Name: Qandle
Price: 99 INR
Rating: 5.0 (37 reviews)
Author: Qandle

What makes Qandle the best epayroll system?

Compensation structuring

Customize compensation policies and incentives by department, location, grade etc.

Flexi-pay

Set rules for flexi-pay components and let employees decide their own salary structures

Incentives and perquisites

Disburse perquisites, one-time payouts, bonuses, and commissions painlessly

Full and final

Qandle’s Full and Final Settlement automatically syncs all related data and auto-calculates FnF amounts

Error-free

Error-free payroll processing with tailored checks and data sync with all HR records

Checks and balances

Automatic checks to ensure errors which may be missed by the eye are caught

Attendance and leaves integration

Automatically sync with loss of pay data for effective processing

Corrections and arrears

Easy payment of arrears and corrections to previously run payrolls with a few clicks

Advanced analytics

Analyze the compensation numbers and slice-and-dice them however you need to

What is epayroll?

The term "epayroll" refers to a payroll that is processed electronically. This would entail going paperless and being environmentally conscious.” It would also include data entry, which is the step in the payroll process when you actually enter the hours or money that you're paying employees. The ability to do this in the cloud over the web is what distinguishes it as an epayroll procedure.The term "electronic payroll" is simply referred to as "epayroll." If the user opts for direct deposit or payment cards for their staff, the process can be paperless, green, and environmentally friendly. Epayroll, on the other hand, mostly refers to the data entering functions at the "front end" of the payroll process.

A paperless epayroll service's ideal user is tech-savvy and comfortable using and navigating an app on their tablet or PC. Many firms are choosing for required electronic pay structures as they see the economic benefits, savings, and enhanced efficiency of employing epayroll technology for their payroll procedures.

However, many wage payment rules at the state and local levels have not kept up with developments in payroll system technology, putting businesses at risk of legal issues. When shifting to a mandated epayroll procedure, all organisations must comply with appropriate federal and state legislation as well as necessary administrative guidelines.

Significance of an epayroll software

Payroll is a vital aspect of your business operations that you should not overlook. Your employees rely on you and your HR department to pay them appropriately and on time. Small business owners, on the other hand, may find it difficult to comprehend all of the complexities associated with payroll processing, let alone find the time to ensure it is done right. This is where the value of payroll software becomes apparent. An epayroll system can assist your firm in saving time, avoiding costly mistakes, and increasing efficiency. Epayroll software eliminates a lot of the guesswork and manpower involved in payroll processing.

Procedures are made easier.

EPayroll software will streamline procedures and allow your staff to complete payroll more quickly. Software simplifies every aspect of the payroll process, from data entry to direct transfer to payroll taxes. Many aspects of the process, including reporting, can be automated. You only have to set up the reports once and they will never need to be conducted manually again.

Better productivity.

Because software streamlines so many aspects of the payroll process, you'll actually enhance your team's productivity. When your human resources team isn't wasting time writing checks and preparing payroll reports, they can devote more time to their main responsibilities. Not only do these individuals gain individually, but the organisation as a whole as well. When more time is spent on innovative opportunities and solutions for your company's wider goals, less time is spent on monotonous duties.

Encourages development

Using a payroll system will help your firm develop in the long run. Automated reporting, for example, can show you how much your present personnel are costing you and where you might have budget space to hire more people. Your staff will be able to quickly onboard new workers thanks to a simple employee profile setup process. When it comes to processing paychecks, there isn't much time added to every extra team member. It only takes a few mouse clicks to get your entire workforce paid on time and accurately.

Aids in the elimination of human error

Another compelling argument to utilise an epayroll software is that it reduces human mistakes. It's easier to identify disparities with payroll software than it is with a traditional paper-based payroll system, whether it's due to a simple mistake or deliberate payroll fraud. You don't have to be concerned about your employees misreading letters or numbers, failing to deduct taxes, or skipping an employee by accident. Automated reports also emphasise what's going on each pay period, allowing you to know who's getting paid and what amounts are being deducted at a glance. This kind of visibility is critical for detecting data entry errors or fraud before they become a major issue.

Who benefits from anEpayroll Software?

Epayroll is particularly advantageous for a small business in a remote location because it eliminates the costs of traditional distribution by digitising all data entering. There's no need to spend money on a costly overnight courier service. Furthermore, an epayroll system would mandate that all employees use only direct deposit and electronic services. Any business of any size can benefit from an epayroll system. Whether you have all of your employees on-site or have personnel in several states, an epayroll solution will dramatically speed up and simplify the payroll process.

Steps involved in executing payroll

Onboarding employees

Businesses should onboard employees and prepare a list of employees to be paid as the first step in payroll processing.

Establish a payroll policy.

To ensure regular payroll execution, firms should create their policies and get them approved by management at this stage. Pay policies, leave and attendance policies, employee benefits policies, and so on are examples of these policies.

Collect employee feedback

For payroll processing, employee inputs such as PAN, address, bank account details, and so on are critical. Typically, the concerned teams collect these inputs from employees when they first join.

Work out the payroll.

The verified inputs are supplied into the system for payroll processing at this level. After correcting for applicable deductions and taxes due, net payment figures are produced. Spreadsheets are used to perform these calculations. As a result, reconciling and verifying the values to avoid any inaccuracies becomes challenging. Automated payroll software, on the other hand, might have reduced the chance of clerical or arithmetic errors.

Pay employees' salaries

Then, to make wage transfers, firms must guarantee that their bank account has sufficient funds. Following that, a salary bank advice statement is submitted to the relevant bank, instructing it to disburse salaries.

Advantages of using anEpayroll Software

Allow access 24 hours a day, seven days a week.

Either in-house or cloud-based technologies can help you streamline and optimise your payroll process. Direct access and cross-platform usability are overwhelmingly preferred by employees.

Improved Efficiencies in the payroll process.

While a company's payroll and HR management tasks do not typically produce income, they can considerably improve a company's bottom line by lowering expenses and labour costs. This can be accomplished primarily by implementing a paperless payment method. Increased accuracy, speed, security, and convenience can save you a lot of time and money.

Payroll data is now more secure than ever before.

Every business and individual is concerned about security. The threat of identity theft and commercial cyber-theft is on the rise, and firms may substantially reduce the chance of critical information being compromised by eliminating paper pay stubs. It is impossible to lose or copy a pay stub if it does not exist.

Convenience

Furthermore, an online system will give your employees the security and convenience of accessing their pay stubs from the comfort of their own homes. Having an online payroll system, as well as online reports, eliminates the possibility of lost documents.Reduction of Paper Waste

Reduction of paper waste

While eliminating all paper may still be a long way off for now, a large and significant reduction in paper use and waste paper accumulation can be achieved in a business with a green payroll system.

Features of a goodEPayroll software

Attendance Management.

All biometric devices are compatible. Attendance Management Software accepts data from excel files and generates reports intelligently.

Leave Management

A good ePayroll Software includes a Leave Management Module that allows you to establish several types of leave. These can be either paid or unpaid.

Online returns

Payroll software aids in the submission of online tax returns. Without any hassle, a PF ECR file can be generated directly from payroll software.

Employee Portal.

Employees can use Payroll's mobile ESS access to manage their leave, attendance, pay stubs, and reimbursements.

Listing of allowance heads

Parameters in payroll software are predefined in the system, but in rare circumstances, if a user feels he needs to define his own, they can.

Single click operations.

With a single click, payroll software may send emails, export data, and print reports. You can accomplish this at the branch and department levels.

Auto-backup and e-mailing

A help file, often known as an E-Book or a user's guide, is included with Epayroll and desktop payroll software.

Training management.

Users can make use of the training module to plan, schedule, and track training sessions.

Module for Recruiting

Requests from employees, approval of vacancies, downloading potential individuals' CVs, conducting tests, interviewing, and generating offer letters are all part of the recruitment process.

Performance management.

This is the procedure for improving an organization's overall performance inside a team.

Calculation of TDS

TDS is calculated automatically. The TDS applicability slab is predetermined and can be altered. Concessions offered by the government can also be set up.

Reporting

Payroll software offers a variety of reports, as well as the ability to export data to Excel for further formatting.

Control of access

An admin user is created by default in payroll software. The administrator has the ability to generate an unlimited number of user logins.

Epayroll system