What Is Pay Roll Management System?
The design of the Payroll system is specifically aimed at reducing the technical support, administration and end-user operating costs. 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.
In Other Words:
If your business has one or more employees, you should have a payroll system in place. An automatic payroll process helps you comply with legal and tax requirements and simplifies the process of paying your employees. Many employers outsource the payroll function to an outside vendor or use payroll system software instead of relying on manual processes.
Effective strategies for payroll management within a company include integrating the payroll with related systems, customizing pay delivery for various employee segments, consolidating payroll processing to minimize pay cycles and keeping up with the state and federal tax requirements. These strategies help finance and human resources executives realize the full potential of payroll best practices.
Payroll Management System gives you the power to:
Manage Employee Information Efficiently.
Define the emoluments, deductions, leave etc.
Generate Pay-Slip at the convenience of a mouse click.
Generate and Manage the Payroll Processes according to the Salary Structure assigned to the employee.
Generate all the Reports related to employee, attendance/leave, payroll etc.
Manage your own Security.