Are you struggling to manage your monthly payroll? Is the year-end tax preparation a nightmare? Are simple mistakes in calculations costing you too much? Don’t worry, you are sailing in the same boat as every other small and medium business in India.
In India, payroll processing is complex. It is high time to shift to automated payroll systems which will make our lives easier in managing payroll and also will help use our time effectively.
To be able to choose the best payroll software India, you will need to familiarize yourself with the features mentioned below. These will help you make the right choice.
Complete automation: Make sure the complete process is automated and there is not much of manual effort required in managing any part of the payroll process. You don’t want to be stuck with administrative work in spite of switching to an automated tool.
Customization: You should be able to customize the software as per your needs and policies and make it suitable to your method of operations.
Flexible Access: You should be able to access the software from anywhere and any device. Today’s cloud software brings you this amazing feature which many renders processes hassle-free.
Integration with upstream/downstream software: The payroll software that you choose should be able to talk to upstream and downstream systems seamlessly which will result in complete automation of HR management systems. You might have already invested or will invest in an attendance software (Click Here) or other HR software. They might also feed data into the payroll software. This data needs to be seamlessly transferred without any manual intervention and can be possible only when the software can be easily integrated with the other HR management systems.
Simplify taxes: The most complex aspect of payroll is documenting taxes accurately. All the accounting processes, year-end calculations, withholding, deductions, reporting etc. can be done in an accurate and efficient manner using an automated payroll software. This helps reduce the penalties charged for any mistakes in the accounting processes. All the statutory compliance processes are followed easily. Any tax updates are notified by the software and help you keep track of it.
Create payslips: Commercial payroll software allows you to generate the payslips quickly and easily for all your employees. Ensure this feature is available when you choose a payroll system.
Support: Ensure you receive support continuously from the vendor for any issues/problems. The provider should be responsive and be able to help you when you need it.
Security: Data security is an important feature that needs to be taken care when choosing payroll software. Ensure the software you choose accords the highest security standards and does not compromise on actual user data.
Direct deposit: Today, direct deposit has become an important feature to look for in an automated payroll system and has almost become a norm.
Using an automated payroll system helps in streamlining communication and helps organize between departments. It ultimately reduces time, effort, paperwork, and costs.