Initially when you started your business, Human Resource (HR) administrations would have been pretty simple. Isn’t it? With an organization comprising of handful of ten or less employees, managing payroll services is easy, as uncomplicated calculations can be taken care of via spreadsheets too. Any leave or attendance records of employees are easy to track through time sheets.
But as your business starts expanding with more employees being recruited, the HR administrative problem starts slinking in. Comprehensibly, employees need to be paid on time. Not just the payment but you need to keep appropriate records of employee benefits, attendance, leave records to ensure accurate wage calculations. At a point it happens that every company needs payroll software that takes care of HR activities.
Let’s see which all signs indicate that your organization needs payroll software:
- When Payroll Looks Complex
Calculations regarding employee wages and deductions require high accuracy. All these payroll activities require a lot of time and effort, as accounting has to be correct. In order to prevent inaccuracy of wages, time-keeping and employees’ leave records have to be up to date. Even for few employees, these few tasks can be an overwhelming affair every monthly.
- Numerous Payroll Mistakes
Being human it’s natural to make mistakes and rare cases of hiccups in payroll are still allowed. But when employees start receiving late paychecks on an occasional basis, or more recurrent wage miscalculations, employees gradually becomes unhappy. This unhappiness leads some of your star employees to look for greener pastures.
- Double-checking the Calculations
Payroll being an important activity for the company, you make sure that you pay out the correct amount the first time. To ensure that you do not receive any complaints from employees, you do several iterations of payroll calculations. This surely increases the chances of accuracy, in terms of efficiency and costs, but the hours you spend to double-checking the calculations are wasted time and money.
- Struggle to Meet Tax-Filing Deadlines
If it happens that you find yourself constantly racing against time to ensure your employees receive their paychecks on time, or file taxes before the tax portal closes, then it’s time you seriously consider an engaging payroll software. It will not only save lot of time, and but also costs.
- Piled-Up HR Tasks
Nowadays we see don’t see any difference between HR and payroll. Payroll admins are now taking on more HR duties, and HR person serve as the payroll back up. Irrespective of how your company works, it is better to rationalize the entire HR and payroll process. When recruitment happens, does your office admin juggle mounds of paperwork? Implementing software that helps to update those tasks and put them onto the people who are ought to complete them is a great benefit of software.
With success comes loads of a pain, but having proper tools will help you to work through the pain. Having the right software makes your organization a great place to start. Do you too face the same problems as listed above? At Tricon, we have PayWheel which is intuitive and cost effective business payroll software for HR and accounts personnel. Being fully integrated payroll automation software it limits all the complex and tiring processes to minutes and not days. Thus if you are in need of a comprehensive automated payroll software to ease your payroll tasks then contact us immediately.