Artificial Intelligence

Top Features that Should be Present in Payroll Software

Payroll is an integral HR function for a business of any size. Given the complexities of payroll management and the risks of manual errors, organisations are gradually shifting from conventional payroll processing to automated systems. PeopleCentral is an all-in-one, fully automated payroll administration system that automates calculations, minimises errors and helps save costs through effective payroll management.

So, what makes good payroll software? Here are the top features to consider:

1. Payroll Management and Processing

Of course, the most vital function of a payroll system is to manage and process payroll. This ensures that your employees are compensated appropriately, boosting their motivation and productivity. PeopleCentral features automated calculations and integration of MOM, CPF and IRAS regulations that make payroll processing simpler than ever.

2. Automated Files and Payslip Management

For better and accurate payroll management, it is important to make the switch from manual documentation to an automated and intuitive platform. The software should be able to electronically record files, print payslips and generate reports, including salary statements, salary benefits, leave summary, etc. To put it simply, the payroll system should be a central repository of all employment-related documents and records that can be easily accessible at any time.

3. Bank Integration

For seamless payroll processing and payments, bank integration is an important feature. This would help facilitate salary transfer via bank, reducing hassles and chances of error. PeopleCentral is an intuitive platform that can be integrated with any bank. It automatically creates a Giro file for the bank.

4. Effective Tax Management

Tax computation and filing is a crucial element of payroll management. The software should be able to calculate the taxes accurately and allow the employees to file the same within the deadline. This will help avoid penalties. Look for specifications like pre-tax deductions, automatic updates on tax tables, tax deposit due dates, employee compensation taxes, tracking exemptions and filing status, etc.

5. Employee Self Service

The payroll software should streamline operations in a manner that should facilitate employee self-service. It should be easy to use and allow the employees to perform a wide range of tasks like submitting claim applications, update personal information, file browser-based leave applications, view payslips, and much more.

PeopleCentral payroll solution has all the features that help automate the process, eliminate errors, and ensure higher employee satisfaction.

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