Payroll Management System For Smoother Processing Of Salaries
Payroll management is a critical area for every business, no matter what size, how big or small, whether it is a fledgling business with just a couple of employees or a full-fledged corporation with thousands of employees. Any mistake or misstep in the payroll management can result in great complications later with auditing and tax authorities. Mistakes can happen easily when it is managed by human effort. These errors can also result in great losses to the business in terms of revenue. This is why it is important for every business to have a fully automated payroll management system that helps in easier and smoother processing of the entire salary payment cycle.
The payroll management system designed by Divinity IT Solutions provides comprehensive coverage of every employee’s salary, allowances, net pay, gross pay, deductions, etc. It also generates pay slips for any specified time periods. There are a wide variety of reports that can be easily generated using our payroll management system.
With Payroll management system, employee information can be created, managed, organized, and seen at a glance. The leaves, vacations, deductions, etc., can be easily defined without any complications. It is easy to generate and print out pay slips at any time. Different salary structures for different employees can be generated and defined easily. Reports related to leave, holidays, vacations, etc., can also be generated and created with Payroll management system. All the systems are guaranteed to be secure.
With Payroll management system, there will not be any errors with regards to the salaries, deductions, allowances, etc., which can create employee dissatisfaction if there are problems relating to getting lesser salary than what they deserved or wrong calculations with regards to deductions or disbursals. This can be avoided by bypassing the manual generations and calculations done traditionally and using fully automated payroll systems where the margin of error is nil to negligible.
The payroll system can be integrated with other systems, such as the canteen management system to access, calculate, and organize the deductions from canteen allowances. It can also be integrated with the time and attendance management systems so that data about leaves and holidays can be easily included into the payroll system for easier calculations and deductions to be done on time. This makes the salary calculations much easier to do for the human resources personnel. It makes the calculations error free as well.
This is an intuitive-to-use platform that is very user friendly. The data is secure and can be stored on the cloud as well. The latest tax regulations can be entered or updated without any hassle. Everything from insurance to reimbursements and allowances are included in the calculations with data being linked and synced effortlessly. The speedier work management that is facilitated by the payroll management helps to save paper, time, money, and human resources. It is environmentally friendly and cost effective. It helps human resources personnel free up their time to focus on other matters of pressing importance.