Although most payroll software have plenty of automation capabilities, given below are top features that a payroll software should have –
- Seamless payroll processing
The key feature of any payroll software is the ability to effortlessly process the various facets of payroll, including timekeeping and overtime pay rates for workers.
- Direct deposit
Good payroll software can connect with banks to disburse payments/salaries directly to workers’ bank accounts on an immediate basis. This cuts down the chances of any kind of mistakes or lost payments.
Self-service portals that let employees log on and see their payroll information is one of the essential features in any payroll software. It allows employees to fix any mistakes with their data and easily input their own time attendance, leaving only the important work to the payroll professionals.
- Tax filing assistance
The best payroll software solutions have automated calculations for tax filing that can pre-fill employees’ tax information with the data already present in the system and avoid the chances of manual input errors. It will also ensure that your taxes are always filed on time.
To ensure that sensitive employee data remains safe, payroll software solutions should have robust compliance and security measures.
- Accounting assistance
There are multiple accounting functions that can be integrated into a payroll solution to streamline the entire process of finance in the organisation.