Payroll Management System
Time Attendance and Payroll Management System is the method used by payroll professionals to pay employees for their services. Regardless of the type of system used, there are basic functions that must be performed-calculation of hours worked, deductions and benefits (auto allowance, vacation, personal time).
A payroll management system is a software program or system application that is used by companies to manage the financial aspects of the salary of its employees. This system oversees areas related to payroll, salaries, allowances, deductions, and net pay, as well as generating payslips within a prescribed period.
Because it is a software program, the most obvious benefit of using a payroll management system is its ability to automate otherwise complicated manual computations. Computing for deductions, income taxes, benefits, allowances and the like can be done in less time as compared to having someone crunching numbers for each and every employee. This results in time savings as well as a lower incidence of miscalculations attributable to human error.
Payroll is a method of administering employees’ salaries in an organization. The process consists of calculation of employee salaries and tax deductions, administrating employee benefits and payment of salaries. Payroll system can also be called as an accounts activity which commences the salary administration of employees in the organization. Our Payroll Management System is fully integrated with accounts and give’s the benefits of simplified Payroll processing and accounting.
For small businesses, payroll system software can eliminate errors in the payroll process and eliminate excessive effort involved in calculating employee hours, wages and tax withholdings. Payroll software is easy to use and often times very affordable for small businesses.
Small business owners can purchase an affordable system accessible on their local computer or via cloud service. Purchasing software eliminates the expense of hiring an in-house accountant for payroll processing. Lastly, small business owners can maintain more control of the payroll process by using software. Using payroll software allows the business to compile reports at whatever pace they desire.
The Payroll Management System deals with the financial aspects of employee’s salary, allowances, deductions, gross pay, net pay etc. and generation of pay-slips for a specific period.
The outstanding benefit of Payroll Management System is its easy implementation. Other advantages of Payroll Management System are its extensive features and reports.
Now managing your payroll data will be easier than ever before. You can upload data at one go as well as export them in organized spreadsheets with our free online
Create and manage multiple salary structures for various seniority levels with our payroll management system. Keep a record of all available salary structures and allot them with utmost ease. Automatically calculate salary heads based on latest IT and Govt. compliance norms.
Setup and automate the most complex payroll procedures with ease and run your entire payroll process with a single click using sumHR’s payroll software. Our systems will check and identify any errors to make life much easier for you.