Church Payroll Software Cost and its Benefits
One option for churches is to outsource payroll responsibilities. Payroll services typically charge $1 or more per check, with a minimum fee of $10-25 each pay period. Additional fees are often incurred for quarterly reports and W-2 preparation. These fees can amount to a substantial number over time.
Another option is for the church to purchase payroll software, which usually requires annual upgrades. These upgrades are not only expensive, but the installation process also consumes your valuable time.
The Icon Systems payroll module provides you with an unlimited number of paychecks and pay periods for any number of employees for only $110 a year. Since the system is entirely web-based, upgrades are automatic and cost you nothing extra. Additionally, the web based capability allows payroll checks to be prepared offsite but printed on location for the staff.
Price should not be the only factor considered when choosing a payroll system. The benefits of using the right church payroll software are numerous; however, we summarized the most important ones here.
- Confidentiality – Church payroll software needs to be password-protected so only authorized people have access to this confidential information. You can have volunteers and staff members use the system to enter contributions and even process accounts payable checks without making sensitive payroll figures available.
- Accuracy– The importance of accuracy in any church payroll system cannot be overemphasized. Not only do employees rely on the church to calculate paychecks correctly, but reports created for the IRS and other government entities also need to be accurate. Issues concerning pay tend to quickly dissolve trust in any organization, not to mention inaccurate reporting to the government could result in heavy fines.
- Integration – Using separate church payroll software requires you to summarize the information and record the journal entries in the accounting system. Since the IconCMO Payroll module links directly to the fund accounting records, you are able to allocate staff pay to various funds as well as obtain up-to-date, detailed reports that comply with guidelines set by the Financial Accounting Standards Board (FASB.)
- Reliability – Icon Systems has been in the business of helping churches for the past 20 years and its certified church accounting software follows the FAS 95 and 117 guidelines. Since you trust Icon Systems to take care of your organization’s accounting needs, it makes sense to turn to us for your payroll needs also.
We hope you have enjoyed reading this two-part series about church payroll software – if you missed the first post, you can read it here.