How Will PayDay Payroll Software Save Me Money?
Do You Wonder How Will PayDay Payroll Software Save Me Money?
Payroll management forms an integral part of business management, regardless of the business size. It goes without saying that payroll software can help to streamline monthly salary management, but with so many offerings on the market, you may ask: “How will Payday Payroll software save me money?”
Let us first begin by taking a look at the features specifically of PayDay Payroll software and how such can help you save money, giving you clear indication as to why you will want to invest in PayDay Payroll software as opposed to using spreadsheets or any other form of software in managing the salary function.
The main functions of the PayDay Payroll modular system include everything you need according to your requirements for making third party payments, helping to streamline payments to statutory bodies, including UIF and SARS. It also includes a budget and a photo module, a time and attendance interface, third party HR system interface and a General Ledge interface.
Of course, you don’t have to use all the modules and this is what makes PayDay so useful. You can already start to save money by simply using the modules relevant to your operations and within your budget limit. As such, the payroll system can grow with your company.
Imagine being able to automate time consuming and tedious tasks. With such you will be able to use your payroll personnel more productively instead of them doing repetitive tasks. This is possible when using the PayDay Payroll software. The system allows for automation of specific calculations, and thus reduces the human error factor while also helping to save time and usage of resources.
It is a talking payroll system, which means users can get audio and visual guidance. With such, there is less reliance on the IT department. With ongoing guidance in usage, the users quickly understand steps in processes and don’t have to waste time in waiting for expert guidance. It also translates into money saving because of time saving.
The system enables the creation of IRP5s and IT3(a), in addition to electronic files which are submitted to SARS. With this in place, more time savings become a reality and with fewer mistakes in SARS forms and submissions, the risk of penalties is considerably reduced.
The Third Party solution is equally beneficial. It enables you to stay legislative compliant and to process third party payments efficiently. You can consolidate all company cheques and payments into a single company payment. Payments can be made via EFT, cheque or ACB transfer. An unlimited number of cheques can be processed in a highly secure environment.
The General Ledger interface of the PayDay Payroll software gives you an interface between your payroll and financial expenditure system. With such you can split costing between departments; indeed, as many as 30 departments can be handled. Having the interface in place, helps to save time and labour, because there is no need for recapturing the data on the payroll.
You can also make use of the Leave Module for streamlined leave management. Leave totals can be added to the payslips with accuracy and you can have automatic forfeiture notices sent to employees. It comes with a customisable leave calendar and the leave history of every employee in the company.
Improve payroll accuracy and management even further through the Time and Attendance Module which allows for user login only once a physical presence has been verified through, for example, biometric recognition.
Employee self-service is offered, enabling employees to view and track their leave application progress, update their personal information, and print their IRP5s and payslips.
Everything you need in an effective payroll system is included in the PayDay Payroll software. It is designed for real-time usage. It is a sophisticated software solution that is equally fitting for a small- or medium-sized business and a large multinational corporation. Save money through automation, reduction in paper work, usage of manpower in payroll management and reduction in errors. Make the smart choice and make use of our PayDay Payroll solution.