Payroll is an integral part of an organisation, as it is what ensures that employees receive their due salaries and other compensations on time. Despite being such an important aspect of an organisations processes, it is often overlooked as a simple function, which couldn’t be further from the truth. It is essential to the reputation of the company and the morale of its employees. A payroll system eases the process of preparing the payroll and maintaining correct records regarding each employee. It ensures an accurate and quick calculation of salaries, which is vital to the hitch-free functioning of a company.

Especially when it comes to calculating relevant taxes, EFP, ETF and other miscellaneous taxes, it is more than important that it is all done accurately. A payroll system helps eliminate errors and offers complete solutions for your payroll requirements. Some of these features include:

• Allowances and deductions
• Tax Exemptions
• Loan Management
• Annual Bonuses
• EPF, ETF and Bank Text File Generation

Allowances and deductions are a natural part of payroll calculations. This can be done either as a fixed calculation or as something that varies monthly. It can be done based on the individual employee which streamlines the whole process. Tax exemptions are another important factor, which through the system can be set up per employee for a pre-defined period for a pre-defined amount. When dealing with loan repayments, the system allows automatic instalment payments to be deducted from an employee’s salary, done as either interest or interest free options.

A very useful feature of payroll systems is the generation of monthly EPF, ETF and Bank Text Files that can be created with a single click of a button, simplicity itself.

It is very important when choosing a payroll system for your company or organisation that you select one with a simple interface. This will ensure that multiple users can use it, whatever their skill levels maybe. Most importantly it should be easy to use, fast and accurate. If you are a small or medium scale operation, then the system will help you take to the next step. Zero errors lead to a happier workforce and a good reputation for the company. Correct and timely salary payments convey the message to employees that they are valued.

Another asset is that a payroll system reduces the cost of hiring many employees to manually handle the payroll calculations and management. The benefits of having a payroll system are immense and if your organisation doesn’t have one as yet, it is definitely time to invest in one and experience the professional difference.