Small business Payroll Software

Why Getting A Payroll Software Is Important for your business in Singapore?

For small businesses in Singapore, managing the payment process effectually while ensuring privacy and accuracy is often times overwhelming.

Most enterprise owners know from their own experience that a lot of work goes into getting their employees paid when they do it manually. At the very least, the process requires employing individuals well versed in accounting and managing the records of the salary.

However without an electronic system, payroll processing can become costly, complex and inefficient as business starts to expand from a simple setup to a larger workforce. It can subsequently become necessary for such organizations to put in place strategic payroll management practices that safeguard the organization’s data and policies.

For these compelling needs, it is inevitable for businesses to adopt a small business payroll processing software to ease and secure their payroll processing. But what does it really mean for small business to have such a payroll software in Singapore?

Features and Functionality

Basically, salary processing software is a group of specialized programs that makes payroll processing in a small business easy, secure and convenient. In its simplest form, the software is the best solution to manage and support your business, making management of personnel information and payment easy and effectual.

The employees’ pay is automatically computed, including the overtime computation and other mandatory deductions and contributions prescribed by the regulations, saving a lot of time due to manual computation and potential computation errors arising from manual computations.

Payroll reporting tool – Reports are utmost vital since they provide in detail auditing reports, management costs, reports required for regulator reporting purposeand other financial details that help small business owners to forecast the progress of their businesses and tax computation for their individual employees.

Automated pay slips production – A payment slip is important to any employee for it shows the payment breakdowns.  Employees often use the slips for banking and credit purposes.  A payslip is also important due to regulatory purpose, as Ministry of Manpower (“MOM”) has announced that giving of itemised payslips to employees will be made mandatory (under the Employment Act) from 1 April 2016 by .  Since the slip production process is automated, it can be produced whenever need arises.

Most of the software also has the emailing function, which allows you to email the payslip to your employees.  For some software, you will be able to view this itemised payslip via the phone.

Leave Application and Approval (including app version – optional) – Having a leave module helps the human resource department and leave approving manager tremendously in managing the employees’ leave related matters.

If mobile application is used, the information captured in the mobile is synchronised to the web application.  This e-leave application allows you to apply for leave and view your leave details (which include leave application status, leave balance, unpaid leave and so on) via the mobile.  This function is especially useful when your team is usually on the go.

Timecard App (optional) – The information captured in the App is synchronised to the web application.

For companies that require employees to log in their hours work to keep track of their attendance, for salary computation and project costing purpose purpose, having a timecard app will be very useful as it gives the employees who are not working in the office better convenience to log in their time.

With the GPS location function, it also facilitates better project billing costs computations for employees who manages various projects at various sites concurrently.

5 Benefits Your Business Will Enjoy

1) Speeds up payroll preparation –  The fact that the wage processing software is automated programs means that it takes less effort to feed in data (including accounting for new employee) and prepare the final reports. Even if your business operation is not large scale, your business will still save precious time.  The time that is saved up can be channeled to more strategic use.

2) Easy to prepare reports – As a small business owner, you’ll it find easier to make reports spanning certain duration by simply feeding instructions in the program. The reports are also displayed in a format that is easy for checking.

3) Secures employees private data  – As with other programs used to handle sensitive data, salary processing software has security handles to safeguard employees’ details. Basically, it’s only trusted employees who are authorized to access the data. Even so, they’re answerable for the safety of the data.

4) Better storage of data – Converse to storing data in print, a computerized system saves payrolls reports and employees data in storage drives on computers saving on office space and printing resources that’d be required to print each of the data sets.

5) Saves on resources –  Businesses that invest in payroll processing software saves training costs on their employees and it is usually easy to learn the usage of the software.  Additionally, it costs far less to maintain the software after the initial fixed cost.  This is good news for small business who purchase a HR payroll software as they can ensure that they produce payslips within the mandatory requirements without affecting their financial costs.

Payroll Processing Features In Our Software

Our software has advanced features and a user friendly interface making it perfect for small scale businesses. Essentially, the salary processing features will keep track of payments and subsequently update your expenses. The software contains various payroll, human resource and statutory reports which are useful for the company to better manage the employee related matters and to process those mandatory submission for statutory reporting purpose.

Our Off-the-shelf Products with the Powerful Payroll Features:

• AGHRM
  1) software certified by IRAS and CPF.
  2) SPRING, appointed HRSS provider and pre-approved ICV integrated solutions.
  3) Hosting options include cloud and server.
  4) Mobile app version, allows employees to apply for leave and view status of your leave and claim anywhere.
  5) Can be integrated to accounting software, includng MYOB, SAP and Netsuite.
• MYOB
  1) MYOB Premier Plus – For Multi Currency-Transactions, Multi-Users, Time-Based & Tracking and Payroll
  2) MYOB Payroll – Standalone solution

Singapore Statutory Reporting Purpose

The Singapore statutory reports includes tax related and other reports such as the monthly CPF payment advice and yearly report like IR8A.  The human resource reports include staff details, anniversary listing (showing anniversary of birthdays or service years), leave balance summary, leave transaction summary and staff listing by department.

Call Us Today!

There are innumerable gains when small business turns to using payroll processing software. Of these benefits, saving on costs and time, increased efficiency and overall data security are important factors that will spur small businesses into sustained growth due to improved cash flow control.  In addition, you can purchase the related accounting software for small business Singapore.

Contact Us (click here) now to see how you can manage your payroll electronically and efficiently!