2023-01-10
The importance of payroll management applications
Payroll management applications can do more than just payroll calculations. In this article we will elaborate on the functionalities that we offer you, so that your choice of an automated payroll program is an informed and correct one.
What can payroll software do?
Any payroll management application will take over the routine calculation of common payroll requirements such as tax and national insurance contributions. It will also calculate the contributions you have to pay as an employer. It will allow you to streamline your employee payroll process at monthly or weekly intervals, as required.
Payroll management software will also:
- produce payroll slips for your employees
- produce payroll slips to enable you to pay employees, indicating the amount to be paid to each employee.
- keep track of payments and deductions
- produce year-end reports and documentation for the company and employees.
- produces figures or documentation when an employee leaves.
Most payroll programs provide certain basic functions to help you get your employees paid correctly and on time. For example, payroll processing, tax management, tax form preparation, direct deposit, etc.
Depending on the software, additional payroll management functions can be included as part of the customizable or enhanced payroll package to manage various aspects of payroll effortlessly and reliably.
Different pay periods
Weekly and monthly pay intervals are standard in most payroll management programs. If your business has other requirements, make sure you choose a software that can accommodate different intervals (e.g. bi-weekly, quarterly or annually). Some payroll software programs can support multiple payroll schedules, allowing you to customize your payroll program to your employees’ needs.
Multiple users in the same payroll system
Some organizations may only need support for one payroll operator at a time, but you should check whether multi-user operation is available in case you need it in the future. If you plan to grow your business, choose a payroll management system that is easy to scale.
Reporting capabilities directly from the payroll platform
Some year-end reports are included as standard in most payroll management platforms. You should choose a payroll software that has flexible reporting and supports online filing and form completion. More than that, htss solutions allow you to generate expense and benefit reports. Other functionality can allow you to create reports for payroll history, paid leave, deduction analysis and more. There are also template reports to fill out directly in the payroll software, or you can choose to create custom reports depending on your business requirements.
Management and salary slips
With the solutions developed by htss it is possible for the payroll management application to create and print payrolls or automatically email payrolls to employees on a certain date. You may want features that allow you to customize digital payrolls, send payrolls in different formats or allow employees to view their payrolls online.
Human resources management directly in the payroll management application
A complete payroll software can also include functionality to help you calculate and record leave entitlements, track sick leave or offer self-service payroll services to allow employees to request or book annual leave online. Some custom HR software is able to keep records such as job history, employment history, education and academic qualifications, references, skills and competencies required.
The decision to choose payroll software is an important one and it’s worth taking the time to do some research to find the best solution. If you’re not ready to make a long-term commitment, you can try a free payroll management app demo developed by htss, here!
