Table of Contents
As business owners, most of you will agree the satisfaction that comes with every employee being paid on time is an unparalleled one. Payroll processing is definitely one of the most crucial yet still underrated business functions.
That being said, is your payroll processing the best there is?
For most growing businesses, it almost always boils down to doing everything manually. Members of the HR team and the founder/business owner need to track attendance and calculate salaries based on leaves taken.
Not to mention salary calculation involves taxes and other compliances which is a time-consuming task just by itself.
Salary disbursement which is the biggest disbursement for any business is also not a smooth process by any means. Unless you have a 20 member strong team, banks will not let you open salary accounts for your employees.
Even if you do have salary accounts, then tons of paperwork, a signed cheque of the equivalent of total salary amount, etc. are needed along with precious hours lost in doing all of this – before the salary is disbursed.
Does it sound complicated, tiring, and all too familiar?
Then it’s time for you to consider switching to a payroll solution that understands your needs.
Introducing Open Payroll
Built for businesses of all sizes – and loved by HR & Finance teams alike, Open Payroll helps your business to organize and fast track payroll – so you and your teams can focus on more important things – like growing your business.
In a nutshell, it takes away the need to manually track attendance and leaves and automates the calculation and processing of salaries.
The best part? It is 100% compliant with statutory requirements.
Let’s dive a little bit deeper into this!
How does Open Payroll simplify salary processing?
Easy attendance management
With the clock-in and clock-out feature of Open Payroll, you’ll easily be able to track employee attendance. You can also upload an excel file if you have been maintaining one for the same. Open Payroll adjusts the salary automatically without any need to undertake extra tasks.
Smart leave and holiday management
No need to manually manage all the leave requests. You can now track and approve leave requests (paid or unpaid) from the portal itself. You can even configure the entire employee leave and holiday calendar on the payroll system.
One-click payslip generation
You will be able to run monthly employee payroll based on the salary structure you have configured for every employee. This will give you a clear idea of how much salary needs to be paid to each employee along with the required TDS amount and other deductions.
On Open Payroll, payslips are generated automatically which are 100% statutory compliant so you can move away from the fear of penalties.
Direct salary and TDS payments
One of the most important features of Open Payroll is that it comes as a part of Open’s online bank account. So not only you can calculate the amount of salary and TDS that needs to be paid but you can easily disburse the amount from your Open account directly without the need to login to a separate account.
Generate important reports
You don’t have to spend days in the year-end reconciliations. Open Payroll does it for you on the go. Get important HR reports like attendance reports, leave reports, payslip reports in addition to the statutory reports.
Employee self-service portal
With Open Payroll, your employees can clock-in and clock out by themselves, apply leaves, declare taxes, access their payslips, form 16, declare previous income, and more – in turn helping you create a highly organized and efficient structure.
But wait! There’s more.
Manage the complete life cycle of employees
Every time you have a new joinee, you can onboard them in just a few clicks by filling up simple details like name, employee code, gender, email ID, etc. Once onboarded, manage an employee’s complete life cycle in your organization which includes tracking of promotion, changes in the manager or team, and even till their resignations for full and final payment.
Designed to be highly intuitive, Open Payroll takes away all the time-consuming and redundant tasks and makes your payroll processing a simple and smooth affair!
So, what’s the wait for? Sign up on Open today and start processing salaries the better way!
Related Articles –