epayroll system

The shift from a manual payroll system to an automated one can save a lot of time. It not only does quicker and correct payroll process however also keeps the employees, management, and regulatory bodies happy.

There are some options that you should consider while choosing payroll software.

 

Ease of operation

The payroll function can be very cumbersome. You should select a system that has comprehensive but straightforward workflows. If the software is intuitive, it reduces the necessity for software training and guidance. Also, make sure that the software supplier is providing well-updated documentation so you'll be able to access the information anytime as you may need.

 

Scalability

As organization size will increase your software package additionally have to be compelled to serve you suitably. The limitation may be in terms of employee’s data it processor in terms of the supply of options like leave and attendance management, reimbursement model, etc. The software package offerings should be such that you'll decide on advanced options at an affordable worth without a lot of difficulties.

 

Employee self-service module

One of the first payroll input providers is the employee. He provides info like tax saving investment declaration, type of versatile profit opted, etc. The interaction between the payroll officer and employee is sometimes very event-based. To know the importance of the ESS module let’s assume a case of income tax declaration in 2 scenarios:

So, we saw how a straightforward tool like a worker self-service portal will reduce the manual intervention and automatize payroll information assortment for correct tax computation.

 

Integration with time, attendance, and leave management system

 

Time management

Typically this module is employed to trace time spent on projects or specific activities. Consulting companies like audit companies, specialist doctors, etc., who manage essential projects need a robust time management module for tracking time and at times this information may additionally be used for billing clients.

 

Attendance

While most little organizations opt for a manual attendance system, medium and large organizations have started using sensible automatic tools like biometric methodology, auto-tracking via system log-in, access cards, iris capture, etc. The data is stored in a system and linked to the payroll software that uses this data to calculate attendance days, overtime, etc. For seamless payroll process, confirm package supports attendance management and is configurable with access control machines.

 

Leave management

In each organization, employees are entitled to take a particular variety of leaves like privilege or annual leave, casual leave, sick leave, holiday, etc.

If the software has a leave management feature, HR will directly credit these leaves to the account of each eligible worker. As and once needed, the worker will apply for leave through the system. A decent system should even be able to outline a workflow to notify the employee’s manager for either approval or rejection. Robust payroll software with inherent leave management features will facilitate attain accurate payroll.

 

Integration with the accounting system

Your accounting/ERP system must record each financial dealing together with payroll information like department wise employee cost, individual payroll parts like reimbursements, tax due and pay, etc. Some of the payroll software has integration with accounting software via API (a way to push data directly from one software to another).

In the absence of such integration, the payroll officer must give all dealings details to the accounts department. The accountant then manually posts it in the form of journal entries in accounting/ERP software systems like Tally ERP, SAP, Quickbooks, etc. These integrations will facilitate the finance and payroll team work together and avoid any manual entry of data.

 

Cloud-based software over on-premise solutions

The payroll management automation space is transforming rapidly. The on-premise software solutions became obsolete and businesses are going for cloud-based solutions because of their advantages.

 

Ability to access the data at any time and from anywhere

If you employ cloud software, you do not need to be present in your workplace to be able to access your payroll data and worker information. You’ll be able to log in from anywhere at any time just like Gmail.

 

The advantage over the inherent limitations of on-premise systems

The on-premise systems have their limitations just like the threat of information loss by fire, flood, etc. Also, the setup price of those systems is huge and comes with an initial operation limit. Typically the annual maintenance price is quite high. Whereas the cloud solutions are built on such technology, thus you can always select an upgraded plan that supports the next level of operations at any time. Since cloud solutions have data centers at multiple locations, even throughout incidences of fire, flood, etc. your information remains safe.