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How to Select the Best Payroll Software for Your Small Business

Payroll software is primarily intended to automate and simplify complex payroll processes, as well as to reduce potential calculation errors and ensure regulatory compliance. With so many payroll solutions to choose from, it can be difficult to find the best one that meets both the immediate and long-term needs of businesses of all sizes and types.<br><br>Only a few HRMS solutions provide full-spectrum functionality as well as broad scalability. QuickHR is one of them. It is a fully integrated cloud-based Human Resource Management System (HRMS) with a comprehensive payroll module.

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How to Select the Best Payroll Software for Your Small Business

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  1. HowToChoosetheRightPayrollSoftwarefora SmallBusiness? Payrollsoftwareismainlydesignedtoautomateandsimplifycomplex payroll processes, minimize potential calculation errors, and even ensure regulatory compliance. With countless payroll solutions to choose from, it's noteasytofindthebest one suitable for both the early and long-term needsof businesses of all typesand sizes. Only a few HRMS solutions offer full-spectrum features with wide scalability as well. One of them is QuickHR, a fully integrated cloud-based Human Resource Management System(HRMS) that provides a comprehensive payrollmodulewhereHRprofessionalscanexperienceautomatedand streamlinedpayroll processes. Letmetellyoumoreaboutthefunctionsofpayrollsoftwareandwhy QuickHRhasoneofthebestpayrollsoftwareforsmallandlarge businesses. • GatherEmployeeRecords • Payrollsoftwareisbuiltwithconstantinteractionacrossallnecessary

  2. payrollaccountentriessuchasattendancedata,incomestructure, timesheets,leave, claims, and more. Withasolidintegrationframework,there'snoneedtopurchaseseparate HR software solutions and switch from one system to another. Thereby, reducing heavy workload and allowing more time for HR professionals to focuson high-level HRtasks like recruiting,hiring,and training. QuickHR’s payrollmodulehelpseasehecticpayrollperiodswithan interconnectedHRMSplatform where every HR department can access and process real-time records such as salary prorations, leave applications, timesheetincentives, and claims, allin one place. With automated payroll software, businesses can ensure that all employee recordsarecompleteand up to date, preventing accounting errors and recorddeductions. • SetUpPayrollSchedule • It’s necessary for business ownersto figure out which payroll forms are necessaryforthecompanyanditsemployees.With aflexiblepayroll system, it'll be easier to streamline payroll generation according to varied factorssuchas employmenttype, contractlength, payperiod,and more.

  3. QuickHR’s versatile payroll software is capable of generating multiple pay runsforfull-time,part-time,andfreelanceemployeeswithdifferent pay periods. The all-inclusive platform also offers automated payroll generation formonthly, bi-monthly,daily,orad-hocpayrollruns.Withflexibleand customizable settings, QuickHR will be fully compatible and suitable for a business'growing needs. Byensuringthateveryemployeeisreceivingaccurate and fair income distributionontime,businesseswillbeabletoboostemployee engagementeffectively. • CalculateMultiplePayrollRuns • Manual-basedpayrollsystemshold a highrisk of calculation errors. To avoidcostlyerrorsandincreaseemployeemorale,payrollsoftware automaticallyhelpskeeptrackofworkhoursandfacilitatestimely paycheckswith great precision. • QuickHR'sall-encompassingpayrollmoduleprovidesoptimizedpayroll processes with automated and accurate calculation of wages according to variedshiftplans,flexibleovertimecomputation,andincentivesfor punctuality. • IntegratedwithQuickBooksOnline,SoftwareSuggest,andXero,QuickHR

  4. alsoensuresthatmonthlypayrollnumbersstreamrightontoaccounting charts,enhancing workflow efficiency. • ReviewRegulatoryCompliance • Withpayrollsoftware’s auto-inclusionandfullregulatorycompliance features, businesses will be able to prevent fines and penalties which may leadto great financial loss. • QuickHR’s payroll module allows automatic calculations and deductions in adherencetothegovernmentcompliances.Theseinclude tailored CPF formulations,autoSDLdeductions,BankGIROandCPFsubmission features,and MOM itemized payslips. • QuickHR is an IRAS-approved software solution that guarantees smooth monthly submission by handling IRAS season with direct AIS linkage of payrollinformation captured on thesystem. • Moreover,theInfocommMediaDevelopmentAuthority(IMDA)has evaluated QuickHR as an effective, market-tested, and cost-effective pre- approvedsolution for governmentgrants offered to SMEs. • ApproveandSubmitPayroll

  5. With the automated processes of payroll software, all that's left to do is to approvethem, saving time for higher productivity. UnlikemanyotherHRMS,QuickHRcomeswithanaccessiblenature, making it an ideal platform for individuals who are relatively inexperienced with complex and deadline-driven payroll processes. HR professionals can easily allow the system to tabulate multiple payroll calculations, and let the managerconfirm them. Inadditiontothis,QuickHR'spayrollsystemcomeswithmobile accessibilitywhereHRteamsandemployeescanaccessandupload informationaswellasmonitorreal-timeupdateswhileonthemove.This will make it easier to manage and approve payroll in real-time, preventing delayedsalary distributions andheavy workload. • SavePayrollRecords • Payroll software solutions offer maximized storage where every record of salary credit is stored securely on its servers. By having a comprehensive payrollhistory,it'llbeeasierforHRprofessionalstoensuremaximum clarityand accountability despitethe diversity inpayroll runs.

  6. QuickHR's payroll module has its data hosted on Amazon Web Services (AWS),thelargestcloudproviderintheworld.Thesoftwareisalsobuilt with heightened data security, featuring a cloud infrastructure with multi-tier encryption. This means that all data are encrypted, as are the automated backups,snapshots, and replicas. QuickHR's secure and maximized data storage enables smarter and faster decision making, thereby driving positive results and progressive business growth. • GenerateReportsandAnalytics • With an extensive analysis of the overall salary structure and staff costs across departments and even individual jobs and contracts, organizations willbeabletohavein-depthandreal-timeinsights,providingmore opportunitiesto adaptto theever-changing workplaceconditions. • QuickHR’s payroll software has the ability to analyze employee data and create customized analytics on HR matters such as attendance, payroll, leave,and claims,providing a wealthof meaningful reports. • Ifyouwant to know more about it, feel free to request a free demo at QuickHRSingaporeHRSoftwarewithabsolutely noterms andconditions!

  7. Newblogupdate:SingaporePublicHolidays2022

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