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Functions of Payroll Management Software

Payroll Processing System

Payroll refers to the remuneration made by an employer to the employee for the services they have provided. Handling payroll carefully is critical because it considerably affects the net benefits of every organization/institute.

So, payroll management software is an ultimate tool for a department where hundred percent of accuracy is required. Payroll management software promises to generate better revenues by saving your time spent on payroll information, preparing registers and reports etc.

Personal Information of Employee

In this Payroll software, a unique id is provided to each employee. Login facility for employees is provided in the software by using a unique username and password. All the transactions are recorded against the Id of a specific employee. Accessibility is allocated grade wise and designation wise. Working type of each employee is maintained into the system. Working types can be Permanent, part-time, casual, shift workers, daily hire, weekly hire, probation, outworkers, fixed term/contract, traineeships or temporary etc.

Personal information like first name, middle name, last name, caste, religion, date of birth, gender, marital status, father / mother / husband name, children detail, other family details, permanent and correspondence address, contact details, email address, blood group, disability if any, identity mark etc. is kept into the system for further use. System also provides the facility to scan and store the necessary documents such as address proof, photo identity card, certificates, tax saving proofs, affidavits etc. Payroll software provides the facility to employees to login into the system and edit/update required data.

Official Information of Employee

Official information for every employee is maintained into the system. Official information consists of Department of employee, job profile, designation (initial and current), grade, cadre, photograph of employee, complete qualification details, total experience including previous experience if any, date of appointment, order number etc. Admin is facilitated to update or modify these details at any time in college administration system .

Quick Salary Processing

Payroll Management Software enables accounting professionals to maximize their performance by helping them in calculating salaries, timely and accurate salary processing, well organized handling of reimbursement, deductions such as PF, IT, PT, loans, advance payments etc. System does this work and eliminates the chances of miscalculations which reduce the scope of penance. Payroll management software typically involves sending salary slips to employees. Salary slips are also made available into the system which can be viewed at any time by employees using their unique credentials. Detailed Salary information with all configurable components is made available into the system for employees’ assistance. Salary slips can be downloaded.

Payroll Management Software is furnished with the facility of generating reports like FORM 16 for Income Tax deductions, generating the statement for PF deducted from employee’s salary and additions made by the organization as well, generating monthly salary statements as per predefined format.

Library account is also integrated with this system. If any employee is leaving the organization, he or she can only be relieved if all the dues are cleared against that id into the system.

Hence, the Payroll management system plays a major role in the growth of every organization.

Salary processing is done rapidly to make employees happy as they get their salaries on time.

All government rules become easy to follow with the help of payroll management module.

Payroll management on the computer software saves time, efforts and money for its associated work.