March 12, 2018 11:27 am | by Loren
Payroll is an important component for every organisation and an efficient payroll system represents the organisation’s perspective of its employees. It takes care of, not just the salaries & wages but also the morale of the employees. Previously, payroll was done in a traditional way, such as manual data entry into time sheets, paying hard cash or issuing a cheque and taking a ‘received’ note from the employee etc. However everything is digital now and if companies are not adopting the digital way then it will in turn negatively affect the company’s operations.
Payroll software is now available as a separate program or comes integrated with other programs that manage business accounting, inventory etc. Accounting payroll software should be easy to use and reliable. Management should keep in mind the important functions that payroll software should do before committing to a particular payroll program. Here are some important features to be considered.
Important features that should be present in a Accounting Payroll software
Your payroll program should be in compliance with the government tax system and the recent introduction of Single Touch Payroll (by Australian Taxation Office) will revolutionise the payroll system in the near future. Tax deduction details, insurance and other details of the employee will be made readily available to the government with STP. The ultimate goal of your payroll system should be accurate recording, reporting and paying of payroll taxes according to the law.
The payroll software should streamline your reporting process. Your payroll system should be able to support your employee’s work alignment, working hours and reporting. Tasks of recording employee check in and check out, leave request, leaves applicable, weekly or monthly alerts to the employees etc. should be easily handled by your accounting payroll software.
Calculating deductions is an important feature that should be present in your payroll software. Deductions for employee taxes, membership, insurance etc. should be automatically done by your payroll. Your payroll software should protect all the confidential details of your employees’, company’s payroll setup and for that, a sophisticated accounting payroll software is needed to protect the data from hackers.
Your software should support filing and printing of various tax forms of central, state and local offices. Tasks like the generation of payslips, tax file declarations, bank statements, superannuation and salary details should be easily handled by your payroll software.
The Payroll function calculates the amount of superannuation you need to pay on behalf of your employees, but on occurrences the figure calculated might appear to be incorrect or in fact, not even calculate at all. SapphireOne ERP Accounting Software guides you through the areas you need to check, and how to adjust over- or under-paid superannuation amounts.
Companies have now realised the importance of payroll software and it’s advantages over the slow and laborious manual payroll system. Companies are looking for payroll software that is simple to use, provides technical support, needs less training, cost-effective and that is built-in for their industry.
For a sneak peek at the full capabilities ERP, CRM, Accounting Software, Human Resources, Payroll, Assets and Document Management, check out SapphireOne and request a live demo, it is everything you’ll ever need to make your company management a success.
October 30, 2017 1:38 pm | by Loren
Creating a budget is essential for running your business more efficiently. SapphireOne ERP Accounting Software has a simple-to-use and power budgeting tool that is designed to create budgets for small, medium and large sized businesses. It gives you a clearer picture of day-to-day operations. It will help you with maintaining your cashflow efficiently.
Budgeting is Essential in Business
Whether you run a small medium or large sized business, managing your finances efficiently is absolutely critical to operate your business. A good business budgeting system helps you to identify where to spend your money and where savings can be made. That is where budgeting comes in.
Budgeting will assist you with predicting your company’s income and expenses. Business Budgeting will help you identify months when your business is doing well, when your business is slower and when you have more expenses so you can organise your finances.
Budgeting helps identify when you need to save cash or organise some funding to make sure that your business’s cash flow is balanced at all times. If you have accurate financial information, you know where you stand at any given point in time. That is where SapphireOne budgeting tool makes a real difference. It can assist to boost and maintain your business’s profitability.
Manage your business’s budgeting with SapphireOne ERP Accounting Software
With the budgeting tool included in SapphireOne ERP and Accounting Software, you can:
- Know where your business budgeting is heading
- Ease administrative burdens, leading to reduce operating costs
- Get the data you need to set and measure realistic goals
- Analyse past performance and predict your business or organisation’s future
- Get detailed information about all your budget elements, such as cost or expense, resource and income or revenue plans
SapphireOne ERP Accounting Software’s budgeting tool will help you to save on your business’s spending and organise funding when necessary to keep cash flow moving in the right direction. It also helps you to plan a well-structured budget to keep track of your company’s performance against targets you have set yearly or even monthly and weekly.
While a spreadsheet can be a way to budget and a simple-to-use tool to use for budgeting, a good Accounting Software takes much less time and effort to organise a well-structured budget. SapphireOne budgeting tool can export data to an Excel spreadsheet as well as import data or financial information from a Excel spreadsheet. Our software will do all the calculations. It provides budget reports, graphs, charts and many other features.
What Makes SapphireOne budgeting software stand out from its competitors?
While money management or budgeting software typically comes in a stand-alone version, SapphireOne ERP Accounting Software is a complete package. It has a budgeting section that allows you to plan income and expenses on a weekly, monthly and yearly basis. SapphireOne is the complete business, ERP, CRM, and accounting software package. There are no additional bolt on modules, so you get everything.
SapphireOne is an established ERP software vendor that specialises in providing Financial Management System for any enterprise. It can be integrated into the existing financial information architecture, and can provide maximum security, while giving the opportunity for real-time access to information.
SapphireOne financial software is highly-scalable, and supports unlimited users concurrently. It includes all standard features in both Sapphire single user and SapphireOne client server for managing financial systems.
Budgeting features of SapphireOne enables you to manage and maintain your cash flow based on the accurate information regarding your expenses, income, payroll and financial situation.
Here are some ways SapphireOne’s budgeting system can help your business:
- Shows expenses and income month by month
- Organises detailed yearly profit and loss statements
- Identifies where your money is going
- Keeps track of your day-to-day spending
- Maintains cash flow efficiently
- Makes sure you stay on top of all your cash
- Keeps better track of your expenses and income each month so you can better manage cash flow
- Keeps track of your company’s performance against targets
- Job Project budgets
- Revised budgets at GL and Job Project level
Whether you have a small, medium or large sized business, a good budgeting system is designed to help you spend and save both safely and wisely. Discover how SapphireOne ERP, CRM and Business Accounting software suite can help your business by requesting a live demo today.