Payroll processing is one of the least desirable tasks in a business organization. The work is repetitive and time-consuming, and any mistake can have employees condemning the processor to eternal damnation.
By running payroll manually or implementing subpar software, you risk losing sensitive data, miscalculating deductions and contributions, losing track of employee leaves and absences, and more. Payroll processing demands a high level of accuracy to ensure employees are paid right and financial documents are compliant with state and federal laws. If you keep having the same problems every month, it’s time you streamline your payroll by implementing a payroll management system.
Store and access employee data securely
Protecting your payroll records is easy if the software you use has the right features, such as encryption-based viewing privileges, which ensure your entire employee database is safe from breaches due to human error, computer breakdowns, or natural disasters.
You can grant access codes and administrative rights to specific personnel like your HR or accounting staff. Encryption is especially helpful if you have a cloud-based payroll system and a staff member needs to access information remotely. Meanwhile, other employees can also log in to check their payroll deductions, leave allowances, overtime hours, and fringe balances.
Generate accurate, customized payslips and reports quickly
A reliable payroll management system eliminates the risk of human error because everything is calculated automatically. That means your accountant will have a variety of reconciliation tools to calculate each month's payroll. With your books balanced, you’ll breeze through quarterly and annual tax filing.
Ideally, your payroll management system will be customizable, enabling you to create payslips and detailed reports distinct to your organization. You can include specific factors, such as fringe benefits, employee earnings, and deductions, among others .
Save time and money
Investing in your very own payroll management system means you won't need as many accounting or third-party professional services firms, leading to cost reductions and productivity improvements. With the Zentech payroll software, implementation is short and onboarding is easy, thanks to its customizable user-friendly interface. You can even delegate tasks to someone who doesn’t have a deep accounting background. This is particularly helpful for small businesses, as it opens doors for cross-training.
There is no need to view different data sources, because all the information you need is compiled in one place. With a clear and transparent report, you can efficiently manage employee loans, run payroll registers to verify information before depositing salary, and perform automatic bank transfers with a few clicks. This allows you to identify and avoid errors, further saving time.
After a short transition and learning period, your team will process payroll faster than it ever has before. And if your software comes with IT support like ours does, nothing can get in the way of your productivity. Zentech IT Solutions provides comprehensive support, including automatic upgrades, as part of their package.
Forecast payroll expenses
A payroll management system puts the information you need to make forecasts at your fingertips. This allows you to calculate salary forecasts and determine their effect on your company’s financial health, so you can make adjustments as needed. It also enables you to make better growth decisions, like when to hire additional employees.
Sail through payroll processing with help from Zentech IT Solutions. We help you get tasks done accurately in less time with our reliable software solutions. Get in touch with us today!
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