The end of the pay-cycle is a stressful time for many small business owners. In the absence of the latest payroll software, you will need to process your payroll manually. It is a tough task.
Whatever the case, you have to be prompt with it, or you breach the regulations. You also have to be accurate with the salary calculations, or you end up with unhappy employees.
The solution is simple. It would help if you implemented online payroll software that comes with well-built modules. It will raise your morale significantly. The adoption will automate and streamline the payroll process for you.
Payroll is a Non-Core Task
The automation of the in-house payroll processes using the online payroll software Singapore leads to the optimum use of time and skilled human resources. It also drives up the efficiency and productivity of the concern. For a small business based in Singapore entirely focused on being a competitive entity, these are must to have benefits.
Every small business has to balance the execution of its non-core and core tasks. The payroll is an essential but non-core function of the firm. It does not bring it any revenue or profits. However, it is a statutory responsibility, and it helps in discharging its liability.
As per the rules, businesses in Singapore must provide their employees with itemized payslips. You can automate the task by harnessing the power of online payroll software. Using this software, preparing compliant itemized payslips is easy. With it, you can cut down your manual efforts and save time.
The software also enables you to print the paychecks for your employees. You can then send SMSs and email alerts to inform them about the deposition of compensation into their bank accounts.
Communicate With Your Employees
With online payroll software Singapore prepare various reports. It also allows management and employee communication by providing a module for Email management. It helps the employees in putting their claims and problems in front of the management. The software also enables them to log in using their User Names and Passwords and access resources on the system.
Adopt a Module-Rich Payroll Software
Ready for the switch from manual payroll to automated one? Search for online payroll software Singapore that offers a number of well-built modules.
These modules can help you in handling a variety of tasks that are exclusively related to payroll processing. You are better able to automate and streamline tasks and enhance the joy of a well-executed payday. Take a look at the list of modules that you should expect in the best online payroll software in Singapore.
- Employee Management
- Master Setup Management
- Company Management
- Payroll Management
- Leaves Management
- Attendance & Time-sheet Management
- Claims Management
- Progression Planning
- Reports and Inquiry Management
- Email and SMS Management
- Reports and Dash Boards
- Schedule Management
Factor-in Statutory Contributions & Donations
The salary calculation can be a difficult task. The manual payroll processing needs mental focus and takes a huge amount of time. A human error can turn it into a blunder for a small business. That is why implementing online payroll software makes sense.
You need to take into account a number of factors during payroll processing. Online payroll software easily accommodates factors like statutory contributions and donations like CPF & levies. It also means considering incentive earned, public holidays, leaves, insurance, medical benefits, loans, employee benefits, hourly rate, and taxes during the processing.
Implementing online payroll software brings sophistication to your in-house payroll processing. The software is hosted on remote servers and updated whenever the rules and regulations related to payroll change.
You do not have to dedicate your time to follow these changes. Adopting the latest payroll software leads to satisfactory compliance advised by the regulating agencies.