Top 5 Payroll Software Uses That Ensure Efficient Employee Management
Payroll software, as the name indicates, is an automated tool useful for keeping the record of working and remuneration paid to the employees. This software not only calculates the salary on monthly basis, but also provides annual records when needed. So, managing employees becomes easier and their record maintenance goes almost paper-free by transferring employee-centric controls to the concerned people. Listed here are the top 5 uses pertaining to employee management that the best payroll software is popular for.
- Attendance recording: Payroll managing tool has provision for recording the attendance of the employees on a daily basis. The bio-metric systems’ or computer logins’ results are recorded in the payroll managing tool making it easier for the accounts department to calculate monthly remunerations error-free. Those companies using attendance register manually input the details into the system and produce monthly reports and information of due salary when asked for.
- Salary calculation: Depending upon the total number of work days and paid leaves, the salary of employee is calculated. All these records are automatically fed into the payroll calculating software when it is integrated with biometric system. Since all payment related formulae are available in the software, the calculation becomes as easier as pressing few keys on the keyboard. Thus, faster and accurate disbursement of salary is made possible with such automated tool.
- Maintenance of employee records: Manually managed files are exposed to threats like stealing or misplacement of data. Storing them also poses a serious issue. With payroll system in place, the process of recording employee details becomes unalterable and steal-proof. Moreover, all the records are stored in one place, making it easier to communicate with the employees at the time of need or urgency.
- Generation of salary slips: Going paperless is one of the many advantages that are enjoyed by the companies using payroll management tool. Salary slip template and necessary heads are provided in the software and the slips are generated automatically and sent to the employees’ email IDs on the scheduled dates.
Thus, HR department is able to take over the employee concerning activities from the accounting department and is able to support the latter by sharing the burden of employee management by use of payroll calculating software.