Payroll

How to do Payroll on Sage If you are a Sage user, you might be wondering whether Sage accounting software can help with manage your employee payroll computation. Preparing payroll computations can be grueling especially when you make such calculations on spreadsheets. Employees are becoming more demanding and they want to know the nitty details of how their salary and taxes are accounted. Tax authorities also demand for these records. Having to search for several spreadsheet computations could affect whether an additional assessment is imposed on you. Sage Business Cloud Payroll Shop now Automating your payroll records using Sage Payroll Software If you use an accounting software or ERP software, automating your payroll can be made effective when your payroll computations are properly integrated with your Sage accounting software. There are ways in which automating your payroll software process can help improve your employee record history and operational processes: 1. Manage Calendar processes Using a Sage payroll software can help your company track staff leave applications, staff absences, and overtime. When multiple staff go on leave concurrently, the absence of your employees can affect your company’s operations and impact your ability to deliver towards customers. Calendar management can be done using a payroll software that would help aggregate staff information and enable companies carefully plan for their operations. 2. Storage of employee records Using a payroll software can help companies manage employee records digitally rather than keeping physical files of staff. It also allows you to retain records of employees that are currently in your office and those that have left. This is essential for a company’s history and for regulatory purposes. Tax authorities regularly conduct tax audits for prior financial years. A company that fails to keep its employee records can affect the level of tax exposure that the authority can impose on you, despite having an history of tax payments. 3. Issuance of employee payslips If you have multiple employees, preparing payslips on spreadsheets and printing for staff monthly can become exhaustive. A payroll software can help you to automate your payslip creation process. After finalising your payroll computations for a period, payslips are easily generated and sent to either employee emails, printed, or uploaded to an employee self-service platform at the click of a button. With an automated payslip system, employees can also preview their payslips, and make complaints or enquiries where necessary. 4. Preparing statutory reports Sage Payroll Software has been created to assist HR and Payroll professionals prepare statutory reports seamlessly. Depending on your country and state, regulatory requirements are usually different. It is important that your returns are prepared before deadlines to prevent any potential tax exposures from the tax authorities. To prevent any hassle, you can use a payroll software that is statutorily inclined to your tax jurisdiction. For example, in Nigeria, statutory reports like Form H1, Pension forms such as EPPCOS, National Social Insurance and Trust Fund (NSITF) returns, and Industrial Training Fund (ITF) returns, should be easily automated for filing purposes on your software. This can however be done from a payroll software through the data collected from the multiple employee sources. 5. Analytics Using a payroll software allows you to get real time data of staff payroll costs, employee trends such as leave breaks, absenteeism, overtime, employee and company contributions to statutory costs such as taxes and pensions. Companies can make prompt decisions from payroll data, and evaluate salary structures, tax information, and other regulatory information. A payroll software with intelligence and data analytics capabilities help companies make meaningful and informed decisions towards better employee planning and strategies. One major benefit companies enjoy while using a payroll software is the ease of managing staff seamlessly. Payroll computations can be done in an automated manner using a payroll software. Sage has a wide range of payroll software solutions depending on the size of the business. Sage Business Cloud Payroll is used by small businesses. Sage Pastel Payroll and HR and Sage 300 People are used by multiple medium and large businesses. To learn more about other Sage software, click here. Recent Posts

Payroll Software: Top 10 Benefits A payroll software application is an indispensable tool for organisations and payroll teams. It allows employers, users, and employees to perform various functions that help to ease payroll processing. There are numerous benefits of using a payroll software in your business. Here is a list of benefits you enjoy when you use a payroll. Sage Business Cloud Payroll Shop now 1. Avoid Errors Using a payroll software can help your business to achieve better accuracy in calculating payroll figures. A payroll mistake can lead to unbudgeted liabilities and grievances from staff. With the right payroll solution, it is difficult to make mistakes. Getting a right payroll software would help to improve your credibility with your employees and prevent unwanted errors. 2. Automated Payslips A payroll software can help your team to generate simple and automated payslips with available templates for your selection. Pay slips can be provided to employees through auto-generated emails or by hand through prints. This helps your business to save much time in creating payslips. 3. Employee Calendar With a payroll software solution, you can track employee leave, staff absences, and overtime. This allows you to manage your employee calendar and reduce stoppages in operations. Your employee attendance would reflect on the level of your business operations. A payroll software helps you to prevent unnecessary downtimes by planning your employee calendar properly. 4. Security A payroll software provides your company with layered security whereby employees records are protected without the interference of a third party. User access permissions can also be created to define what a particular employee can access on the software. Payroll information should be kept in a confidential manner. A payroll software can help to allay fears of leaking employee information to a wrong party. 5. Cost effective Managing your payroll internally can be cost effective when done with a payroll software. A payroll software relieves you of outsourcing your payroll functions. With an easy to use payroll software, staff payroll can be computed easily, hence saving you costs and getting results quickly and effectively. You can also reduce the cost of printing pay slips on paper and creating hard cover files or documents. 6. Tax Updates Keeping up with tax laws can be overwhelming sometimes. Payroll software are usually updated once with new tax updates. This makes you up to date with tax legislations and helps you to prevent any potential liabilities or tax exposures. 7. Meet Submission deadlines A payroll software can help your team to manage submission deadlines and ensure that you are compliant with your tax submissions. With your payroll software, you can easily generate return submission templates and employee return information. This allows you to keep track of the deadlines and submit returns before tax submission deadlines. 8. Decision Making Payroll software is a top tool that can help any organisation make strategic decsisions about staff welfare and planning. Information and reports extracted from software can be used to make informed decisions in the organisation. 9. Real time information HR and Payroll Managers can access a real time record of employees that are available in the office through a check-in or check-out system. They also obtain other personal information from the software in a prompt manner. 10. Promotes transparency Employees constantly want to be informed about their earnings. Payroll software help employers to be transparent and provide payroll information to employees. With your payroll software, you can provide employees access to their earning information in an open manner.  One major benefit companies enjoy while using a payroll software is the ease of managing staff seamlessly. Payroll computations can be done in an automated manner using a payroll software. Sage has a wide range of payroll software solutions depending on the size of the business. Sage Business Cloud Payroll is used by small businesses. Sage Pastel Payroll and HR and Sage 300 People are used by multiple medium and large businesses. To learn more about other Sage software, click here. Recent Posts