Accounting Payroll software with all the functions that you need

March 12, 2018 11:27 am | by John Adams

Accounting payroll software streamline your reporting process
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

Compliance:

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.

Reporting:

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.

Deductions:

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.

Tax Calculations:

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.

Calculating Superannuation:

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.

10 Different Ways to Save Time and Money using Modern ERP Accounting Software

February 26, 2018 3:50 pm | by John Adams

Save Time and Money using Modern ERP Accounting and grow your business
Organisations look out for ways to improve their productivity, save time, save money and manage their overall business. Enterprise Resource Planning is a management tool that manages all data in the organisation. ERP in the recent times has been an important factor for the business growth. It streamlines the processes and improves the organisation’s performance. ERP Accounting Software has been utilised in various accounting tasks of payroll, inventory management, purchasing, sales etc. ERP Accounting Software saves a lot of time and money for the company.

How to save time and money using Modern ERP Accounting Software

Employees prefer mobile accessories over the age-old desktops. Availability of a modern ERP accounting software helps the employees to work from anywhere, for example they can generate electronic invoices on the go and save time.
Forecast the financial growth of your company effectively using ERP accounting software. Forecast your daily, monthly or annual sales. With the use of ERP accounting software, the employee can easily forecast the inventory needed based on the previous trends.
Retrieve information whenever you want, make real-time decisions and improve performance using ERP accounting software. Modern ERP Accounting has helped to integrate accounting software with smartphones and tablets making the data more accessible.
Cut your company’s operational costs using ERP, with the maintenance of data at a centralised place it helps in streamlining the functions of various departments in the organisation. Making your operations paperless will save you money.
Reduce the unnecessary costs that are involved due to delayed decisions using ERP accounting software. Don’t get delayed in tax filings, calculations etc.
Payslips, statements, invoice reports, maintenance bills etc. can be generated on the go with ERP, saving you lot of time and money.
ERP makes Account Management easy for the employees with readily available data. Improve the productivity of the employee using ERP, thereby improving the performance of your company.
Manage the inventory effectively and minimise your maintenance costs using accounting software.
Stay ahead of competitors using the ERP software. Manage the company’s audits, integrate with the government tax systems using ERP.
Protect your company’s confidential financial information and financial performance using ERP accounting software. It keeps all transactions safe by customised access to the company’s data.