Payroll processing which primarily includes activities like salary computations, Income Tax calculations, management of leaves and claims management is primarily the responsibility of the finance or the HR team with in an organization. Also information disbursement relating to employee leaves, reimbursements processing and payroll has been traditionally been done via email or excels by the same department. However as companies diversify, go multi-location and employs thousands of employees manual disbursement of this information becomes tedious and is error prone.
Online modules today being an integral part of good payroll software gives power to employees to view relevant information they need without bothering finance or the HR division. Online modules can be categorized into 3 major components
a. Personnel Information Portal
b. Leave Tracking System
c. Reimbursement Management
The Personnel Information Portal is a central repository of all information which needs to be viewed and shared by employees with in an organization. Employees can view information relating to PF balance, loan, balance, TDS worksheets and more. The employees can print payslips which other wise is mailed by the finance or HR. Also the Personnel Information Portal is a collaborative tool where employees can share information, HR policies can be uploaded which can be accessed and viewed by all employees. Also important documents like corporate presentations and training material can be uploaded which can be accessed by relevant employees or teams as per access rights granted.
• Easy access to relevant information with a click online
• Improves co-ordination and collaboration between teams and departments
• Reduce dependency on paper and other manual methods like excels and mails to share information
• Access rights and security ensures availability of data to authorized personnel
Leave Tracking System allows employees to keep track of their leaves, apply for leaves, get online approvals or rejections of the same and receive MIS reports on leave balances online. The user can log in to the system and can view the status of leaves approved or rejected. Managers can approve leaves online and can keep track of the frequency at which leaves are taken by their respective teams. Online alerts and notifications ensure nothing is missed or left unattended.
The Reimbursement module employees to manage and submit their reimbursements and claims online and also provide managers with an online option for approval. Employees can view details of his claims and check the status real time.
Online Modules of a payroll software extends relevant payroll related information to employees, managers and teams which enables them to perform important tasks and activities which ensures that payroll processing runs smoothly at the same time making sure that cost consuming activities are curtailed leading to a more efficient HR/ Finance