Payroll software is a solution used by HR or payroll professionals to manage the entire life cycle of payroll operations from start to finish. Here are some of the important payroll software features, benefits, and things to consider when choosing the best payroll software for your business.

Definition of payroll software

Any HR or Payroll professional will tell you that there is more to payroll processing than simply calculating paychecks. From enrolling employees on company payroll to ensuring flawless compliance and maintaining payroll records until departure, there are a number of repetitive tasks each month. Payroll software helps professionals control all of these activities effortlessly from one place. Watch a quick overview video on typical payroll software features.

Importance of payroll software for your business

Payroll processing and management involves a wide range of activities to care for an organization's critical asset - its people. Done manually, with an outdated system, or using a spreadsheet, it becomes complex, time consuming, and sometimes inaccurate. Dedicated software helps payroll professionals streamline other payroll tasks, allowing HR and small business owners to create space for important business projects.

Payroll automation

Processing payroll manually means you are leaving the door open for inadvertent mistakes that could be very costly. Payroll software can automate both complex and simple tasks, allowing you to better tackle payroll. From preparing payroll to closing the pay period, good payroll software keeps the process organized, easy, and efficient.

Track payroll expenses

For any business, payroll is always a recurring expense. As your business grows, your payroll expenses increase, and you need full visibility from one of the biggest contributors to your month-to-month profit and loss statement. Payroll software Malaysia can generate all of these reports from employee salary records to statutes and bonus payments, allowing you to track expenses down to the last rupee.

Make taxes less burdensome

We have seen scenarios where companies are penalized for not submitting taxes. Payroll software helps you adapt to changing tax laws, choose the laws that will apply to your business, control PF contributions, and more. Your organization can be sure that you will always make accurate tax deductions.

Integration with relevant business applications

Payroll staff coordinate with various teams to gather information for payroll processing each month. The process is complex and time-bound, and with a growing business it will only get even more difficult. Secure integrations allow you to access data from multiple computers in one place. Payroll software tightly integrated with the HR and accounting platforms helps you bring together three different but crucial departments under one roof.

Secure your payroll data

The payroll system houses confidential information about your employees, such as salary, taxes, bank accounts, and more. QNE Payroll software can improve the integrity of your payroll data with detailed access controls. You can differentiate between the multiple roles each department plays and eliminate unauthorized access. Collaborate with staff securely, present the same interface but let payroll staff see only what they need based on their roles.