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    0 Replies Latest reply on Mar 9, 2011 12:22 AM by amuthanjrv

    Automated Payroll Processing

    amuthanjrv Wayfarer

      Payroll processing in minutes – Completely automated.


      “Computers  are incredibly fast, accurate and stupid; humans are incredibly slow,  inaccurate and brilliant; together they are powerful beyond  imagination.”


      Being intelligent humans, we should utilize the best qualities of  computers, especially, the speed, accuracy and automation capabilities.  If you are stuck with the traditional, time consuming, error prone,  manual payroll processing, it’s time to automate.



      Should I upgrade to automated payroll software?


      A few compelling reasons to upgrade to an automated payroll software:


      1.     Saves you lots of time and money:  Manual payroll processing is  tedious and time consuming. Consider keying in attendance, leave data  for all your employees into an excel sheet for processing every month  end. It’s quite some work. This can be completely automated.


      2.     No manual intervention, hence highly accurate: Humans are intelligent  but they are slow and inaccurate, hence it’s wise not to rely on humans  for lots of calculations. Let a computer do all calculations and  processing quickly and with high accuracy.


      3.     Allows you to process payroll at the last minute, and very quickly:  Payroll is to be processed with attendance and leave data. And you will  have to wait for the last day of the month to get these data. If you  want to pay your employees on the next day, you have hardly any time to  do the payroll processing. So, the processing should be really fast, no  matter how many employees you have.


      4.     Automated payroll processing even if geographically distributed:  Imagine processing data from one centralized location, even though your  organization has branches across the globe, and still completely  automated with attendance and leave data.



      Payroll processing in minutes?



      Payroll  processing in minutes? It’s not a fiction; the best payroll software  can really do the following tasks in a few minutes.


      1.     Process your payroll with attendance and leave data: You should be  able to pay your employee for every minute of overtime he does.  Also,  may be you want to cut pay for every minute he is late. Payroll  processing should also take leave balance and entitlements into account.


      2.     Send pay slips to employees: Right after processing, email pay slips  to all your employees. Also, employees should be able to view their pay  slips whenever they want, wherever they are!


      3.     Email salary transfer information to banks: Statements should be  forwarded to banks to perform a salary transfer to the employees.


      4.     Process your income tax, generate statutory reports: Income tax  should also be processed with other payroll components. The automated  system should also generate statutory reports required by your  government.