Best Payslip software
Finding the best Payslip Software for your business is now faster and easier! Compare prices, reviews, features, and get free consultation to find the perfect software.
A Payslip is a piece of paper provided to the employee at the end of the month along with the salary which consists of the salary record and tax deducted.
Payslip management is managed by the human resource department and is a complex process. With the large numbers of numerical calculations and statutory compliance requirements involved, it is always a tough task to generate the data right. Hence the need for a system or software that not only generates the data right but also calculates the numbers right. Payslip software manages and controls the entire payroll system on one user-friendly dashboard. It calculates and compiles all the relevant data in one place. Hence, the system is not only effective in terms of data management but also reduces risk and cost to improve efficiency and enhances data protection.
A Payslip software is either system based or cloud-based. The system based software is system-specific and is effective for small organizations. Whereas, a cloud-based payslip system is effective for large companies and can be accessed from anywhere. The cloud-based system helps companies manage and control the entire payroll process end to end on a secure cloud platform. The Payslip Software UK is most preferred and liked by the companies and SMEs for the ease of the process.
The payslip system helps automate, streamline, and centralize the payroll process. From calculating salary and taxes to managing employee attendance it accomplishes the various aspects of payroll with ease. It takes care of the following domains:
1. Payroll Management
Salaries are automatically calculated on a monthly basis. The Payslip software using its modules consolidated wages related factors such as attendance, salary grade, benefits, leaves reimbursements, etc. to calculate the wages. It can be customized too according to the multiple pay and benefits structure.
2. Leaves Management
The payslip software is user-friendly and allows the user to submit their application through its module. It records the employee’s leaves and the manager can review such requests as and when required. It also considers acquiring leaves for the salary calculation.
3. Income Tax and Deductions
This feature processes the pre and post-tax deductions. It takes into consideration various state and central government tax schemes and automatically calculates the salary based on the latest regulation.
It acts as a central repository of employee records and other related documents. It records and manages all the information of an employee, such as, offer letter, experience letter, employee profile, etc. and can be accessed as and when required.
With all the available options in the market, the task is to select the right payroll software for your business. With plenty of features in-built in the payroll software, we have curated the list of mandatory features payslip system should consist of so as to help you make a better decision.
1. Payroll Processing
The Payslip Software can be linked to the leave application software, attendance management software, or can be used as a standalone application. The software compiles the data and calculates the salary considering all the leaves, holidays, and other factors. It also helps with tax calculation based on the latest regulations.
2. Tax calculations and filing
With automated calculations, it reduces the risk of human error and fills in the tax forms based on employee’s payroll information available in the system. This removes the unwanted situation of submitting tax forms that consume the man-power and time of the HR management or the employee.
3. Integration with other software
As the business expands the payroll system gets more complex. With the number of employees in the organization, the requirement is to have the systems that take care of the multiple processes. With different software already in implementation with the company, the Payslip Software can be integrated and can be used to full advantage. The data can be utilized in cross-interaction of software and a meaningful information report can be generated.
A payslip system software does all the activities in a fraction of seconds and also ensures the accuracy of the data. The advantages of implementing a Payslip software are:
1. Ease of Use
Payslip management software is easy to implement and is configured with multiple options, features, policies, etc. All necessary inputs can be entered into the software manually and can be integrated with other software to retrieve the data. With just a click of a button, the data of the employee can be obtained as and when required.
2. Calculate Bonus, Holidays, Expenses with minimum effort
The software takes input from the user on the bonus, holidays, and expenses of the employee. Compiling all the data it calculates the salary and provides the bonus amount associated. It also takes into consideration the holidays and leaves and deducts the salary accordingly. This not only helps with accurate calculations but also saves the time of manual calculations.
3. Multiple Reports Generation
Besides calculating and generating the payslips, the organizations also require various reports on the updates on a timely basis. The Payslip software also helps in the generation of a report on a daily, weekly, monthly, and yearly basis. It provides the users with multiple reports, such as Reconciliation reports, ad-hoc and user-defined reports, customized payroll statements, MIS reports, etc.
4. Information Storage and Report Generation
With all the data stored in the system, it can be accessed by the user anytime and a report can be generated. The reports help management to have an in-depth analysis of the employee performance and store the annual reports secure and easy to access.
With all the listed benefits and features, it is preferable to get a full-fledged payslip software so as to have better security and available features. The generation of payslip and calculating employee’s salaries is a critical operation of any business. Hence to pay the employee on time and an accurate amount of their work is important. A good payslip system software helps to carry out the payment process with greater speed, efficiency, and confidence. The payslip software in UK is already an accepted concept and helped boost the process while saving time.
HMRC recognized QTAC Payroll payslip generator software provides an instant access to customer, vendor, and employee information. Available with web portal integration it has a user-friendly dashboard.
Tally.ERP 9 is a business accounting software for accounting, inventory, payroll management. It is economical and one of the most popular ERP software solutions available in the industry. You can download free version of Tally.ERP 9.
HRMantra is the World's most feature rich HR and Payroll software helping automate the most complicated of hire to retire HR processes easily using its CRORES of ready to use features. It saves 30 min per emp per day giving over 10 times ROI. 100% project success assured.
Keka is an employee experience platform. The only HR & Payroll software that is employee centric. Unlike traditional HR systems, they are a modern new generation platform focused on user experience and simplifying complex workflows. For any employee-centric company, managing the HR, Payroll, and Talent Management is the key activities.
It is one of the best cloud based payroll software for small business. It is designed to help organizations to manage their employee's data. This software also allows for easy calculation of the full and final settlements. It is user-friendly best payroll system that provides 100% accuracy. It delivers to high-quality software service on a 24 x 7 basis.
Accurate payroll, compliances & employee benefits for India in seconds. Customize CTC plans, Flexi-pay, & enable complete employee self-serve. Don’t spend a week every month on payroll anymore. Too good to be true? See for yourself but get ready to be blown away.
Saral PayPack offers you a comprehensive payroll software solution for all your payroll needs. It is a one-stop destination for your search as it possesses the most sought requirements of payroll management system. This is a right choice for automating your payroll.
Interbiz Solutions LLP. (formerly Intersoft), is a leader in providing solutions across the gamut of HRMS solutions. 850+ clients with over a lakh of employees successfully managed by our HRMS solutions.
We are a focussed HR solution provider for corporate. We offer end to end HR solution from recruitment to retirement covering entire employee life cycle in an organisation.
Zoho Payroll offers cloud-based payroll services for managing payroll solutions such as employee onboarding, payroll processing, employee self-service portal and adheres to statutory compliance. Try Zoho Payroll with our 30-day free trial.
An all in one HR Payslip software for India, Paybooks, configure the most complex policies and auto-sync the leave and payroll data. It manages everything from employee onboarding till exit in one place.
Gusto is the employee onboarding platform, offering payroll, benefits, HR tools, and world-class support for small businesses. With Gusto, it’s easy to take care of your team and grow your business all in one place.
Get real-time attendance updates, create timesheets, set approvals and eliminate errors with automatic data entry, Get insightful reports that help you stay ahead of problems, leave policies, in-time,out-time and the total number of hours worked will be calculated auto.
A Simple and reliable cloud payslip software, Perk Payroll is a secure, scalable and maintenance free software. It maintains and track record of employees and automates mundane tasks to increase productivity.
The software has been designed to lubricate the HR processes. It keeps a tab of entire information of an employee from the date of joining to his/her full and final disbursal at the time of leaving.
Create your own payroll heads and specify your own formulae with user-defined features of Lenvica Payslip Software. It supports multiple currencies & customizes the payslip to include the information manually.
Factorial Payslip software saves time by sending the employee's payslip through the smart payslip manager. It makes use of the highest safety standards to ensure the information remains confidential.
Opfin is an automated payroll service for small and medium-sized businesses in India. It calculates your payroll, pays employees and contractors, and also takes care of all compliance like TDS, PF, ESI and PT.
MakeMySalary delivers accurate & timely payroll to its clients. With experts onboard, we provide completely customizable solutions to fit into the client's requirement. We can help you streamline your payroll process & leave attendance management.
Generate Payslips with ease. Create your own organisation account, keep organisation & employee details handy. Generate payslips every month just providing total salary. Get payslips as PDF when you need it. Signup now.
SMART ADMIN is competitively priced, flexible, highly customizable, cloud-based subscription software for Payroll Management. Customizable Salary Components, Naming of Components, Linking Time sheet with Leave and Payroll make it Unique.
ClearBooks Payslip software is a new generation online payslip generator software that helps manage employee salary information online. It sends customized payslips and provides real-time salary information to HMRC.
With no unnecessary restrictions, Brightpay is a flexible payslip generator software & is capable of incorporating unlimited components for salary composition. It gives priority to the most common payroll tasks
Providing comprehensive and strategic human resource, Moneysoft Payslip software is value to money payslip software. With no hidden and additional cost involved the software comes with free Email support.
Xero Payslip software not only manages the tasks but also update accounts, creates HMRC submissions and tracks employee's working hours, manage leaves and process pay with controlled access for employees.