Every employee receives salary for their services. Accurate salary calculation builds trust among employees and keeps them happy. Salary calculation depends on various factors such as working hours, bonuses, and tax deductions that makes this task complicated and time consuming.
Small companies usually assign payroll tasks to one or two employees, which takes time and effort for payroll calculation and prone to human errors. Calculation of tax deductions, overtime, absentees and calculation of bonuses etc, make the task of payroll complicated. Therefore, it is suitable for businesses to get benefit from software solutions of payroll for small business.
Every business strives to reduce operational costs and increase profits that have become possible with payroll software for small business as it can work as a substitute of staff hired for payroll calculation. One employee can prepare payroll with software of payroll for small business instead of hiring more employees for this task. As a result, it reduces operational cost of a small business.
New advancements in the form of payroll software for small business enable to streamline your operational processes with accuracy along with reducing business operational costs. Lots of companies provide software for small business payroll needs. Software of payroll for small business can do tedious task of preparing payroll quickly and accurately. It can also calculate taxes and deductions that make it an ideal choice for small sized businesses.
Keeping record of employees’ time is important to calculate salary with accuracy as the amount of wage depends on employees’ working hours. Workers pay varies depending on the overtime and under time. Moreover, type of workers also vary as some employees work on daily wages and they get pay according to number of working hours while some get monthly salary. Payroll software provides a comprehensive solution of payroll calculation.
The software application can generate reports with detailed information required for preparing payroll. It is important to choose the software that offers the ultimate solution for your payroll needs. Software you choose should comply with tax structure of that country. If you are running a business in Malaysia, make sure the software you choose to comply with Malaysian tax structure. Below are some important features that software for small sized businesses should have to efficiently calculate payroll:
- It complies with your country taxation structure
- It calculates hourly and overtime pays
- It can calculate bonuses, commission and advance payments
- It can calculate monthly salary
- It can maintain employee profiles.
- It is able to handle multi company transactions
- It can calculate monthly salary EPF, SOCSO and PCB.
- It can generate reports such as EPF, SOCSO and Income Tax.
With the arrival of payroll software for small business, the task of payroll calculation has become easier and efficient. Lots of software programs are available but you need to choose the suitable software that suits your business size and needs.
We offer software solutions that are ideal for small sized businesses in Malaysia. Contact us today for quality software solutions.