How do employee self-service portals help in managing payroll issues

Traditionally, payroll functions within organizations operate like a black-box. The only thing that comes out for employees are payslips and tax reports (apart from salary credits, of course & issue of cheques in some traditional companies). Today, with the availability of online employee self-service portals for payroll, this process is getting a lot more transparent (yet secure & authenticated). This is an important factor to consider, when choosing a vendor for payroll outsourcing.

employee self-service portal

employee self-service portal

With individual logins to the online employee self-service portals, employees are now able to access their digital payslips, tax reports and a lot more 24*7. This is very convenient for employees, as they do not need to depend on their HR teams for every small requirement (related to payroll reports)

Here are some of the known benefits of having a fully functional online web portal for payroll

1) View/Access/Print payslips - Employees today need their payslip for a variety of reasons including opening of Bank accounts, applying for credit cards, applying for different types of loans, Visa applications etc. Requesting for a copy of the payslip from HR department every time tends to be a lengthy process. The online access helps solve this problem completely.

2) Making their own tax declarations - Several times, payroll teams make errors in tax computations purely because they have not factored the employee tax declaration appropriately (data entry errors). By giving the power of the declaration to employees via their logins, employees can be sure that their tax declarations are submitted right.

3) Grievance Management - With online payroll portals,provided by payroll outsourcing vendors like Paysquare it is possible to manage employee grievances via email. This offline process helps employees a lot, as they don’t need to leave their desks to take up their grievances with the HR/payroll teams. Typically resolutions happen over email and pretty quickly.

Paysquare, with its web based myPayroll™portal provides secure logins to employees.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare 

For more details about how payroll processing with Paysquare helps you,click here 

Regards,

Atul

sales@paysquare.com

Twitter @PaysquareIndia

How organizations can avoid the payroll related tax mess

April/May is the time frame when most organizations tell their employees to make payroll related tax declarations for the entire financial year. Organizations typically use paper based manual forms to have employees submit their tax declarations. These forms are then manually uploaded to the payroll master and then factored for any tax calculations including tax deductions that need to be done on a monthly basis.

The entire process is prone to errors as there are several manual steps involved.  The end result may end up to be very unfavorable for the employees as well as the organization. Excessive tax deductions are irreversible and employees will need to seek refund while filing their Income Tax at the end of the financial year.

Payroll related tax mess

Payroll related tax mess

Disgruntled employees will bad-mouth the organization in social forums and if their grievances are not addressed in a reasonable time frame  this may also lead to loss of productivity at work.

Also typically this process is not one-time. Employees revise their tax declarations at different times in the year, adding to complexities.

At Paysquare, we address this challenge rather uniquely. Employees make payroll related tax declarations online at our self service portal myPayroll. These declarations then get automatically considered while the final payroll file is prepared. If there are updates to the tax declaration, only the most recent file is considered.

Since there is trace ability and a clear audit trail within the system, all declarations can be easily linked to individual employee logins. Also since there is a good level of automation, errors, while making entries are eliminated. Across our client engagements, we have seen payroll tax related grievances come down significantly, once our myPayroll system goes live at the client site.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records. Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you,click here

Regards,

Atul

sales@paysquare.com

Twitter @PaysquareIndia

Why SMEs should seriously consider payroll outsourcing

SME’s typically operate with multi-skilled and multi-tasking teams that are ready to go the distance to meet the organization requirements. Creating a specialized payroll team becomes expensive and cumbersome to manage. Even if they do create a payroll team, it involves too much supervision and eats up a lot of management bandwidth. Also non-compliance to regulations can be very expensive for the SME. Because of all of these factors, they should consider payroll outsourcing

Why SMEs should do payroll outsourcing

Why SMEs should do payroll outsourcing

 

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

Improve your margins with payroll outsourcing

You may have used several avenues to improve your company margins. Ever wondered, how much difference, motivated employees can bring to your company margins?

Improve your margins with payroll outsourcing

Improve your margins with payroll outsourcing

Payroll is one of the most important hygiene factors for every employee. It is one of the prime reasons, why they continue to work. Errors in payroll and tax computation can cause anxiety and dissatisfaction among a lot of employees. This tends to impact productivity at work and eventually starts affecting company performance.

With payroll outsourcing managed by Paysquare, errors in payroll become a thing of the past and employee productivity can never be any better.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records.Paysquare offers a host of benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

Handling confidentiality in payroll, think payroll outsourcing!

Organizations strive to keep payroll information confidential in order to avoid employee conflicts and to maintain a proper work environment. Information leaks can lead to loss of productive time for the employee concerned and significant loss of HR branding value for the organization, because of the negative word of mouth communication.

silent payzones and the advantages of payroll outsourcing

silent payzones and the advantages of payroll outsourcing

With payroll managed in-house, it is difficult to keep employees from mingling with the payroll staff and sneak away with insider information. Organizations create special secure zones for payroll processing, but find it difficult to restrict the distribution of sensitive payroll information. This creates significant rift in employees and HR teams have a tough time doing re-conciliation of salary data.

Payroll outsourcing eliminates this problem in totality. With payroll being managed, at a completely remote location, and by a team that is no way connected to the employees, leaks in confidential data are almost eliminated.

Paysquare has been focused on payroll outsourcing for over a decade now and processes over 100,000 monthly payroll records. Apart from confidentiality, Paysquare does offer a host of other benefits with its managed payroll services.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

Does payroll software help in solving your payroll challenges? Time to think about professional managed payroll services

A lot of HR teams within organizations feel that automation and tools are the eternal answers that will help solve all the payroll problems. Companies invest in purchase of payroll software only to realize that their challenges get multiplied instead of being solved by such a decision.  What are the reasons then and how do you fix these?

payroll software vs managed payroll services

payroll software vs managed payroll services

Software customization – The payroll software that you buy is usually generic. Most often, you will need to customize it to meet your requirements. Your vendor may do some tweaking, to achieve the sale, but may not necessarily support the ongoing customization requirements subsequently.  This creates the requirements for developing customizing resources in-house. (which may not be such a good idea?)

Updates & Upgrade path – Most software vendors will provide you with updates free as a part of their first year AMC. You will need to pay for these updates from the 2nd year. Any unauthorized customizations will create problems for auto-updates and will need support from the vendor (at what price?). The product will soon be launched in a newer version and you may need to upgrade your version to continue meeting your requirements. Have you considered these update and upgrade issues while making your software purchase?

Changes in HR rules & policies – HR  Rules and policies change so often, how can you manage to keep configuring them in the software. Typically users will be accounting professionals and you will need to go back to the vendor to do these additional configurations in the software.

Paysquare has been focused on payroll outsourcing for over a decade now. With payroll outsourcing/ professional managed payroll services, the software comes to you free, as long as you continue to use our services. You do not need to worry about maintenance, updates, upgrades, customization or configuration. Our professionals will take care of you so that you can continue to focus on your business. Now isn’t that music to your ears?

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare.

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com | Twitter – @PaysquareIndia

Employee relations simplified with efficiently managed payroll services

Ask any HR heads and you will realize that one of the most difficult elements of employee relations is managing compensation & benefits related to the employees. Our customers tell us that almost 60-70% of the queries received by the HR dept relate to some elements of payroll and compensation. Getting payroll right is a basic requirement, while getting it wrong creates a series of problems.

Better employee relations with efficiently managed payroll services

Better employee relations with efficiently managed payroll services

To retain employees, employers have to resort to a series of measures. Getting their payroll right is an absolute must. Wrongly managed payroll services leads to dis-satisfaction among employees. In-house payroll processing has indeed become a tough job.

Outsourcing payroll to a vendor who can deliver consistent, error-free operations in managed payroll services with highest degree of automation seems to be the best way out.

Paysquare offers high degree of automation with its powerful back-end payroll engine ‘Precision’ and also offers web based login to individual employees with  ‘myPayroll’. These ensure hassle free operations and are extremely user friendly.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare  

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

 

Why is domain knowledge important, when you are selecting your payroll outsourcing vendor

Different companies have varied requirements in payroll. for e.g. capabilities required to process payroll for knowledge workers may be very different than those required to process payroll for workers in a large manufacturing set-up. The heads in payroll will also vary significantly from company to company based on their HR policies and guidelines.

Domain knowledge needed in payroll outsourcing

Domain knowledge needed in payroll outsourcing

Challenges involved in these different kinds of payroll scenarios are very different and it makes sense to have a vendor, who not only understands these challenges, but has already managed them successfully in several similar past engagements.

When companies outsource payroll, they definitely do not want to be considered as training ground for managing their kind of payroll challenges.They always look for vendors that have past experience and domain knowledge for e.g. companies in IT sector will prefer to work with payroll outsourcing firms, which have already handled payroll in other IT companies. The prior experience helps in relating to the problems and issues in the IT domain.

Paysquare has been focused on the payroll outsourcing business exclusively for over a decade now. Through its engagements, over the years, it has strong domain knowledge in a large number of industries. In fact Paysquare has captured much of this domain knowledge in their back-end payroll engine ‘Precision’ . As a part of their managed payroll services engagements, Paysquare makes ‘Precision’ available to its clients FREE of cost.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare  

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

 

How employees making tax declarations through web based payroll helps in reducing payroll errors

One of the most important parts in payroll processing is tax computation for employees. This can get quite tricky, as excess tax deductions can result in several conflicts. Traditionally, all organizations ask their employees to make a declaration regarding their investments (to save tax).

online tax declaration using web based payroll software

online tax declaration using web based payroll

In most organizations, this process remains manual and paper based. When these inputs are being factored during  payroll processing, errors often creep in and effectively ruin the tax calculations made.

Wrong computation of taxes can lead to higher tax deductions and lesser net pay to employees. It is not an easy process to reverse this, as the employee then has to apply to the Income Tax department to request a refund of the excess payment.This can usually be a lengthy and time-consuming process.

Enabling employees to directly make declarations themselves regarding their investments seems to be the best approach. This ensures that there are no errors in data transfer or manual data entry. The employees also take full responsibility for the declaration that they have made. It is possible to log transactions made by the employee, so that there are no conflicts.

Paysquare, with its web based payroll ‘myPayroll’ provides secure logins to employees. Through these logins, employees can directly go and update their tax declarations at any time. Their latest declaration is always considered while processing payroll. This declaration can also be changed anytime and the impact of this reflects on the tax deductions in the following payroll cycle.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare  

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia

The importance of running an error free payroll

In all organizations running payroll is a time-consuming, yet absolutely critical monthly activity. Payroll needs to be run on time, and needs to be error free. If an organization does not pay its employees on time or runs payroll with several discrepancies, then it creates a lot of negative branding.

Running an error free payroll

Errors in Payroll processing

The amount of damage that this can cause, by purely word of mouth communication is unimaginable. Organizations strive to make sure that such instances never arise.

To ensure timely and error-free payroll, organizations often end up building redundant systems, processes and manpower. However since these activities tend to be highly manual in nature, errors do creep in. The errors could be related to wrong computation of flexi-pay options, not correctly factoring IT declarations, updating wrong figures for attendance & leaves or just purely wrong Income tax computations.

These errors can lead to significant employee de-motivation and significant loss of productivity, especially for the person affected.

Running payroll using a time-tested & proven process framework, with a high degree of automation seems to be the right answer to avoid these situations.

Paysquare offers managed payroll services with accuracy levels exceeding 99.4% across its engagements. This is made possible because of its rich experience in managing payroll and a high degree of automation enabled by Precision, its back end payroll engine. A web based myPayoll makes sure that employees themselves make their IT declarations 642-902 exam and there is no chance of any errors in recording and factoring these declarations while processing payroll.

Click the links to find more details about Managed Payroll services and payroll outsourcing services from Paysquare  

For more details about how payroll processing with Paysquare helps you, click here 

Regards,

Atul

sales@paysquare.com

Twitter – @PaysquareIndia