5 Best Practices for a Successful Payroll System

Most of the companies use the old fashion technique of payroll alone (sage), which is time consuming and not so efficient and has many errors in the entire process. To manage the system of payroll process in most efficient manner, it can be done in following way.

1.     Making system transparent : it is reduces time, classify employees properly, keep records of  underpaid taxes and other policy issue which will produce copy to all employees and they will understand from it.

2.     Avoid manual calculation: buy avoiding human calculation using human or excel spreadsheet increases error, it is better to use software for reducing errors.

3.  Regularly audit your process: paperwork and process data should match properly because even sometime software’s system also produces error, these error are need to be checked and verified so that process work in most efficient way, so once in year the auditing system is necessary.

4.     Prevent time theft : most of the companies use old method of manually entering the “time in” and “time out” time in register book during working hours. This give employee to chance keep mis-record of time, whether employee was present at work or not. It is difficult to track employee by this method during work hours.

To avoid such problems use modern technique of biometric tracking such as fingerprint and card swipe method so that we can track employee during work hours.

5.  Stay up to date: Our government with the change of year the regulations related to companies’ regulations, labor benefits, taxation, HR policies etc. keep on changing. It should be updated by each company so that the can implement properly in payroll system and provide maximum benefits to their employees.

The best practice of payroll for employees will be upgrading traditional methods by new modern techniques, which will make entire process transparent, less time consuming, and properly monitored process leading to increase in efficiency and effectiveness of entire organization.