Payroll Module

"Don't count the days, make the days count."

Any business that has more than one employee needs a payroll system. Paying employees invariably and with no delays boosts the employee's morale, and also it reflects on the organization's financial stability. The companies calculate the salaries based on total month days, total working days, or total working days and holidays, it depends from company to company.

Solutions For...

Q.
Does your application able to create dynamic allowance deduction based on formula or slabs or dependent formula?
Q.
Are you able to create multiple salary structure and assign it to multiple employees grade-wise or employee wise?
Q.
Are you able to judge payment towards different payment heads?

Useful Module

The payroll module is the management of an employee's financial records which includes the salaries, bonuses, deductions, benefits, expenses, etc. Payroll administration is one of the most pivotal processes any company performs, yet one of the most complex and tedious process. It works in collaboration with attendance module to accurately track absences, increments, leaves, shifts and use this data for calculating the allowance for the employee.

Efficient and Accurate

Using a payroll module in an enterprise ensures that the process is time-saving and devoid of errors. Payroll management procedures are time-taking and susceptible to error when manually performed.

Data Centralization

The payroll software keeps calculations consistent and automatically takes account of the key factors like salary grade, benefits, expenses, allowances, and deductions.

Taxes

Payroll software enhances the business automation, which makes it easy to calculate taxes owed and paid per employee. Therefore payroll management software is a necessary tool to avoid late payment penalties. The more advanced payroll management solutions provide features like income tax projections, TDS estimates, and annual tax-saving investments.

Quick Access to Employee Data

It centralizes employment data, such as, contracts, performance records, leaves, time sheets, offer letter, experience letter, employee profiles, organizational charts, overtime details.

Leaves Administration

The payroll software allows employees to submit leave claims and monitor their leave balance, and their respective managers can approve or decline such requests on the system itself.

Payslips & Forms

The payroll module also generates reports like salary statements, benefits reports or leave summaries. Employees also access this platform to check or print payslips.

Features

Other features of the modules which complete the work cycle of Payroll module.

Cloud Vs On-Premise

Payroll management can be cloud or on-premise, It solely depends upon your needs, but we will still list out some pros and cons for both. Cloud has low a capital framework, consistent updates, easy setup, minimal maintenance, convenient support, multi-device accessibility, flexible features. But it binds you to a never-ending monthly cost and data is stored in servers you can't control. On-premise takes up huge investment for licensing and servers, and requires technical talent to install and maintain the system and has downtime for upgrades. But in this case data stays with you and there are no repeated costs like Cloud.

Cost of Ownership

License fees or monthly costs isn’t the only fees that come with payroll management module. This Module has no hidden fees which bloat the budget of the organization. Other modules may strap you down with features you’re paying for but don't need. Therefore we ensure to provide you the module according to your requirements and charging you only for the same. Make sure to pay only for the features that you use to keep the expense to the least.

Customized Version

We can't grow a stable business, without happy employees, hence we focus on key payroll functions that meet your unique requirements.

Adaptability

The payroll management system should stand the test of time and match your growth pace. Hence it is mandatory to plan ahead and anticipate what features you might need in the coming years when there will bemore users, more employees, more branches.

Blending Ability

The payroll module should be able to integrate with the HR and Time and attendance module efficiently. As your business expands payroll management will get more complex and would need to integrate with other applications.

Highly Effective

Payroll management module system updates itself making sure that all of the compliance are abided by. Errors can be avoided by using this system to process employee forms, hours worked, benefits, organizational charts, and many other matters rather than manually. Using our system highly reduces your chance of making errors that result in non-compliance and can create havoc for your finances. Always opt for a management module which can reduce your stress of keeping yourself abreast with the changing compliance by automatically updating itself with the changes in rules and regulations and by updating the user with the information for the laws that are directly going to affect their respective business.

" Don't count the days, make the days count. "

Tags ;

Payroll Processing SoftwarePayroll Management SystemHR Payroll SoftwarePayroll Management SoftwareBest Payroll Software