Whether you’re a small business or a large MNC, payroll errors can cost you high. Manual payroll computation includes complex calculations comprising deduction of taxes and adding incentives, bonuses, etc. And with concurrent additions and subtractions, human made errors are more prone to take place. A payroll software effectively eliminates the chances of computing mistakes and produces error-free data and reports. Advanced payroll software automatically fetches information from other systems and calculates the net payroll figure, all within a blink of an eye. It not only speeds up calculations but prevents any chances of payroll mistakes.
Managing Overtime-If working extra hours in your organization means extra benefit for your employees, you need to manage employee overtime. And what’s better than a payroll software? Use it to track your employee hours and once your work hour is over, the extra time worked by your employees get added to their overtime account. With this, you can efficiently manage regular work hours along with overtime and auto-fetch both the information for calculating staff payrolls.
Dealing with Rate Changes-Unpredictable changes in costs and rates are a big challenge to calculate accurate payrolls. A payroll software eases this hardship by offering mid-period rate changes and doing the calculations on your behalf. Once done through the calculations, you can get it verified from your employees and carry it forward for future transactions. If working extra hours in your organization means extra benefit for your employees, you need to manage employee overtime. And what’s better than a payroll software? Use it to track your employee hours and once your work hour is over, the extra time worked by your employees get added to their overtime account. With this, you can efficiently manage regular work hours along with overtime and auto-fetch both the information for calculating staff payrolls.
To make it short, SmartPayroll Management Software serves multiple benefits to your organization. On a day-to-day basis, it consistently contributes to various procedures and workflow within your company and boosts productivity at a larger scale. Above all, it’s simple, flexible and offers customised solutions for your business requirements.
This allows to automatically calculate employee wages on a daily, weekly or monthly basis, depending upon your preset schedule. You only need to manually input the rules once, after which the software automatically computes all wage-related factors such as employee attendance, salaries, benefits, leaves, loan advances, taxes along with other terms and policies to calculate a final payable amount.
The income tax rules are complex and are constantly revised with changing economic conditions. There are number of clauses and sub clauses that need to be considered for accurate tax deduction.
SmartPayroll automatically deducts taxes during payroll processing and generates all the necessary reports including -
Form 16 (Part A and Part B) and 12BA
Smartpayroll automatically generates all your necessary statutory reports while you process your payroll. You also have the flexibility to add multiple statutory groups and modify contribution details based on your requirement.
SmartPayroll gives you the flexibility to configure a variety of loan and repayment options and automatically schedule deductions based on tyour preferences.
Manage loans and advances for all your employees in a simple and effective manner.
Comprehensively management payroll information like yearly bonus, reimbursement balance, unpaid salary, leave encashment, gratuity etc. in the HRIS enables you to accurately calculate concluding payables for every employee going through exit formalities.
SmartPayroll has a built-in rule engine to handle all your full and final settlements as easy as possible.
Integration with any biometric device and recording of real-time attendance details to improve the efficiency of payroll processing.
Create and manage multiple shifts and attendance policies. Employees and managers can even make online shift/time stamp change requests and approvals.
Quickly move all your data from spreadsheets to software with our ready to use Formats
With online help desk, live chat, phone & email support, and help manuals, our customer care team would get all your payroll queries solved quickly.