In the past being part of the payroll department meant that you were counting all day. Staff hours had to be added up using their time cards and then individual salaries had to be prepared using hourly rates. There was a lot of paperwork, lots of people working in the department and quite frequently, lots of mistakes were made due to human error. Payroll was exactly what it was – paying people their salaries. Modern payroll methods, however, are much different now and payroll software has allowed the payroll department to be able to do more than just issue salaries. There are many benefits and advantages to using payroll software and we will look at some of them here.
1.- Employee Schedules And Calendars
Many payroll software programmes offer employee calendars which allow management to keep an eye on workers’ sick days, the number of days they were absent from work and any over time that they have completed. A manager can just look at the system and know what employees are not there and why, if they are on leave, what is it in relation to and this allows for a better management and staff relationship. It allows the manager to plan work schedules with all the previous information in mind.
2.- It’s Very Cost Effective
Because you have the payroll software, there is no need to have an outside company take care of your payroll needs. There is also no need for all the additional staff once needed in the old payroll system. By taking over the control of your own payroll you are saving yourself lots of time, hassle and, of course, money. Once you get used to the new payroll system, you will wonder how you ever managed without it.
3.- Tax And Other Updates
Tax rules change fairly regularly and it is difficult to keep up with all the changes. You have to be always checking for any changes so you don’t fall foul of the law and break the rules set by the UK government. Accountancy payroll software is also available, which makes the life of an accountant much easier.
4.- Create Employee Payslips
Free payroll software does offer many benefits but if you want a system that can generate payslips, then you need to opt for the commercial payroll software, that will allow you to create payslips easily and with the templates included, you can add any other information that you feel is necessary.
5.- Saves Time
Having your own payroll software programme in place allows you to speed up the payroll system. When it had to be done by hand, it took much longer than it does now and this is time that can be put to good use, somewhere else within the company. Every aspect of payroll is sped up due to all the additional features included in the software.
If you are still contracting your payroll out or using the old methods of payroll, you need to have a serious look at the payroll software that is available now.