Why Should I Get An Automated Payroll System For My Company?
An Automated Payroll System provide the most efficient and effective means of managing the financial accounts of a company. It is a tool that handles salary, Overtime, bonuses, allowances, expenses, deductions withholdings and wages of all the personnel in an organization. It keeps records of weekly, monthly and annual wages and taxes of all workers as well as the itemized payslip requirement established by Ministry of Manpower.
Automated Payroll System
PayrollPrime Payroll cloud with fully automated payroll system can be customized to import from old or existing database and port over to our new secured online cloud system, this makes your filling for taxation and CPF contribution an easy breeze. Best of all with outsourcing service, your payroll on your pay day is a fully automated payroll system. With system and automation, it saves your company lots of money since it overtook the traditional payroll system like manual calculation of CPF employee and employer contribution, issuing payment voucher or even handwritten payslips.
Payroll system can be used by all kinds of companies, from Multi-National Company (MNC) to Small Business Enterprise (SME) or even small business owners.
What should a good automated payroll system possessed?
The mechanism of Automated Payroll System is that you have to enter all the employees’ particulars (NRIC Number, Ethnic, Date of Birth and etc…) and it should be able produce your employee payslip instantly on your pay day by a simple click of a button.
Automated Payroll System will have a system to automatically assist you to compute the employer and employee CPF contribution for Over Time (OT) calculation, Ordinary Wages and/or Additional Wages, additional allowances, reimbursement and dividend.
Automated Payroll system and cloud payroll system, what is the difference?
A cloud system uses no additional infrastructure costs, and allow you to store your company information and employee database into a secured server and the system is available on-the-go with online / internet access.
Some automated payroll system require physical system or mainframe, and it has to be switch on 24/7 to access the system.
Your Company Still Using Outdated Manual Payroll System?! Is Time For New Change!!.
Outdated or manual processes of payroll can take a longer time than expected, in most of the cases human errors prone to make mistakes and which can cause discontent among the employee and employer or fines from statutory board. Automated Payroll System ensures that instance like that never occur.
With the tripartite guideline on issuance of itemized payslip for good employment practice, it is be made compulsory by year 2015, your payslip will have to include the 14 itemized pay slip required by the Ministry of Manpower. With automated system you can effectively store and trace all kinds of employee information for salary. In addition, it handles complicated issues like the concept of part time and overtime payment because it can be easily customized to adhere to the policy and rules of the statutory board.
From environment point of view, as ePayslip it can easily minimize paper wastage. As the payslip are sent thru email with encrypted password to secure the payslip.