With the increasing amount of documentation required to be filed by payroll, you would be surprised at how many hours you spend on work that is not necessary. Having a payroll software is necessary if your business depends on employee files, vacation and sick reports, and meeting other statutory requirements like taxes and pensions. You will save a lot of time and money with this in the long run. Here are some of the advantages of going paperless with your payroll:
Just like social media scheduling apps, a payroll software can help with scheduling your payroll for the month and even for the year! When you schedule your payroll, payments are done automatically at the same time every month, and you no longer have to scramble around trying to get your employees paid before payday.
This means that you do not have to worry about manually entering employee data like; net income, pensions, allowances, etc, into all the right fields on each employee’s paycheck all the time, as with a payroll software system, all that information is simply imported from your company’s records portal into the payroll software portal. The payroll software then helps to calculate your employee salaries and pay them according to your set pay dates. There are various payroll software that you can choose from but we highly recommend Ropay payroll software. Ropay helps you automate your payroll and in addition, helps to reverse calculate net income salaries automatically; all you have to do is input the gross pay!
2. Mobile Access
While many payroll software programs are designed to be used on computers and laptops, payroll apps allow you to access your business account from your mobile devices such as smartphones or tablets. With a mobile app, it’s easy to access your payroll information from anywhere at any time. You can update or check balances on the go, which is convenient for organisations that work off-site or out of the office during the day. Ropay even allows for multiple admins on a business account, so you can add a trusted person, i.e your payroll specialist or accountant to manage the account, and also get to monitor the account from your end as well.
You can’t always be at your desk when it comes down to processing payroll, so having access to payroll information anywhere at any time through a mobile app makes a great deal of sense. You’ll be able to access employee information from anywhere so there’s no need for constant communication between employees or managers about who has made what payments or when they were supposed to be made. This also means that employees won’t have to wait until Monday morning before they can receive their net pay, especially when payday falls on a weekend. Instead, you can pay your employees at any time and any day of the week, never leaving them stranded whenever payday falls on a weekend or a public holiday.
3. Risk reduction
If you’re using a payroll software, there’s no chance of losing or accidentally deleting documents or files. The program will keep track of all your documents and ensure that they are always available for use or access. This means you can be rest assured that any information you need to know is always accessible.
Properly and carefully scripted payroll software are also secure due to the access controls and encryption protocols, so you do not have to worry about data security issues. With Ropay, you can easily download account statements for future reference and information tracking. Also with Ropay’s statutory compliance feature, you have nothing to worry about when it comes to abiding by tax and pension laws provided by your country.
4. Productivity boost
A paperless payroll system will help to increase productivity in the office. Calculating payroll manually is so stressful and time-consuming. It could take a whole day to even a week to get completed, which prevents you from having the time to attend to other tasks. However, with a payroll software, you can get all the work done in minutes, giving you the time to attend to other important tasks, and helping you to achieve a whole lot more.
A good payroll software system will also ensure consistency in the early payment of employee salaries, which will serve as motivation and encouragement to them to perform better at their tasks, improving productivity.
5. Efficiency gains
Using a paperless system will help to save money on supplies such as record sheets, envelopes, and pens, while also reducing waste by eliminating the need for waste baskets and shredders used in processing payrolls manually using pen-and-paper methods. It will also help reduce printing costs by automating processes so that employees don’t have to follow up with paperwork. Paper is expensive to purchase and dispose of, so it’s advisable to be paperless when possible.
In addition, do you know that when you go paperless, you are saving hundreds of trees and reducing your carbon footprint? We all know that paper is gotten from the bark of trees, meaning that trees have to be cut down for them to be produced. When trees are cut down, the store of carbon dioxide in these trees and in the soil is reduced, and this carbon is released into the atmosphere. And when these papers have been manufactured, used, and disposed of, they turn into carbon dioxide or methane gases.
Excess carbon in the atmosphere is dangerous to the atmosphere. It causes climate change by trapping heat, making the air temperature rise, and making water vapour go up, which amplifies greenhouse heating. In the long run, excess carbon dioxide in the atmosphere is a significant cause of global warming and should be prevented as much as possible. So, going paperless would definitely be a good contribution to the prevention of global warming, and to creating a more healthy environment.
As you can see, there are a number of reasons to go paperless with your payroll. The implementation of technology can be difficult and time-consuming, but the benefits are outstanding. Be sure that you run the numbers before making any decision, and find the right solution for you and your business.