Payroll software is ideal for all your payroll needs and has everything you need to manage the wages and payroll department. Fully conversant with the latest HMRC regulations, payroll software simplifies an often-complicated process and ensures that you have the best tools for this difficult job. Holidays and sick time can disrupt your company and is one of the variables that can complicate the monthly payroll as well as leaving you short staffed. You need to be sure your payroll software can handle it. .
Good quality Payroll software should be easy to use and well designed. It has a calendar program that is fully integrated into the payroll system so that you can enter up to date information instantly it comes in. Payroll software needs to be user friendly so that all information is stored in the same place.
A program that looks complicated or is awkward to use results in errors and omissions on the payroll. This may happen if staff members are reluctant to use the program.
When payroll software works well, reporting and noting absence is simple. You just enter the employees name into the relevant dates and indicate the reason why he or she is not at work. The software will do the rest and calculate the correct wages, deductions and tax.
The software will even tell you whether your employee is eligible for statuary payment such as sick pay or maternity pay or whether this is an unauthorized absence. It will also store this vital information so you can add it to the RTI on payday.
Keeping you up to date and fully compliant with HMRC rulings makes completing your annual declaration at the end of the year much easier.
Although it will soon be necessary to file your PAYE, employment and tax information each month, you will still have to file a P35 at the end of the year. Payroll software will guide you through this process and automatically account for each employee’s total sick time and holiday pay.
Payroll software makes it easy to make deductions. You can set up default contributions for your employees for a range of payment schemes. Pension funds, stakeholder pensions, private medical insurance and holiday funds, whatever “at source” payments your employee or your business requires, can be accommodated by the software.
All payments, deductions, and vital data are added to each employee details and can be accessed at a click of the mouse.Payroll software streamlines the payroll process. You and your employee can be sure that he or she is paying the correct amount of tax and NI contributions so there will be no nasty surprises at the end of the year. You can be sure that you are paying the correct statutory payments and not paying for unauthorized absences, and when it comes to calculating sick pay and holiday pay there will not be any mistakes.
HMRC rules stipulate that all businesses must install payroll software in order to remain fully conversant with new regulations, so it is important to act before it is too late.