PayMaster Cloud is developed by Endeavour Africa Limited, who has developed & distributed market leading Payroll Product “PayMaster”. If you’re spending most of your time on administration and falling behind on business critical work, then it’s time to move your business to the cloud. Paymaster is capable of processing payroll for both regular and casual employees. With paymaster one can do selective payroll processing per employee. All the taxations, benefits and contribution gets calculated and comes into effect immediately.
Every good Cloud based payroll software covers certain specific and main modules, and it is within these modules that the companies make changes to suit their individual needs. Some of the main modules that are a part of every online payroll software are as follows:
- Employee Profile: Under this module, details like the name and other information about the profile of every employee is stored. The date of joining of the employee, his or her family background, emergency contact details for the employees, awards and important memberships that the employee may hold in his name or in the name of his children or other family members, hobbies and other talents that the employee may possess, etc. The work profile of the employees like their position and job description in the company, qualification, experience and training details of the employees copy of documents submitted by the employees, etc.
- Leave Management: Under this module, the various types of leaves granted to employees are defined, records of leave applications, rules for granting leaves, balance leaves remaining in the account of each employee, copy of leave approvals, carry forwards of remaining leaves and complete MIS reports, are all maintained.
- Loan Management: The loan management module is a tool used in creation and modification of leaves. It facilitates setting up of loans through defining their interest rates and describing whether to be compounded or simple and whether to use fringe benefits.
- Saving Management: Saving management module is a tool designed to accommodate management of savings done through companies saving scheme. Once an employee is enrolled in a savings scheme, the first contribution becomes the opening balances. The interest rate define during the savings setup is earned and an optional contribution for that month can be specified. A withdrawal can also be considered and specified in the savings management.
- Payment & Deduction: Users can create Virtually Unlimited Payment/Deductions as per the needs.
- Statutory Compliant: Paymaster is approved by relevant tax authorities of Kenya, Uganda, Tanzania and other 6 African countries. All the Reports are Compatible to Latest Changes in Formats. System generates all the Statutory Reports on a Click of a Button. All the Statutory Reports are Online Tax Payer Software Compliant for online Submission.
What is Payroll?
Payroll is very important for all company, small, medium and large. Employees count on an uninterrupted flow of their earnings each period, and businesses are relying more heavily on online and cloud payroll software services to help them perform this mission-critical task. With such an important responsibility, it’s important to understand the groundwork and criteria that make up a reliable web-based or online payroll solution.
Why you should invest in a payroll software?
We are leaving in a fast-paced world. For every task we do manually, there sure is a better and easier way to do it with the help of technology. Bosses, clients, and peoples want output sooner rather than later. Cloud-based hr management software usually incorporates management of employee information including time and attendance, payroll and more. If you’re spending most of your time on administration and falling behind on business critical work, then it’s time to move your business to the cloud.
There are some big advantages to using cloud based software, for example, it removes the need to worry about backups and security of data. For smaller companies, keeping track of staff annual leave entitlements, sick leave and payslips can be a time-consuming exercise. Cloud-based payroll can save time and money.
Common Requirements in Payroll Software:
- processing payroll for both regular and casual employees
- Customizable Options
- Leave Management
- Strong Calculation Functions
- Loan Management
- High Security
- Comprehensive Reporting
- Support for Staff and Company
Benefits of getting a payroll system:
- Cost cutting
- Save time
- Avoid errors
- Privacy and security
- Tax compliance
- Customer service
The payroll department is not just a processing function which only ensures employees get their salaries on time, it is way beyond that. Payroll managers at multi-national organizations have to pay close attention to a variety of factors like local legislation and regulatory requirements – as well as be available to employees across various time zones. We all know HR has now moved into becoming a core business function, rather than just a separate function that deals with certain activities within an organization.
If you’re spending most of your time on administration and falling behind on business critical work, then it’s time to move your business to the cloud.
A cloud-based payroll system has many benefits that far outweigh any outdated legacy system you may still be using. Here are five reasons why your business should migrate sooner rather than later.
- Employee access to info
- Automatic updates and no back-ups required
- Improved transparency
- Easy integration with other systems
- Easier reporting
- The Software Is Exceptionally Secure
- Cloud Payroll Software Is Convenient
- This Payroll Software Is Scalable
- This Software Will Save You Money