Payroll Software Features That Offer Better Control Over Company Processes
Using software is a normal thing to do in present organizations where everything is controlled by computers. The demand of computerized processes gives way to the rampant use of soft tools in all the departments including human resource management. That is why; the designers have come up with payroll software that has customized template offering ease of adding functions according to the organizations’ processes. Some of the popular features that help in controlling the company affairs are:
- Payroll processing: Employees are the most important asset to any organization. Keeping a track of their contribution in the form of sincere work, extra efforts, etc. become easier when every activity and time spent is recorded in a tool. The payroll processing tool calculates the number of full working days, half days, leaves and unpaid leaves, etc. It gives fair picture of the contribution of employees and of their approach towards the work.
- Expenses management: Every day spent in organization entails expenses of permanent and flexible nature. A section of expense management can be added to HR software to keep track of daily cash and other expenses. The expense management can help in taking suitable cost-cutting measures at low phases of business cycle.
- Loans and bonuses records: Payroll processing software allows keeping the monitor employees working from home and employer in loop regarding the salary and other receivables. The employees and HR can access the records pertaining to loans taken and bonuses earned. These help in salary adjustments and also in picking the people qualifying for promotion.
- Statutory compliance: Indian tax laws become easier to follow and comply with the support center provided in payroll processing software. Information about due income tax, tax rebates, ESI etc. can help in planning savings better.
These are some of the prime features in payroll processing software that helps making the management of employees an easy affair.