Monthly Archives: November 2014

How Much Time You Spend on Payroll?

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Blog How Much Time You Spend on Payroll

Payroll is a vital aspect of all business organizations, irrespective of their size and type of business. It needs to be tackled carefully so that all the aspects of the employees’ compensation such as payroll processing, time and attendance, leave management, loans and advances, taxation, and other statutory compliance are dealt with in a timely and satisfactory manner.

It is observed that most small and medium sized businesses (SMBs) end up spending more time on administrative tasks such as payroll, wages, taxes and deductions than striving to grow their business leading to profitability. Though it may not sound too time-taking, payroll is a time-consuming activity, where resolving small problems and errors may take up a lot of time that often goes unaccounted for.

With the advancement in information technology, a number of payroll software solutions on cloud have come up as a substitute to manual payroll processes. Though these Online Payroll Software solutions make it easy to process payroll and ensure a quicker and error-free execution repeated every month, they may come at a cost to the employer. This human resource effort makes it necessary for business owners to calculate exactly how much time can they afford to spend on payroll if they do not want to invest in payroll software.

How much time should you spend on payroll?

The National Small Business Association (NSBA) 2013 Small Business Taxation Survey asked 1,500 small business owners how do they handle payroll. It was found that 60 percent handled it with an internal Payroll System. The same survey also found that 24 percent of small businesses spend over 120 hours a year dealing with employee statutory tax issues alone, not to forget the time spent on other issues such as correcting and paying for payroll mistakes.

It is important to note that in addition to the time it takes to issue salary checks to all the employees, the employer also spends time on other aspects such as retirement fund management, employee benefits, tax reporting and filing, worker’s compensation issues, and other statutory compliance, when calculating the overall cost of payroll.

Another important aspect of manual payroll process is chance of human errors in leave or salary calculation. Sometimes, it could be just a misunderstanding on the employee’s part that needs someone to explain them the calculation rules. All such issues can be dealt with having an online Employee Self Service (ESS) system in place.

Employers must understand that business generation is in fact more important than just fulfilling their payroll obligations because it adds to the overall cost of payroll processing. The huge numbers may come as a surprise to employers because most of them may have been overlooking the cost of lost business generation when determining the cost of payroll.

Therefore, accurate determination of the actual cost of payroll is important so that business owners can decide if it is really justified to spend the amount of time and efforts in fulfilling their payroll obligations. Though there is no rule of thumb to decide when exactly is the right time to go for a payroll software, considering certain situations may possibly help reach a conclusion.

· If you are beginning to hire more employees, it is an indicator that it is probably time to consider having a salary software.

· If you are finding that errors creeping in payroll are costing you expensive tax penalties for mistakes in calculating and filing tax returns, it is time to consider investing in payroll solution.

· If you are spending more time in payroll management than you deem fit, getting the payroll software may provide a quick solution.

· If you feel keeping up with payroll taxes is becoming more risky, complex and time-consuming, it is time to switch to the risk-free software solutions.

· If you are unable to spend time managing other important issues in your business, such as new clients or new business opportunities, make payroll management easy with just a few clicks needed to manage payroll.

If the answers to these questions are positive, it is time to switch to a online payroll software which will also include:

Upgrading to a online payroll software provides wide-ranging benefits that translate to savings to the company not just in terms of money, time, and effort, but also taxation penalties, employee leave management, and loan management. As a value addition, it leaves the business owners with more time to focus on their ultimate objective of growing their business.

Salary Software India

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Blog salary software

The processing of salaries is one of the most crucial processes in the operations across all the organizations, small or medium scale enterprises, attaching due importance to HR productivity and efficacy. This attention is given not just because there is a high risk of error, but because errors in the salary processing may translate to decreased employee satisfaction and in turn high attrition rates.

Considering such wide-ranging impacts at the workplace, it is better to switch to online salary software, which can take care of the manual calculation errors, enable faster salary processing, ensure high employee morale, save unnecessary processing time, and provide a boost to employee productivity.

We, at Brio, offer Perk online Payroll Software — Salary software for businesses that need to integrate the various aspects of payroll processing such as:

Feature of Salary software – Perk online Payroll software

  • Our salary software can help classify the salary into salary heads such as earnings, deductions and so on. This can bring in more clarity and transparency in the salary processing. All this is possible with a single click of the mouse saving a lot of productive time of the employees.
  • You can create multiple salary structures with our payroll software. This provides a lot of flexibility in handling the varied requirements of the different types of employers from the salary software.
  • With our flexible payroll formula builder, you can compute your employees’ salaries within minutes, instead of days.
  • A provision to account for the rounding-off rules for the different salary items acts to eliminate all sorts of confusions.
  • Our salary software also takes into consideration the ad-hoc earnings or deductions for a particular month before the calculation of the final salary without the need to manually enter every detail.
  • Perk online software also provides for advance earning and deductions to manage future payments and deductions of your employees and integrates the calculations with the salary processing.
  • With so many advanced features in salary software India, processing the payroll is possible with just a few clicks.
  • It is possible to generate payroll based on time cards and leave cards.
  • Perk payroll helps generate salary disbursement statements and bank advices to credit employee’s salary.
  • The software makes accurate Provident fund, ESI, PT, TDS and other deductions as our payroll software handles all statutory deductions automatically.
  • Employees can access their pay slips once generated, thus saving printing cost and efforts to email pay slips. This gives a greater sense of psychological credibility to the employees about their organization.
  • You can also add new data or perform bulk updates using Microsoft Excel so that the data is imported directly into the online salary software at the click of a mouse. This minimizes any sort of manual data entry, automatically minimizing the risk of errors and speeding up the process.
  • You can include a variety of parameters for MIS reporting to make the online payroll software suit the specific needs of your company.
  • Brio’s Perk online payroll software gives you the option of customizable pay slips in terms of both content and appearance. You can email these payslips to your employees who can download and print them if they want.

Payroll Software India

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Payroll Software

Payroll processing is one of the most mundane tasks of the HR department which can take up most of the productive time meant to be applied to core issues of the human resource department. Under such circumstances, switching to online payroll software not only makes business sense, it may translate to an increased employee satisfaction, lesser risk of error, and greater flexibility.

We, at Brio, offer the Perk Online payroll software , which is easy to use, reliable, and effective. Our payroll software gives the employer the flexibility to process employee payrolls anytime from anywhere. Our online payroll solution is easy to understand, does not require regular maintenance, and accounts for your statutory compliances as well.

The Perk online Payroll software not just takes care of the error-free salary calculations but also offers other features for:

Personal Management: Our online payroll software makes it possible to consolidate all your employee information at one place. The employee records of all your past and current employees are available at your fingertip, so that it can be retrieved at the click of a mouse.

Attendance Management: Perk online payroll software is compatible with all the tools for timekeeping and attendance so that it becomes easy to calculate the attendance at the time of payroll processing. This also removes the need for the personnel department to manage employee time and attendance.

Leave Management: Brio’s payroll software makes it easy to implement your leave policies and manage employee leave management online. All the leave applications, leave approvals and leave accumulations can be easily managed online through email notifications. The system accepts only those leave requests that are compliant with the leave policy set by your organization.

Loan Management: Our payroll software integrates the feature of loan management with payroll processing so that it becomes easy to keep a track of your employee loans, advances and their timely deductions. This simple, easy to implement loan management makes arrangements for automatic scheduling of deductions based on EMI and recovery date.

Payroll: Payroll processing is important as it affects the bottom-line of your business. In general, employees are very sensitive when it comes to errors in payroll and timely and accurate payroll payments. So, error-free and timely payroll processing boosts the employee morale, which is possible with the reliable Perk Online payroll software .

Employee Self Service: The employee self-service, a part of the Perk payroll software enables the employees to view information and update details, view payslips and statutory deductions, participate in opinion polls, submit savings and investment details for taxation, and view latest news and announcements.

Statutory Compliances: Perk online payroll software helps an organization to comply with the rules and regulations related with PF, PT, ESI, TDS and other laws governing the businesses. The software automatically takes care of your deductions, withholding and contributions under laws that are applicable for your organization, which are also updated from time to time.

Announcements: Our salary software also makes it very easy to handle the complicated task of conveying announcements around to all the employees of the organization. Sending announcements can now be facilitated without the need of paper notices or emails. It makes possible quick and easy sharing of company announcements and news.

Calendars: For organizations that carry out operations in multiple locations across different countries, it becomes difficult to manage their calendars because of varying holiday lists across locations. Perk payroll software allows such organizations to maintain multiple calendars for the different employees so that holiday lists can also be shared.

User Management: Perk payroll software provides comprehensive features to manage user base so that only the right people have access to the right information. The challenging task of data security becomes easy with the consolidation of this feature with the payroll processing. Making task delegation easy.

With the set of features listed above, Perk Online Payroll software qualifies to meet all the payroll-related needs of small, medium, and large enterprises. It takes your focus off the mundane activities and lets your organization make the best use of its valuable talent pool.