Payroll processing is an important aspect of each organization. It can be tiresome, time-consuming and a costly affair. It, therefore, needs to be done correctly. Businesses need to adopt ways to make this process more accurate and efficient. Purchasing a good payroll software is the best investment any company can make. Look for software that meets your business requirements.
Set up a payroll Calendar
Create a Payroll calendar that states pay periods and when payroll will be run. This could also include details of input required for payroll processing, when it will be completed, and due dates for the generation of required reports and tax deposits. This will enable your entire team to be on the same page and track progress.
Find an advanced payroll software
Crew HR& Payroll software is an example of advanced payroll software. It is up to date with the employment act and tax laws. This makes it easier to remit statutory fees/payments. It also comes with a self-service model for your employees. They can log in, update their personal information and apply for leave through the system. Leaving you time to focus on other more important payroll-related processes.
Keep policies simple
The more complex your attendance, paid time off, expense reimbursement and other policies are, the more complex your payroll process will be. Keep your policies simple and concise. Also, don’t overcomplicate policies by creating different policies for different levels of staff or creating strict, detailed guidelines that will add more administrative complexity to payroll.
Collect employee data
Make sure you have all the data you need from your employees. These include their ID Number, names, occupation, and gross salary. Save this information in your payroll software for running future payroll.
Cross-check employees’ data
You mess, you lose money! Accuracy is of utmost importance when it comes to Payroll. Verify employee records to make sure you are paying the right people for the work they have done.