As a payroll manager, the time of the month when you have to deliver the salaries of all your employees is quite hectic. Usually, the last week of every month is spent doing calculations and estimating the salary of each and every employee of your company. However, with the introduction of advanced payroll software in the market, it has become easy for you to manage all these things as you have an automatic record of employees’ working hours, their overtime, their extra leaves, deductions, and taxes.
However, things do not end only after buying software to assist you in your account office. You still have to manage this software and a slight mistake in it can ruin the whole record of any employee. Therefore, you must handle it with great care. Following are some of the dos and don’ts of payroll management that you must keep in your mind every time you are using it.
Dos of Payroll Software Management
Considering Your Timeline
You must consider the timeline while managing any payroll software. This timeline might be of four different types concerning salary duration. Weekly, bi-weekly, bi-monthly, and monthly. The number of salaries you have to deliver depends upon the timeline you have chosen. But you have to keep one thing in mind that regardless of the nature of payment, it must not be more or less than the actual payment.
For example, if an employee is hired on a salary of 25 per month and you pay this employee weekly, then the total payment received by that employee in a month must never exceed or reduce from 25K.
Paying Through Direct Debit
Almost every payroll software now has a feature of paying your employees via a direct debit instead of the traditional cheque system. This will prevent them from getting into lines for a long time to cash this cheque. Moreover, there is also a risk that you might lose the receipts of these payments which can cause trouble for you. While the direct debit through payroll software will keep a record of each transaction and there is no fear of losing this data as you can set a backup for restoring it.
Backup
You must have backed up your whole data on payroll software. You cannot predict what is going to happen next in your life, loss of data might happen even using payroll software. However, when you have a backup account linked to the payroll software, you can restore any lost data whenever you want.
Don’ts of a Payroll Software Management
Investing in Expensive One
It is believed that almost all payroll software performs the same function, which is to help you at the end of every month in paying your employees. Some software has some extra features as compared to others, however, they are not very useful for you. Therefore, it is suggested that you should not invest in expensive software as you can take the same work from a normal one.
Delayed Payments
Delaying the payments is something that you should never do. Set your payroll software accordingly if you are paying directly through it. This is important because when you delay the payments of your employees, it results in the loss of their trust in you. And in response, they don’t pay full attention to the work they are hired for. Moreover, it also harms the reputation of your country.
Using Free Software
This may feel contradictory to the point we discussed above, but using free payroll software program can pose problems for you. For example, these programs do not come with advanced features. Furthermore, their customer support system isn’t very strong. So, it’s recommended to choose the best HR and payroll management solution even if you have to spend a little money. There are many such programs available, including Netchex. You can easily find the one that suits your budget.
Now you are fully aware of the dos and don’ts of payroll software management. If you think you are doing something that includes don’ts, then avoid it as soon as possible because it is not going to be fruitful for you in the future.
