What is a Payroll System?
A payroll system is a software which manages everything about filing employment taxes and employees salary. The system can be a desktop software where you install on your computer or cloud payroll software which you can access at any time anywhere as long as there’s an internet connection. Payroll system generally is used to keep track of all payroll tasks such as worked hours, calculating wages, withholding taxes and so forth. Payroll software automates all of these processes for example by providing an online portal for employees to view their payment information and other breakdowns.
Is the payroll system easy to learn and use?
Just like any other software setup, learning how to use depends on your company’s service provider. By working with a service provider which fits or customized to your needs, it is fairly easy to use. There are also service providers which provide training, tutorials and support. (Find out more on Netiquette Software training and support)
The benefit of payroll system
Payroll system costs convenient for your business as the system could do what a team of HR professionals does. By comparing the cost of hiring professional staff and subscribing to a payroll system, it is much cheaper to invest in a payroll tool.
In addition, a payroll system can reduce the amount of time used to run payroll. Everything can be calculated in real-time without the involvement of human labour. You simply have to ensure that the numbers that you enter are accurate before submitting into your payroll system.
Using payroll software can help eliminate human error in payroll-related calculations. The process is very transparent as it does not involve having to key in wrong calculation or forgetting a step. On the other hand, the company can avoid errors such as inaccurate payment and increase employees’ trust in your company.
Payroll software is secure. Unlike the manual way of paper-based payroll management which can easily be accessed, payroll software requires authentication when accessing the system. Thus, only authorized personnel are allowed to access the system.
How to determine which payroll system is best for your company?
Part of choosing which payroll system best suited with your company, there are several things to take into consideration by determining:
- What features do you need?
- How much is the cost?
- Does your company need to require your payroll system to be unified with time and attendance or core HR?
- Does your company require any special features?
- Do the service provider offer support (via email, phone, chat)?
- Does the payroll system provide employees with self-service access?
When selecting a new payroll system for the company, there are several factors that need to be taken into consideration before conversion. It is better if the service provider could provide you with a free trial to try out their system before investing and converting into a whole new system. Once you have a better idea, you may lookout for the major service providers to determine what is best for your business. Click here to check out the 5 Best Payroll Software.
Netiquette Software provides you with a cloud-based payroll system with a flexible and customisable reporting system for all types of businesses and industries which supports all major banks, transactions and payment models. In addition, Netiquette Payroll System can also integrate seamlessly with Netiquette Accounting Software to pipeline financial data of your business. Are you ready for our payroll system? Start your free trial today!
