When you have your own business and you are paying one or more employees, you don’t need to worry about payroll transaction because there are lots software for payroll management today that will help you to make your work easier and faster with minimal errors. Even if you make a small error, it can be solved immediately to prevent delays. Nowadays, there lots of payroll management software you just look for software that user friendly and not so complicated to use, so that you can easily teach your staff or other employee.
By using the payroll management software you need to classify every employees by their position and employee status, because some employee are permanent and other are contractual, because wrong classification of employees position and employee working status can lead to wrong calculation of tax exemptions and other deductions. You need also to have backup in all files, for future purposes. Double check your work even if it is automated system, to prevent revisions in your work.
Other employees abusing their working hours, will have to clock in and clock out properly. If your company uses ledgers or punch cards they ask favor to their co-employee to include their ledgers or punch card to time in and time out if they are late or they go home early. You can stop this by using biometric machine to your company, because they will be the one to time in and time out by using their fingerprints. Biometric machines will integrate the attendance data to the payroll system. The integrated payroll management software will automatically calculate working hours of every employee, and it will calculate payroll in a proper way or appropriate way. The best way to practice manage your payroll management system is to keep yourself the payroll in-charge, or staff using manual payroll calculations, transferring your payroll to a specialized software system. The Human Resource Department will make their work easier because the payroll management system will integrate all data, and information will be put in one system, like leave, attendance, loans and advances. Also, if they need a soft or hard copy, they will generate the reports, save it and print it.