How Do You Calculate Payroll to Ensure Accuracy?

 

How do you calculate payroll? Do you still use complex formulas and SARS tax tables? Do you apply such formulas in spreadsheets? Do you regularly struggle to ensure the accuracy of calculations and do you wish there was an affordable solution?

If you have answered that you use formulas on the question of how you calculate payroll, you most probably have to burn the midnight candle often in order to process payroll issues. This is also true regarding the other questions.

As a small- to medium-sized business owner, you know that it does not make economic sense to appoint someone just to handle the payroll function. Sure, you will need such in future, but while your business is still being established, you want the task to be streamlined and handle it personally.

If you do migrate from your existing manual processing or even software solution to PayDay Virtual, you will not have to be concerned about answering the question of how you calculate payroll. This is because the online payroll software does the calculations for you. We even predefine the earnings and deductions for you, minimising the work and complexity of payroll management. Our call centre agents are also standing by to assist you when necessary.

The calculations are always correct, simply because the formulas are structured correctly. The data is always secure and safe as automated backups are scheduled and the data backups are stored at a secure location. In addition, you have the convenience of access to the payroll system from anywhere and from any browser, as long as you have internet connectivity. This means that salaries will be paid on time, even if you are on the road. If you want to print or email a payslip, you simply have to click the button.

But, what’s most important in terms of how you calculate payroll is to know that the system is automatically updated and stays SARS, UIF, and legislative compliant. In other words, you don’t have to be concerned that you are using incorrect deduction and calculation methods, because the parameters are always up to date.

You can even give your employees access to their information, ability to view and update their personal information, and to follow up on their leave availability. This is possible if you also make use of the Employee Self-Service module. PayDay Virtual ESS thus makes payroll management even easier.

Don’t struggle with an answer to the question of how do you calculate your payroll. Simply migrate to PayDay Virtual and have all the calculations managed for you.