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Best Payroll Software

Platforms:
Suitable For:
Agencies, Enterprise, Organization, Startups

Tally.ERP 9 is India’s leading accounting cum business management software. Tally is designed to handle the uniqueness and complexity of every business. Four fundamental philosophies of this product are simplicity, flexibility, speed and reliability. Tally being a GSP makes the GST filing seamless.

Platforms:
Suitable For:
Agencies

Kevit Hisoft is simple and intuitive cloud-based HR Software. It provides HRIS records, leaves and attendance, Payroll, expenses, travels making it very easy to manage Human Capital in your organization. Cloud-based solution for maintaining data of the biometric application.

Platforms:
Suitable For:
Agencies, Enterprise, Organization, Personal, Startups

Best Business Management App Covert your phone to a biometric time machine attendance visit & order management Customer Management Product Management Leave Management Expense Management Task Management Auto Salary Report generate location tracking attendance using mobile app

Platforms:
Suitable For:
Enterprise, Organization, Startups

Logic Enterprise is a Total Integrated ERP Software Solution that facilitates organizational Process related to Production, Sales and Distribution, Retailing and service & repair oriented business

Platforms:
Suitable For:
Enterprise, Organization

HRMantra is the World's most feature rich HR and Payroll software helping automate the most complicated of hire to retire HR processes easily using its CRORES of ready to use features. It saves 30 min per emp per day giving over 10 times ROI. 100% project success assured.

Platforms:
Suitable For:

Ultimate Solutions , A Multinational Software company .

Platforms:
Suitable For:
Agencies, Enterprise, Organization, Startups

Paywell software is empowered with user defined Earnings, Deductions, Loan Heads, Component Masters and other statutory configurations.Once the paywell software is configured as per your time attendance system & policies you can process payroll and the associated statutory compliance with a single

Platforms:
Suitable For:
Agencies, Enterprise, Organization, Personal, Startups

The eliteHRMS is the proven and tested with different verticals IT/ITES, Production, Food and beverage industries. It improves the Management activity of HR with best standards. Also it has the core goal to fit with the corresponding industries without or less customization.

Platforms:
Suitable For:
Startups

AlignBooks is a Business Accounting Software specially designed to cater the needs of micro, Small & Medium Business Enterprise, Chartered Accountants & other Professionals, and the Business Executives who mostly remain on the move.

Platforms:
Suitable For:
Enterprise

It all began with frustration of using software that sucks. Prior to starting Keka, our core team were a 100 person business that needed an easy to use software for managing employees. We looked everywhere and all we found were software that was lousy and hard to use. We felt SME businesses in India

Platforms:
Suitable For:
Organization

Process payroll accurately and securely in 3 simple steps with ADP Vista HCMSM – a highly configurable and secure cloud-based payroll software designed for small, medium and large businesses. With Vista HCMSM, you can generate all the necessary payroll and compliance reports like payslips, tax slips

Platforms:
Suitable For:
Agencies, Enterprise, Organization

We enable HR departments to leverage IT for both effectiveness and efficiency. Our software solutions cover all areas including employee information management, leave and attendance management, training, appraisals, compensation and much more.

Platforms:
Suitable For:
Startups

HRMantra is available on both On-Premise and Cloud models and has a fully integrated Mobile App for the Self Services driven functions. We are committed to keep continously innovating rapidly in order to give the best services and deliver excellence in every aspect of HR Automation.

Platforms:
Suitable For:
Agencies, Startups

Payroll Specialist is very easy, flexible and user-friendly Payroll Management software for India that takes care of all your requirements relating to management of employee’s Payroll. This payroll Software, offers user defined Earning / Deduction / Loan Heads & Calculation Tables. The Software gene

Platforms:
Suitable For:
Agencies, Enterprise, Startups

Paybooks is the leading provider of online payroll software and payroll outsourcing services in India.

Platforms:
Suitable For:
Agencies, Enterprise

247HRM is well equipped to handle all your HR needs. With over 61 years experience, 650+ satisfied clients and having managed over 1 lakh employees, 247HRM is the leading provider of HRMS Solution in India.

Platforms:
Suitable For:
Agencies, Enterprise, Personal, Startups

PeopleApex Multi-Country HR and Payroll is an integrated end-to-end enterprise-level HCM solution, designed to empower the employee with robust employee self-service (ESS) and at the same time provide a holistic view for managers with manager self-service (MSS). It is designed by industry experts ha

Platforms:
Suitable For:
Agencies, Enterprise, Startups

A payroll software is capable of managing all the systems like Employee Documentation, Salaries, leaves and Attendance, Shifts, Government Compliances, employee's compensation, and wages and help to track the information about employees.

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What is payroll?

The term payroll refers to the list of employees that receive compensation from a company or the money that is paid to the employees.

Payroll software is a tool that help organizations in automating processes relevant to the payment of employee salaries. It also manages the increment in due time, and also calculate different deductions or additions like ESI, PF, TDS, Gratuity, and Bonus.

The payroll management system can be acquired from a Human resource software vendor or is connected within as a module of larger ERP software package.
Payroll software is now a need in all industries like chemical, manufacturing, trading, distribution, and even in direct sales business.

Features of Top Payroll Software:

The essential features of any payroll software are:

  • Payroll Processing: It is a function given in any payroll software. Most of the software offers integration capabilities, such as linking the system to leave applications, timekeeping, overtime, etc.
  • Tax calculation and filling: With automated calculations, it reduced the risk of human calculation error. Automated filling ensures that the company and employees taxes are filled on time.
  • Integrated Accounting: The payroll software eliminate the scope of miscalculation and placement of the critical data in the wrong file.
  • Generate pay slips: With the help of payroll software pay slips can easily generate for all the employees through payroll management system or salary slip software.
  • Customized Reports: Among all the features of payroll software, customization plays an integral role. The reports, screens, fields, tables, and menu can also be customized.

Benefits of Payroll software:

Payroll software lends business automation, data centralization, templates, integration and customization together deliver the major benefits.

Some of the benefits of top HR Payroll software are as follows:

  • Internal control: With the growth of an organization, it may become necessary to control payroll processing, save money and eliminate partner management tasks. With the help of payroll software, it is easy and cost-effective.
  • Report generation: A payroll software lets you create a small tool to analyze data and enables a user to produce creative reporting.
  • Security: A good payroll software ensures that your employee’s personal details are safe and secured.
  • Pay taxes and updates: Payroll software has inbuilt location based taxes calculation and reporting, which help to pay accurate taxes on time and also help to notify when to pay tax next.
  • Easy and fast payroll reconciliation: A payroll software enables you to verify accuracy in each payroll by using a variety of payroll reconciliation tools and help to compare current and previous month’s payroll.
  • Cloud-Based Software: Cloud-based payroll software solution provides automatic updates when tax and compliance law change and also save time ensuring all manager and employers have access to needed information.
  • Employee Calendar: These is an easy approach to manage different accepts of employee status like

Factor to consider while purchasing a payroll software:

Payroll is one of the most integral parts of any company and hence very important to have competent software to manage it. Today there is much software available in the market so to choose the best software it is important to consider the factors.
The factors to consider while choosing a best fit payroll software for your company are:

  • Online/Desktop software: There are two types of software to choose before you compare payroll services: online and desktop software. If you are going for installation based software it works only at your workplace/ where computer it installed. If you are going for online software then learn about serves strength and bandwidth.
  • Flexibility: A good software should have easy customization as per business needs and flexible to activate and deactivate the features as per needs.
  • Integration: Easy integration is important for payroll software. The ability to integrate the existing system with an online payroll system has a huge benefit.
  • User Interface: A software is used by different users within a company, from an operator to a CEO of a company. Thus it is important software is designed for easy use for operators but also give valuable insights to the top management. User interface must be easy enough to navigate between data fields and easily retrievable reports
  • Support and customer service: Before selecting any software make sure that the service would be provided by a company and customer support is available when required. You can also check how a particular company is giving services to existing customer by check rating and reviews in bazaarsoftware.com
  • Free trial: Some payroll software comes with a trial so you can get an idea of running a payroll software. Check to see if the payroll software offers a free trial or not. You can directly ask for demo or trial version on bazaarsoftware.com by clicking on the demo button on right side of category section.
  • Security: It is an important aspect of choosing payroll software. Make sure you know how the provider secures employee’s information. So that you can trust that the information is safe.
  • Updates: There are continuous amendments in the income tax act, PF, and acts by govt. the vendor should provide continuous updates and support in the software. Thus it is suggested to go for a SaaS based payroll software if you are a larger organization.

Latest Payroll Software Trends:

Managing HR function and payroll of employees is a crucial part of any organization whether it is small-sized business or big corporate house.
Open source payroll software is the latest buzzword today, due to the massive advantages they bring to an organization. Some emerging trends that will shape HR payroll technology are:

  • Mobile Employee Engagement: Employee can access important information such as monthly pay slips, tax deduction and leave application at the touch of their mobile screen. In coming year employees can access their sensitive HR data such as personal details, records, performance appraisals in their mobile.
  • Decision Making: Payroll software guarantee that your data is accurate and error free. It can help in making a strategic decision about talent management, retention, tanning, compensation, etc.
  • Payroll will be audit-ready: The employers will adopt automated report generation that allows electronic submission without any complex formalities.
  • HR Integration: Data integration of employees with accounting and expenses management is important. It includes third-party tools and software like location-based attendance tracking, the employee onboarding, and training.
  • Data-driven: Payroll management is becoming an instrument for data-driven. Data payroll management system generates to find patterns and insights that help shape strategies and drive the company’s overall strategies.
  • Employee Productivity: With the help of HR payroll software and application, a team leader can track their employee performance and insight in real time. An HR manager can train the employees from time to time and ensure maximum productivity.

Potential issues with Payroll Software:

  • Incompatibility with other systems: Not all payroll software designed to work with other systems like HRM, ERP, and Accounting software. So always check for integration when looking for the best payroll software.
  • Sensitive data in third-party hands: As with other cloud solutions, the issue of storing sensitive data on vendor servers always critical.
  • Incomplete features: Some payroll software focus only on core functions and leave out non-core tools that may be key for workflows.
  • Tracking Employee Absence: Payroll software tracking of absences due to various types of absences is critical for effective planning and optimum productivity.
  • Administrative Burden: There is also an administrative burden on payroll errors. Each mistake takes time to correct. This process is time-consuming as talking to employee and manager for correction of an error.
  • Data conversion: If you are changing old to new payroll software, the previous data may not get migrated completely to the new software

 

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