Payroll Software Overview
What is Payroll Software?
Many businesses use a payroll software system to organise the employee information required to process the pay and benefits of employees. Payroll is a specialist function and many businesses use payroll software, an outsourced payroll provider or accountant to deal with this essential business task.
What are the functions of payroll?
- Calculating employee pay
- Calculating tax and superannuation
- Calculating PAYG
- Paying employees their due pay
- Making payments to ATO
- Producing reports for employees, the accounts department and ATO
What is payroll admin?
Payroll administration is the umbrella term for the tasks necessary to organise employee pay, including keeping records of hours worked, leave, pay rates, and managing salary payments to employees.
Why use payroll software?
Traditionally HR professionals have spent the vast majority of their time on administrative activities. Today, HR people are supporting their business in more transformative ways, concentrating on the support and development of staff more than admin. This has largely been achieved through advances in technology in the form of HR and payroll software.
HR and payroll software enable a reduction in the time spent on HR administrative duties and a greater integration of HR in the workplace, adding much greater value to businesses.
How much does payroll software cost?
The cost of payroll software varies considerably according to supplier and functionality. Breathe’s low-cost HR software is securely in the cloud and starts at just $58 per month, making it accessible to start-ups and small businesses.
To learn more visit our Payroll In-Depth page.