Better, efficient and accurate Payroll management is the crucial responsibility of an HRMS software system. In an organization, employees won’t be managed well until their salary is secure under a perfectly managed system. This is what a payroll management system does by streamlining all the records related to employees pay. Secure management is the quality aspect while establishing payroll management software in any company. This is due to the feature which allows assigning access to only the designated person within the company. Passwords will be there to secure and it is provided for the particular level of the hierarchy that allows them to perform only permitted duty.

Automation of HR practises becomes dominant in the era of technological advancement which has moved spreadsheets to secured cloud-based payroll solutions. This benefits you including major ones like the ease of use, anytime-anywhere access, employee collaboration and quick retrieval of records. A Payroll system is an important part of HRMS software with a structure that is split into different set procedures to deliver desired results.

1. Data input and Validation

Payroll inputs are forwarded to the concerned department for further processing including the details of every aspect ranging from one-time payment or any salary addition or revision, new joiners, exit employees. These procedures are validated considering the general rules and regulations followed by the company.

2. Processing

After submitting all these inputs, this has analysed and processed in the system for salary calculations. The payroll system will generate the gross and net salary of each person with relevant deductions and taxes applied.

3. Verification check

To verify the accuracy of the pay results is the next step after completing the processing. Using a salary register with the detailed statement of all the pay elements and deductions an employee is liable for. Every detail will check at this stage before stepping to further moves.

4. Report generation

A crucial part of post-payroll activities where a bank file is created including the net statement pay plus personal bank details. this total of the bank file must match with the net pay total in the pay register.

5. Statutory Compliance

To allow the online payment and receipt generation along with online submission of returns, your system must be linked to the government portals. The payroll of a specific month is locked to prevent any input or further changes after the final process.