Tackle Your Payroll Processing by Purchasing a Competent Payroll Software

The owner or the manager of a Small and Medium Enterprises (SMEs) needs to be careful and generate revenue with each of their activities. Most of these entities are short-handed and their employees are master jugglers doing a number of tasks simultaneously. Is it proper to waste their time by making them or a select few of them do the payroll processing manually? You can do better than that, start using a payroll software.

According to the Employment Act of Singapore, each Singapore company needs to pay their employees at the end of each pay cycle. There are many who have not yet harnessed the power of a payroll software. The staff from the HR or the Finance department are tasked with the manual processing of the payroll. It keeps on going throughout the month, because, recording the employee's attendance and keeping updated time sheet is also part of the task. It also needs supervision.

Logically, an SME should start using a Payroll Software Singapore when it starts to grow and expand its workforce. In absence of the tool processing payroll for them all manually, becomes increasingly harder. There are a number of components that goes in payroll processing.

During the manual calculation of employees' salary factors like, leaves taken, holidays, employee's grade, location, incentive, benefits, taxes and deductions of statutory contributions like CPF, Foreign levies, etc., can be tiresome. Sometimes, the individuals in charge of the payroll processing fail to accommodate the changes in the rules related to the payroll. It can lead to inadvertent errors and be the cause of souring of relations between the employees and the company management.

The payroll software systems give you accurate payroll. They are limited only by the accuracy and quality of their input. The manufacturers of the payroll software update them whenever there are changes in the rules and regulations. It relieves the businesses using HR and payroll software systems from having to keep up with these changes.

The tools like Payroll System are very useful to the HR department. It uses the bio-metric finger scanners to collect the attendance data. It also keeps track of coming and going off of the employees out the work area. The data lessens the workload of the HR staff and proves useful in the calculation of accurate salaries. The system is tamper-proof and prevents the over-payment of the salaries.

The Payroll System assists the SMEs and big organizations in following tasks.

• Employee Management

• Master Setup Management

• Company Management

• Leaves Management

• Reports and Enquiry Management

• Reports and Dash Boards

• Scheduler Management

• Tracking

• Reporting

• Billing & Invoice Management

In addition, it helps the company in employee claims management. The Payroll System simplifies the process by allowing the employees to upload their receipts. It speeds up the process by enabling the authorities in acceptance or the rejection of the claims.

The business wants to track of employees' details. The payroll system allows the company management do so by providing support for the Progression Planning. If the employees have any issues they want to discuss with the management, the tool allows them the use of SMSs and Emails.

Use of HR and payroll software is the need of time. It helps the company in the better use of its human resource and in increasing the overall productivity of the organization.