Whether it is an automated payroll or a regular payroll – it is the most common and indispensable part of any business. It is also the part is common to all businesses across various industries. Company of any size, function and management style requires constant payroll processing.
The main purpose of payroll is to gather, manage and organize the company employee’s financial data in order to make timely salary payments. Also it is important for determining the following: taxes, social security, insurance, and so on. A smooth running payroll system is the easiest way to organize the financial flow within a company.
In this article we would like to look at 3 reasons why automated payroll is more reliable.
Automated payroll vs regular payroll
Payroll is a function that needs to be executed in business of any size and scale and therefore it must not be complicated. It is crucial to make sure that all employees receive timely and correct salary payments to guarantee that they will be satisfied with their job and will be able to focus on their work tasks, ensuring the growth of the business.
Payroll calculation process includes many steps: integration of attendance data, calculating gross salary, additions, deductions, net pay, employee payroll taxes and others. A mistake in any of those steps will result in the whole calculation going wrong.
Benefits of automated payroll
- Using an automated payroll system will provide more consistent and error-free results if comparing to regular payroll calculation done by an HR department.
When creating a payslip there is a large number of specifications to take into account. Mistakes in tax calculation might cost a company a hefty sum in penalties.
- Automated payroll is a great way to keep records of salary calculations and payments in case of an audit.
Clockster provides an option to download a payslip with detailed information on the payment including all additions, deductions and taxes.
- Convenient employee self-service
An easy way for employees to view and track their payslips. In Clockster all approved by administration payslips are displayed in the employee’s Payslip tab. It will ensure the clarity of all payments: employees will always know what exactly constitutes their salary. Accessible on any device in the Clockster mobile app.