Yes, Novo offers dedicated payroll services specifically designed for small businesses. Novo Payroll is a solution that allows businesses to manage their payroll seamlessly within the Novo platform.
Novo Payroll: Streamlined Solutions for Small Businesses
Novo has expanded its financial toolkit to include comprehensive payroll services, making it easier for small businesses to handle their employee compensation and related financial tasks. This service is integral to the Novo platform, providing a unified experience for managing business finances.
Key Features and Integration
Novo Payroll is built to simplify the complexities of payroll management. Here's how it works and what it offers:
- Powered by Check: The payroll service is powered by Check, ensuring reliable and efficient processing of payroll.
- Fully Embedded: Novo Payroll is seamlessly integrated directly into the Novo platform. This means that businesses can manage their banking, accounting, and now payroll, all from a single dashboard.
- Utilizes Novo Reserves: A significant advantage of Novo's integrated payroll is its connection with Novo Reserves. This feature allows customers to easily set aside funds for various purposes, including:
- Payroll expenses
- Tax obligations (payroll taxes)
- Savings goals
- Other operational expenses
This capability provides built-in accounting and budgeting tools, helping businesses maintain better financial control and ensure that funds for critical expenditures like payroll and taxes are always allocated.
Benefits for Businesses
Implementing Novo Payroll can offer several advantages for small businesses looking to streamline their financial operations:
| Feature | Benefit |
|---|---|
| Integrated Platform | Consolidates banking, accounting, and payroll in one place, reducing administrative burden. |
| Automated Fund Allocation | Use Novo Reserves to automatically set aside money for payroll and taxes, simplifying budgeting. |
| Enhanced Financial Control | Provides a clear overview of cash flow and allocated funds, improving financial planning. |
| Designed for Small Businesses | Caters specifically to the needs of small and growing businesses, making complex tasks manageable. |
By offering payroll services, Novo aims to be a comprehensive financial partner for small businesses, helping them manage their funds, pay their employees, and handle tax obligations more efficiently.
