So far, the process of calculating wages for employees has always been a fear at the end of the month for managers. It consists of building a completed job board and calculating the salary for each person. This job requires a lot of time as well as care because even a small error affects the staff. Therefore, in today's article, let's Johnson's Blog learn about payroll software as a lifesaver for business managers.
What is payroll software?
Payroll software is a tool to support managers in making statistics, evaluating and handling operations related to salary payment. Any task from recording timekeeping results, creating payroll files, printing pay slips, informing employees is handled and performed effectively by the software.
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Great benefits from payroll software
Can not deny that Benefits of payroll software bring to the user is immeasurable. Here are some of the main uses:
Increase accuracy in calculation
Often, if processing payroll manually, it is easy to encounter situations where the employee calculates the error, causing unexpected consequences. For payroll software, math operations are pre-installed (both simple and complex) and all calculations are automated. Thus, errors in calculation will be significantly reduced, helping to avoid losses on the corporate budget.
Moreover, the software also supports automatic data processing from timekeepers, processing excel files for salary calculation and preparing payroll, etc. Reputable salary software will take care of these tasks well, ensuring fully automatic, easy for managers to effectively control.
Save time calculating salary
Even when the company recruits new employees, registering to the payroll in the payroll software is easy and fast. All the information you need to enter includes (basic information, salary details, taxes, payment information).
Moreover, as shared, the process of statistics, data processing from timekeepers, salary calculation and invoicing all happen automatically. Therefore, the manager or human resources department will save a lot of time for this payment.
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Easily track payroll expenses
In any business operation, the calculation and payment of wages is required to take place on a regular basis. In particular, the larger the enterprise, the higher the cost of wages, so the manager needs to have detailed reporting information about the monthly salary expenditure.
That is why the payroll software is integrated with tracking and reporting of monthly salary funds for all departments, calculating salary by each criterion (hours, KPIs, ..), comparing budgets. whether the salary policy is suitable for the conditions allowed or not, …
Confidentiality of salary statistics by position
If you want to export information about the timekeeping and payroll process with an excel file, it is easy for many employees to access and capture the information. This can lead to unpredictable consequences because wages, taxes, and bank accounts for each employee are all personal information.
Therefore, Benefits of payroll software including upgrading the security of payroll information by closely controlling access. Managers can assign multiple roles to each department and prevent unauthorized access to the software.
Although on the same interface, employees can only see their salary information, only senior managers have the right to view all information in the table.
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Salary software evaluation criteria
There are many payroll software currently on the market, each with its own strengths. However, to judge whether the software is of good quality, you can refer to the following criteria:
Easy-to-see, easy-to-use interface
A standard software will have a simple interface, helping to optimize the adaptation time of managers because they simply lack time. Typically, this type of software will use a user-friendly interface, contextual features, and an intuitive experience to ensure that even the elderly can learn to use it quickly.
Easy to change according to business salary rules
Hierarchies in an organization can be simple or complex, ranging from executives to interns. Therefore, payroll software must include a feature that allows managers to easily and flexibly change the formula for calculating salary, allowance, deduction, and refund.
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If the payroll software provided to you can only work in the corporate intranet, it will cause a lot of inconvenience in case you have to go on a business trip or have an unexpected job. Therefore, choosing software that only needs a phone or computer with a network connection to be able to access is a more appropriate choice. That will help you manage your salary budget wherever you are.
Through the above article, Johnson's Blog Hope you have some understanding of the benefits and criteria of payroll software. If you have any questions or concerns about any business related matter, you can contact us.
Johnson Vu – Deputy General Director of Viindoo Technology Joint Stock Company
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