💲Is Payroll AI Right for Your Small Business?

[Fit Small Business]( Expert Insights on HR July 31, 2024 Our Expert’s Topic for the Week: Is Payroll AI Right for Your Small Business? Automating payroll using artificial intelligence (AI) can help streamline the payroll process by handling complex functions automatically. However, AI is still fairly new and there are issues that can arise from its use, such as filtering and adapting new tax laws, wage and benefits compliance, and misinterpretation of information. While it can be helpful and save your business time and money, it is always a good idea to have a human review payroll before final processing. - Jennifer Soper, Robie Ann Ferrer & Genevieve Que   Stay Current   - Inaccurate results can arise from the use of AI in payroll, such as misidentifying employees, omitting information, or creating non-existent employee data. - According to a study by PayrollOrg, 62% of business leaders are comfortable using AI in payroll, however, only 52% of employees are comfortable with it. Here are the articles covered in today's edition. - [Payroll Automation: Guide for an Automated Payroll System]( - [Decoding AI in HR: A Comprehensive Guide for Small Businesses]( - [HR Outsourcing Trends in 2024](   [Payroll Automation: Guide for an Automated Payroll System]( [Payroll Automation: Guide for an Automated Payroll System]( Payroll automation uses advanced technology—particularly through software—to streamline and simplify the complex process of managing employee pay. It can reduce errors and save time and resources for your small business by calculating wages, taxes, benefits, and deductions automatically.   [Decoding AI in HR: A Comprehensive Guide for Small Businesses]( [Decoding AI in HR: A Comprehensive Guide for Small Businesses]( Using Artificial Intelligence (AI) in Human Resources (HR) goes beyond simple automation of tasks—it takes it a step further by learning from data patterns and making intelligent decisions. It involves using machine learning, natural language processing, and other advanced technologies to improve HR processes, make informed decisions, and predict outcomes. From talent acquisition to employee engagement, AI is revolutionizing the way HR departments operate.   [HR Outsourcing Trends in 2024]( [HR Outsourcing Trends in 2024]( The use of AI in various HR processes is just one of the prevailing trends businesses will see this year. Explore the other HR outsourcing trends to give you insights in your decision-making. Based on Your Latest Reads   [How to Calculate Vacation Accruals (+ Free PTO Calculator)]( Small businesses that offer PTO must calculate accruals appropriately to avoid penalties. Use our free PTO calculator to help. [Free Excel Test for Interviewing Candidates]( An Excel test for interview candidates can show a person’s proficiency in using Excel. To assess candidates, download our free Excel test. [How to Do Payroll in Excel: 7 Simple Steps (Plus Step by Step Video and Free Template)]( Doing payroll in Excel is best for businesses paying 10 or fewer employees and operating in states without complex labor and tax laws.   Latest in HR   [9 Best Payroll Software for Small Business Users in 2024]( Aside from being affordably priced, the best payroll software for small business users calculates employee wages and deductions accurately and pays and files payroll taxes automatically. Most offer unlimited pay runs, paid time off (PTO) tracking, two-day direct deposits, employee self-service portals, and access to employee benefits.   [6 Best Payroll Apps in 2024]( The best payroll apps let employers handle payroll right from their smartphones or tablets. While the apps are usually free to download, you’ll typically need to pay for the service to access its features. Some payroll apps don’t allow e-filing for payroll taxes, but others offer full functionality, letting you run payroll, pay employees and taxes, and approve time—all via the app.   [6 Best International Payroll Services in 2024]( The best international payroll services allow you to pay workers located in other countries and comply with local tax and labor laws. Some have separate plans for paying global contractors, while others offer employer of record (EOR) services—allowing them to handle your international employment needs. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer, & Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe](