Why Use Payroll Software?
World has adopted the modern age of Information Technology (IT) and so is rapidly advancing towards the idea of employing computers to nearly everything which is not only making things hassle free and error proof for their business but also at the same time it is making the things easier to configure and manage.
One such thing is the new in line payroll software. If you are an employer then you will exactly know the trouble that one has to go through in order to calculate the employee payroll and to file the necessary budgeting to the authorities respectfully. The payroll software has all these things figured out for you at an ease of a click. Calculations and the filings are as easy as a piece of cake. It maintains the record with an easy access to a particular data filling without the hassle of going through tones of paper work.
Most of the companies have to hire a professional to do the job of payroll accounting and budgeting service. When it comes to human handling and manual calculations, there is always a room for error and hence one cannot be certain of the credibility.
On the other hand, payroll software is one time investment and hence it can save a lot of time and energy on the part of employer. Moreover there is no chance of any discrepancy or error. No matter how much the workload is, payroll software will work efficiently with blazing speeds of processing and filing simultaneously.
One salient feature of the payroll software is the time saving that it offers to the employer and the company in general. This can also be attributed to the improvement in productivity. There is no need for paper filing and record maintaining which is usually done manually. Moreover, individual salaries are a hassle to calculate and on top of that the statutory salaries and allowances may also interrupt and slow down the process of payroll department. The record keeping of time attendance and to tally it with the working hours might come off as a tedious task. A payroll software is capable of keeping track of not only all these aspects simultaneously, it keeps on adding new data and concedes it with the older one from time to time.
Benefits of Payroll Software
Some benefits and key features of a complete payroll system can be numerous and hence it is one of the most integrated and efficient software out there in the market. Some of the key features are discussed below.
- Rapid calculations of allowance and taxes and the subsequent data sharing with the authorities as well as other regulatory bodies to pay accurately.
- Electronic backup is also maintained in order to relax the whole process of budgeting and make estimated projections regarding the system provision and demands.
- Calculations are always specific, to the point and precise and in the case an error is seen in the data input it is pointed out which saves the rest of the data from getting upset. This error screening helps in keeping a crystal clear record that can be accessed at any certain point from time to time without any hassle.
- Accurate, comprehensive payslip or reports for accounting.
Payroll Information System (PRIS)
Our Payroll Information System is a one of the leading Payroll Software which is in the Singapore IRAS and CPF published list of Payroll Software and E-submission Service Providers. The payroll software is modular and flexible where it can function as a standalone software or integrate seamlessly with other suite of HRMS solutions such as the HRIS, Time attendance system and leave management system.
Below is a list of powerful features of Payroll Information System (PRIS):
- Employee Salary Information management
- Support semi-monthly/monthly/weekly rated staffs payment
- Computes CPF, SDF, FWL and pro-rate of salary allowances/deductions
- Flexible computation configuration for FWL, SDF, CPF and various company clocking policies such as Overtime, Lateness, unpaid leaves
- Support e-Giro for various banks like DBS, POSB, OCBC, UOB, HSBC, Standard Chartered, Mizuho.
- Easy to generate and comprehensive Payroll information & financial reports with options to export to Excel/PDF formats.
- Simple CPF submissions by listing, diskettes or CPF online
- E-submission for Tax filing
- Various reports like IR8A, Itemized Payslip, Financial Report, Journal, Allowances and Deductions reports.
- Customize your own reports using the Custom Report Generator.
- Login security and data/application access based on job functions.
Payroll Software or system is an essential and critical components within the Human Resource Management System (HRMS) framework. It works hand in hand with other modules such as the Human Resource Information System (HRIS), Time Attendance System, Leave Management System to deliver the full functionality of Employee Payroll Management. However, our software are designed to be modular where the Payroll Software or System can run standalone to cater for specific needs of your organisation.