The payroll management software is an automation tool through which companies can optimize their employee’s payroll process. Find out the essential features of top-tier solutions in detail!
It’s the month’s end, and your human resource and finance team is juggling to manage payroll with other tasks simultaneously. Doesn’t the situation sound familiar to you? It is indeed! But, as they say, there is no problem without a solution. The best way to overcome this challenge is to invest in Payroll Management Software Let’s discuss its meaning and key features in detail.
What Is Payroll Management Software?
A field employee payroll management software is an automation tool to simplify the entire payroll process. From compiling to processing the payroll, the software streamlines the complete process. The program simplifies every step of the payroll process, from compiling to processing. To determine an employee’s correct wage, it automatically pulls information about their attendance, leaves taken, reimbursements, and more. It auto-fetches the employee’s leaves, attendance, reimbursements, and more to calculate the accurate salary of employees.
How Does Payroll Management Software Work?
Just like you climb the stairs step-by-step, the payroll management system works in various steps. The entire process is described below:
- Collect Employee Data
The payroll management software maintains comprehensive employee details like total hours worked, attendance and leave overtime, and other remuneration and salary data.
- Time and Attendance Reporting
Further, the software records and monitors the accurate working hours, overtime, absenteeism and more efficiently despite department or shift differentiation. Additionally, the program accurately logs and tracks working hours, overtime, absenteeism, and more effectively in spite of department or shift differences.
- Calculate Salaries
The system calculates the accurate salary after considering all the employees’ details it has maintained for the month. The payroll management software maintains comprehensive employee details like total hours worked, attendance and leave overtime, and other remuneration and salary data.
- Gross Pay Deductions
A field employee payroll management software determines the remuneration after considering full-day leaves, and time off requests, and halfway to calculating the precise salary of employees.
- Record Keeping
Once the above process is complete, the software maintains in-depth summaries of payroll transactions and employee earnings. This also includes the complete breakdown of salary components. A field employee payroll management software determines the remuneration after considering full-day leaves, and time off requests, and halfway to calculating the precise salary of employees.
Features of Top Tier Payroll Management Software
Every organization must consider their unique needs before investing in advanced technology. When it comes to payroll management software, you can choose TrackoField’s payroll management system. Payroll management software is an automated application that helps businesses streamline the payroll process for their employees. Learn all about the key components of premium solutions! The features offered by them can meet your unique business needs. Some of these features are as follows:
- Attendance and Leave Management
TrackoField’s payroll management software collects employees’ data including total working days, hours, holidays, and leaves automatically from the attendance and leave management solution integrated with it. Additionally, the management can use the software to create custom leaves as per their company’s leave policy. Above all, the software is really helpful for reviewing and editing timesheets.
- Payroll Processing
With TrackoField’s field employee payroll management software, your HR team can calculate employee salaries with a single click. How? It enables you to define the employee salary, create overtime payout guidelines, and define other benefits or deductions within the software. Thereafter, the software will calculate the gross pay for each employee based on the commands provided by you automatically.
- Salary Invoicing
The payroll management software will help the HRs save their time by creating manual salary slips for field employees. It auto-creates accurate salary invoices with a proper breakup that covers the actual work hours, salary or hourly rates, and claims (if any). The best part of the software is that it reduces the risk of manual errors and ensures transparency among both the employer and the employee.
Other benefits of choosing TrackoField’s Field force management software are:
- Seamless data migration
- Location-based employee Gps Tracking Software
- Employee expense monitoring
- Integration with work scheduling tool
- Detailed reporting
- User-friendly interface
- Mobile-friendly tool
Aren’t these features exciting enough to try the software? Indeed they are, huh? So, don’t wait any longer. Get a free trial now!
Conclusion
Besides sales and marketing, there are many other workflows and processes involved in the business. One such is the employees’ payroll! To streamline this process, every company must purchase payroll management software. It is an automation tool that fetches the details and calculates the salary without any manual involvement. To determine an employee’s correct wage, it automatically pulls information about their attendance, leaves taken, reimbursements, and more. It auto-fetches the employee’s leaves, attendance, reimbursements, and more to calculate the accurate salary of employees.
TrackoField is a top tier field employee payroll management software for businesses. It can expedite your company’s payroll process up to 2x. Book your demo to try it now!
