Why you should start using a payroll system:
What is a payroll system?
A payroll system is a software that manages the process of paying employees and all other payroll tasks such as filing in and paying employment taxes, calculating and keeping track of worked hours, calculating wages, withholding taxes and other deductions, printing and delivering checks.
Most payroll software requires minimum input from employers as employers are simply required to input the wages and hours worked and then the software will utilize this information to automatically perform calculations and deduct withholdings.
Benefits of a payroll system
1. Reduce costs
A payroll system uses software to compute all types of payment, such as salaries, hourly, bonuses, pay raises, increase or deduction of wages, reimbursements, overtime and commissions. This ensures that all your calculations will be accurate and mistake-free so that you will not have to worry about calculating or keeping track of the wrong wages or hours worked. This can help to improve productivity and also improve employees’ satisfaction as they are paid accurately and on time.
2. Saves time and effort
A payroll system can also help to reduce the amount of time it takes for you to complete your payrolls. If you manually do all the calculations, tax withholding, and tax filing, you will waste a lot of time and effort doing so, and imagine doing so with tens and hundreds of employees! However, with payroll software, the system does those tasks automatically for you. You simply need to ensure that you key in the correct working hours and wages before you start running the software.
If you are convinced about why you should start using a payroll system, you can check out SMESUITE, an all-in-one server that allows you to manage your workflow effectively and has functions like an email server, firewall, file sharing, work operation functions and HR functions like payroll.
Also, great news for SMESUITE Users!
You can convert to full fledge Payroll Oncloud worth $1,200/year for free!
Some of you who had enjoy SMESUITE HR module, using it as payroll solution, we have great news for you. We would like to offer an exclusive one-time free upgrade for our SMESUITE HR software user to a full fledge Payroll Oncloud.
Payroll Oncloud is a solution of iSuperPay which is used mainly by bigger corporation. It offers more comprehensive function including bi-monthly pay calculation, bank files for most banks in Singapore and ability to handle your complex hourly pay computation.
Features to expect:
- Monthly or bi-monthly pay computation
- Part timers or freelancers hourly pay computation
- Bank Files for most major banks in Singapore
- E-Payslip with secure password
- CPF file for uploading and submission
- Annual Tax return IR8A and Auto-Inclusion Scheme submission
- Monthly report for management
- Must be existing subscriber of SMESUITE (Business solution subscribers only)
- Free for first 30 employees only
- Additional pack of 10 employees at $360/year
- Support will be provided via email only
- Classroom training will be provided
- Free while promotion last – first 10 sign up only
- Promotion valid till 5th Feb 2021
Contact us now for more information!