucial for the smooth operation of your practice.

At ConnectPay, we know that every business is different, but many are looking for one thing: support. And we’re happy to provide everything you need to run payroll, and nothing that you don’t. So what’s the next step?

Book a free consultation with our payroll experts. We can pinpoint where you can save time, money, and stress in your payroll. We’ll either find no issues with your payroll, and you can sleep easy at night, or we’ll uncover areas you’re overpaying and dealing with inadequate services. It’s a win-win!

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Published by Richard King May 31, 2023