Essential Features of Payroll Software
Payroll administration is one of the most essential business processes performed by the company. But this payroll administration is time-consuming to track the daily activities and doesn’t generate any direct revenues. This is the reason you require payroll software, so you can concentrate on income generating strategies and daily core tasks. And this software has many features which are essential for small to large scale business. Some of the features are
Payroll Processing
Payroll software has the payroll processing function. Now in the market, the payroll software has the integration capabilities which help to link the system to leave applications, timekeeping, overtime pay rates etc. Through this feature saves a lot of payroll processing time.
Direct Bank Disbursement
A direct bank disbursement is probably going to resonate well with both your HR division and employees. By directly paying the monthly salary into the employee’s bank account, it resolves the paper cheques issues and saves your company money and time. Moreover, it mitigates the risk of lost cheques or misrepresentation cases. The best part – the funds are accessible immediately after disbursement.
Tax Calculations and Filing
Payroll software removes the tedious printed material from tax calculation and filling. Human calculation errors are reduced through the automated calculations. Moreover, employees’ tax forms are pre-filled using previously available data in the system. This mitigates the undesirable situation of submitting tax documents with missing employee data.
Besides, automated filing guarantees that your organization and employee’s taxes are documented on time. Therefore the company is not struggling in penalties for late submission.
Payroll Compliance
In the payroll software, employees’ personal and important payroll information is stored. Through the payroll compliance system, you can easily prevent data leak such data are employees payroll information, employees personal information.
Employee Self-Service
Though this software, the employees can do some of the payroll works. Through the employee payroll access, they can fill their time attendance and view the history of payroll. Based on their time-attendance monthly salary will be calculated at the end of the month.
Accounting Integration
Through the accounting integration feature, accounting functions are integrated into the payroll software. It reduces the chances of miscalculation, incorrect data entries
Are you looking for the payroll software providers? Keep User basic software in mind. We provide payroll software with e-Claims and eLeave to improve your payroll process.
Feel free to call us @ 65-6746 2613 or 65-6227 1797 and Email us on info@userbasicsoftware.com for the live demo on any kind of Singapore accounting software.
