Managing the payroll for hundreds of employees in an organisation can be quite hectic for company administration, especially towards the end of the month. In fact, payroll management and the accurate calculation of employee dues can be one of the most complex parts of corporate accounting.
Apart from ensuring everyone is duly paid by the end of the month, payroll officials also need to be on top of company calculations regarding tax exemptions, salary deductions and monetary calculation of other benefits. Filing taxes with the income tax department on behalf of the employees also sometimes falls under the purview of payroll administration.
Fortunately, there are a lot of online and offline software solutions and payroll tools which can automate most part of these calculations. While most payroll courses cover at least five to six online payroll tools in their curriculums, you need to learn them in your own time if they aren’t covered in your course.
Read this blog to explore some of the best payroll management tools available today.
What are the best payroll tools or software that can rule the market in 2022?
Investing in a state-of-the-art payroll tool can address your payroll administration issues quickly and reduce the time taken for payroll operations. Here are the most savvy and popular payroll software that you can choose from in 2022.
- OnPay: This tool offers a great end-to-end payroll solution for businesses of all sizes. It’s a capable tool that offers value-for-money tools like Document Vault, insurance planning for employees and strong third-party application integration. The tool also allows you to retain the details of older employees for record-keeping purposes.
- Gusto: Gusto is one of the newer kids on the block that is popular despite its novelty. The platform offers cutting-edge SaaS offerings and an easy-to-use interface that provides a hassle-free user experience. The tool can also be programmed to handle many essential administrative duties.
- SurePayroll: If you own a small-sized business or have a new start-up, you should bank on SurePayroll for your payroll management needs. You can get the latest version that is compliant with the newest compliance updates at a highly discounted price. The platform is renowned for its in-depth bookkeeping services and fast payroll processing capabilities.
Other effective and mainstream tools include Square Payroll, QuickBooks Payroll, Xero, Wave, Zenefits, Intuit Enhanced Payroll and ADP Workforce Now.
All these tools have their own sets of benefits and disadvantages. It can take some time and trial and error to find the right payroll software for your company.
Taking the time to explore different payroll management tools and choosing the right one can help senior management save a lot of administrative time and effort and rededicate it towards growing the company. Good payroll management courses always cover the top-trending tools in the market to keep your payroll skills relevant in the sector.
Start looking for a suitable payroll management course today to become a successful and capable payroll management corporate professional in the future.