In a short words, Payroll is a list of employees who get paid by the company. A payroll management calculates the amount you owe your employees based on various factors such as the time they worked, their hourly wages, salaries, and whether they took vacation or holiday time during the pay period. If we talk about process of payroll system there steps required to pay employees each pay period and involves employees’ hours worked, their pay rate, and deductions. Processing of payroll software is also ensures employees are paid based on their employment status and other Department of Labor (DOL) requirements.
Payroll management is a method of administering employees’ salaries in an particular organization. Payroll management can also be called as an accounts related activity which commences the salary administration of employees in the organization. Our Payroll Management software ‘PHP Payroll’ is fully integrated with accounts and give’s the benefits of simplified Payroll processing and accounting.
The following are reasons to consider having a ‘PHP Payroll’ for your business:
- It is time-saving.
- Maintains payroll information
- Easily optimizes for your processing
Any types of business with employees should have a payroll process established; payroll system is a type of most valueable management often the largest expense for a business. An effective and efficient payroll management will ensure that employees are paid accurately and consistently, keeping them satisfied with this aspect of employment and allowing HR to focus on other areas.
A payroll management software designed to organize all the tasks of employee payment and the filing of employee taxes. These tasks can include information about employee records, keeping track of hours, calculating wages, withholding taxes and deductions, printing and delivering checks, completing direct deposit, paying premiums to insurance carriers, and paying employment taxes to the government.
Payroll management is a business related operation for every organisation. A effective computerised payroll management can help you carry out your pay run with greater speed, efficiency and confidence. A payroll system is an effective compliance software for businesses. It is most imperative for your business and related services and information, because it maintain a steady and regular financial process by which they can pay their employees on time.
Advantage of Payroll Software for your business:
- Helpful for payroll calculations and deductions quicker.
- calculate payslip, invoices, holiday pay, etc with minimum effort
- generate accurate payslips