Payroll is an important thing for employees as well as the company because the company that perfectly and timely manages the payroll, then that company is considered very good and earns much reputation. Payroll is the total amount of wages to be paid to the employees by the company. It is a very complicated process but is very much important because it keeps your employees motivated and employees stay productive. You need to efficiently manage the payroll services and software like tally helps you very much to manage the payroll system of the company.
Previously payroll was only done manually and thus the companies used to hire people for managing the payroll but now the technology has advanced a lot and thus now you can find many softwares that handles payroll for the company and thus reduces the cost and the most reputed and useful software for payroll management is the Tally software. With the help of tally, you can effectively manage the payroll and can reduce your costs. In this blog, we will also tell you some of the important features of tally that helps very much in payroll management.
Payroll Management Features in Tally
- Payroll accounting and salary processing: With the help of tally you can manage employee payroll in a smart way. In tally prime software, you will find many predefined processes that enable error-free automation of the payroll process. Also, you can view and manage the processes in an easy way.
- Multiple employees grouping: In tally prime, you can classify employees on the basis of various different parameters like – job function, department, location, the position of the employee, etc. You can also define salary structure at the employee group level, with this you can apply the same salary structure for the same type of jobs or departments. So, you can get many options to design your salary structure.
- Flexible attendance/production types: Attendance is used to calculate the employee pay and track their presence and productivity at work. With the help of tally prime software, you can create multiple attendance types and leave types like – sick leaves, casual leaves, annual leaves, paid leaves, etc. Thus, you can create a flexible attendance type and multiple leaves types as per your companies rules and regulations. So, tally helps you very much in managing the payroll system.
- Statutory compliances: Tally prime provides you important statutory reports like provident fund, employee state insurances (ESI), professional tax, gratuity, income tax, etc. These all are some of the important laws regarding payroll and every company has to consider all these things while calculating the payroll of employees. Thus, tally provides you these important reports also.
- In conclusion, we would like to say that in this world of technology and automation, you should also move to modern ways to do your and your office work and the same thing goes with the payroll, with the help of tally, you can easily calculate payroll of all your employees in an effective way, so start using tally software in your company for payroll management.
We at Tally UAE are providing Tally software in Dubai, which is very useful for payroll services and other accounting and related functions of the business.