Payroll Automation and its benefits

Introduction

From the very beginning of getting the candidates interviewed, recruiting as employees, fixing the scale of salary, appointment, salary processing, and appraisal, etc., HR must go through a pile of papers for doing all the things manually.

The majority of supervision, though, has to be given to salary processing considering salary calculation depends on multiple factors like employee’s present days, leaves, standing instructions (if any), etc.

Moreover, today’s payroll processing has become messy and chaotic, due to various statutory and MIS requirements coupled with changing HR policies, slabs, and formulas from time to time.

To ease the work of HR personnel from that pile of papers related to salary processing, statutory returns filing, etc., the use of an automated payroll system is required.

An automated payroll system not only helps HR to comply with the statutory obligations but also helps ease the process and quickens the time taken for the same.

What is Automated Payroll?

Payroll automation refers to the use of computers to produce paycheques and manage benefit payments for a company or an organization.

Automation of payroll can be done by using Excel sheets or using desktop software or a cloud application.

Some major setbacks countered by Payroll officers/HR Personnel are:

• If the company is operating in more than one place and in different states
• Different salary and attendance groups for a different set of employees
• TDS Estimation, calculation, e-Return
• Salary processing after considering all the standing instructions, deductions and arrears, additional earnings/deductions and incentives, etc.
• Calculation of Special incentive when the cost to company concept is followed
• Attendance management
• Generating reports
• The manual calculation is prone to human-errors

What to look for in payroll automations?

According to the company’s needs and demands, you need to check the better payroll automation that will help you to grow your business.

There are certain features to look for in payroll automation –

• Capabilities to track Pay-Time-Off
• Direct deposit for same days 
• Time-tracking
• Tax filing for all 
• Self-employed and data management 
• Support for 24/7
• Software needs to be well integrated 
• Additional pay adjustments, such as bonus, incentive and others.

How to implement payroll automations?

Before going to implement a payroll automation system, you need to ask yourself some questions, such as – why do you want to? What kind of automation will work for your organisation? Does this automation save your time and money? Is this automation well integrated or not? And such other questions and do some research on the best payroll automation. But it should suit the company’s needs.

So, below you will see the steps of payroll automation –

1. Enter your all, valid data into the system – while you enter your all data ensure that you provide all valid and accurate information. Because, it will work based on that only. 
2. Before processing your payroll, ensure that all essential data are accurates. 
3. Train your employees – After that, you need to provide training to your employees on how it works and what things you need to provide to complete payroll procedures.
4. Now, you can set your automation according to all functions.

This is the end of our discussion on payroll automation. Let’s know your other questions and opinions on this topic. Mention below the comment box.

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