Payroll Management

1. Payroll Management

2. Why Payroll Management ? Cost-Saving and Efficiency Efficient payroll systems save time and money by ensuring that paychecks go out on time without discrepancies. Compliance Crucial for companies to ensure that they are following local laws and provide proof of compliance. Growth Helps to focus on planning . If problem does arise, the systematic record-keeping allows it to be resolved quickly without taking up too many resources. Morale of Employees Employees need to feel assured that they are paid on a consistent and timely basis. Late, and inaccurate payroll might cause employees to question the financial stability.

3. Payroll Management Challenges Accuracy Generally payroll is a batch process where updates happen on a weekly or monthly basis. But historical information is also important. Payroll systems should be able to provide accurate information about both present and past payroll processes. Higher Costs For acquiring a payroll system and implementing it, an organization has to make a significant investment. The business has to ensure that maintenance costs remain low and technology upgradations happen at an optimal fee. Safety and Security Breaches in payroll confidentiality can have adverse effects on business. Taxation-Related Issues Tax rules are dynamic and keep changing. Regular updates are required to ensure that employees’ salaries are taxed correctly.

4. Payroll Management - Features • Option to set up any number of pay structures; name it according to the organization culture. Along with pay structure, leave package and holiday packages need to set up. Tag each employee with leave package and holiday package and it results in calculating salary accurately and quickly based on real time data points. The system captures overall attendance and calculates salary on daily or weekly basis. Cloud based application and no need to buy the software but can subscribe based on number of users/employees. Great saving in investment. Processing salary in a few minutes irrespective of number of employees, and makes the payroll management super easy. Admin can activate the option of Approval for any change in Payroll to prevent erroneous changes in salary structure • • • •

5. Payroll Management - Benefits • Work out payroll calculations and deductions quicker Generate accurate pay slips Calculate bonuses, expenses, holiday pay, etc. with minimum effort Automate certain tasks, such as year-end reporting Store data such as pay slips and annual reports in a secure, easily accessible system Provide additional data and analysis supports to make the payroll information more useful to your business. • • • • •

6. Register for Now! www.smartadminmanager.com Click here and Register free Enjoy 30 Days FREE Trial with Invoice Management Client Management Timesheet Payroll Management Project Management If any issue in installation, please send an email to info@smartadminmanager.com or call us 953 – 807 - 6063