Payroll Management

1

• Payroll Management

2
Why Payroll Management ?

• Cost-Saving and Efficiency
• Efficient payroll systems save time and money by
  ensuring that paychecks go out on time without
  discrepancies.
• Compliance
• Crucial for companies to ensure that they are
  following local laws and provide proof of
  compliance. 
• Growth
• Helps to focus on planning . If problem does
  arise, the systematic record-keeping allows it to
  be resolved quickly without taking up too many
  resources.
• Morale of Employees
• Employees need to feel assured that they are paid
  on a consistent and timely basis. Late, and
  inaccurate payroll might cause employees to
  question the financial stability.

3
Payroll Management Challenges

• Accuracy
• Generally payroll is a batch process where
  updates happen on a weekly or monthly basis. But
  historical information is also important.
  Payroll systems should be able to provide
  accurate information about both present and past
  payroll processes.
• Higher Costs
• For acquiring a payroll system and implementing
  it, an organization has to make a significant
  investment. The business has to ensure that
  maintenance costs remain low and technology
  upgradations happen at an optimal fee.
• Safety and Security
• Breaches in payroll confidentiality can have
  adverse effects on business.
• Taxation-Related Issues
• Tax rules are dynamic and keep changing. Regular
  updates are required to ensure that employees
  salaries are taxed correctly.

4
Payroll Management - Features

• Option to set up any number of pay structures
  name it according to the organization culture.
  Along with pay structure, leave package and
  holiday packages need to set up.
• Tag each employee with leave package and holiday
  package and it results in calculating salary
  accurately and quickly based on real time data
  points. The system captures overall attendance
  and calculates salary on daily or weekly basis.
• Cloud based application and no need to buy the
  software but can subscribe based on number of
  users/employees.  Great saving in investment.
• Processing salary in a few minutes irrespective
  of number of employees, and makes the payroll
  management super easy.
• Admin can activate the option of Approval for any
  change in Payroll to prevent erroneous changes in
  salary structure

5
Payroll Management - Benefits

• Work out payroll calculations and deductions
  quicker
• Generate accurate pay slips
• Calculate bonuses, expenses, holiday pay, etc.
  with minimum effort
• Automate certain tasks, such as year-end
  reporting
• Store data such as pay slips and annual reports
  in a secure, easily accessible system
• Provide additional data and analysis supports to
  make the payroll information more useful to your
  business.

6
Register for Now!

• www.smartadminmanager.com 
• Click here and Register free
• Enjoy 30 Days FREE Trial with
• Invoice Management
• Client Management
• Timesheet
• Payroll Management
• Project Management
• If any issue in installation, please send an
  email to info_at_smartadminmanager.com or call us
  953 807 - 6063

7
(No Transcript)