What is Payroll Software?
Payroll software is the one which computes the employee salaries every month. The employee may be paid by hourly rate / daily rate/ monthly fixed salary. The employee may have some additions and deductions in every month like overtime pay, daily allowances, advance payment, medical claim, special allowance, etc… And the employee unpaid leave, lateness & early leaving pay needs to be deducted from his salary.
Every month the payroll software should able to generate the pay slip for the employees. And payroll software must have useful management reports like, Monthly Salary Summary Report, Overtime Payment Report, Taxation Report, Yearly Summary Report, and Monthly Reconciliation Report.
And different countries have their own computation for taxation & provident funds. So the payroll system should comply with the local government regulation for salary calculation.
Payroll for Singapore:
Payroll in Singapore country should be complying with Singapore government regulations as below.
CPF - CENTRAL PROVIDENT FUND:
An employee who is Singaporean / permanent resident of Singapore must contribute CPF to the CPF board. The CPF amount comprises of employer & employee contribution. There are different percentage of calculation based on the employee salary and age. The information can be found in CPF BOARD website.
Ethnic Funds: (SINDA / CDAC / MBMF / ECF):
Based on the employee ethnic group there is a need of ethnic fund needs to be contributed by the employee. This contribution amount will be deducted from the employee salary every month and this fund directly goes to the relevant ethnic group welfare. The ethnic funds are SINDA (for Indians) CDAC (for Chinese), MBMF (for Malays), ECF (for Eurasians). The contribution amount will vary depends on the employee salary. The information can be found at the relevant ethnic group web sites.
SDL- (SKILL DEVELOPMENT LEVY):
This levy must be paid for all the employees working in Singapore. Currently the SDL is 0.25% for salary up to S$4500 (as of 2010). This amount must be paid by the employer to the SDL board. The SDL board uses this fund to provide subsidy for employees training programs / upgrade skills, etc… Usually there are many training courses will be run by SDL approved vendors. A company can able to get up to 90% subsidy from SDL board while the company sends their employees for training.
FWL- (FOREIGN WORKERS LEVY):
This levy must be paid by employer for the foreign workers working in their company based on the worker skill level. Currently (as of 2010) LOW / MEDIUM /HIGH levels of levy need to be paid by the employer. The levy amount can be found from the FWL website.
Income Tax:
Based on the employee salary, income taxes are needed to be paid by the employee. Currently Singapore income tax board makes mandatory condition that the employer must submit their employee’s yearly income details to the income tax board directly which is called auto inclusion. There are various forms like IR8A, IR21, IR8S, APPENDIX-A needs to be submitted based on the requirement.
National Service:
It is mandatory that the all eligible Singaporean & permanent resident must go for the national service on request. During the national service period the employee salary will be paid by the government (MINDEF – Ministry of Defense) and the relevant CPF must be paid by the employer.
Leaves – (Annual Leave, Medical Leave, Child care Leave, Maternity Leave):
There are certain types of leaves mandatorily provided as employee’s benefit. Like annual leave (7 days), Medical Leave (14 days), Child care Leave (6 days for Singaporean & 2 days for non Singaporean), Maternity leave (60 days)
Payroll Software for Singapore:
Payroll software suitable for Singapore should have all the above features built-in. In addition to that a good payroll software for Singapore should have the below additional features.
Remainders:
There are many foreigners working in Singapore. Those foreigners having work permit pass / employment pass / professional pass. Usually this passes is valid for certain years. So the payroll software should show the remainders when it is due.
Online Bank GIRO:
For employee salaries Writing cheques / paying cash are very outdated. The payroll software should able to generate the interface file to the banks with their employees’ salary details. Then the bank can directly credit their salaries to their account.
Multi Company:
There are companies having subsidiaries as well. So the payroll software should be capable to create multiple companies records in the system and the reports must be separated accordingly.
Concurrent Multi User Access & User Rights:
Payroll is always in-charged by the HR department and there may be more than one HR user accessing the system. And company bosses also want to access the system directly without always depend on the HR executive reports. So the payroll software should have concurrent multi accessing capabilities with different access rights.
Backup & Restore
Audit Trial – To monitor the changes done by other users
Reports like 1. Payroll Summary report, 2. Year to Date Summary Report, 3. Overtime Summary Report, 4. Reconciliation / Salary comparison Report, 5. Allowance / Deduction Report, 6. Custom Report Writer to generate the reports needed by the user.
Conclusion:
Singapore Government insists to have all kind of employee related transaction like income tax, provident fund, ethnic fund contribution, Skill Development Levy, Foreign Workers Levy, etc… via online rather than paper / manual. Also as per government law a company should keep all those payroll records at least for 7 years for audit checking.
It is very difficult to do all those kind of calculation & transaction by manual and keep all the papers.
It becomes mandatory than important to have the payroll software in any company for efficient & accurate payroll processing
Resources:
Payroll | Payroll Software | Payroll System | HR Software | HR System | Singapore Payroll
Payroll - Payroll Software System integrated with Biometric time recorder, Time Attendance, Payroll, and HR software's
Payroll Software System | Fingerprint Time Recorder | Fingerprint Time Attendance | Fingerprint Door Access Control
Friday, October 1, 2010
Biometric / Fingerprint time recorder to monitor the employee attendance for efficient Payroll Processing
Introduction:
In any company it is very important to monitor the employee’s attendance for accurate payroll & discipline.
In older days companies are using manual punch card to record the employee’s attendance. In punch card machine employees can easily do the proxy attendance for others. Especially in the companies where there is more overtime involved it is very critical to record the employees IN & OUT time accurately.
Also at the end of the month the payroll officer need to calculate the daily overtime day by day for all the employees. It is very time consuming and lot of manual errors may happen.
Fingerprint Time Recorder:
It is very efficient to have a fingerprint time recorders to track the employees attendance instead of having manual punch card. The biggest advantage of using the fingerprint system is the employees can’t do the buddy punching (making proxy attendance for other employees).
Usually in most of the fingerprint time recorder, Up to 3 fingers per employee can be registered. While doing attendance the employee can use any one of the finger to do clocking. The purpose of registering 3 fingerprints is, if any one finger has problem due to injured / cut / dirty then the employee can use alternative finger. So it is better to have a fingerprint time recorder with higher capacity. Usually the time recorder will have the capacity of 1500 / 3000 / 5000 fingerprint templates.
It takes about one second to verify the employee finger, once verified the employee id, Date & time will be recorded into the device internal memory. Also it is good to have a device which can store more records. In general most of the fingerprint time recorder can store 20,000 / 30,000 / 50,000 records. Once the records reach the limit the new record will automatically overwrite the very first record. Those records can be downloaded to the Time Attendance Software via built-in Network card or via Thumb Drive.
Time Attendance Software:
Information from fingerprint time recorder can be transferred to the Time Attendance Software which will calculate the useful information like Lateness, Overtime, allowances, etc...
Usually the time attendance software will have the option to create multiple shift patterns like morning shift, afternoon shift, night shift, etc...
Good software should come with nicely designed useful reports like Daily attendance report, Individual attendance report, consolidated reports which consolidates the late comers, Early Leavers, Absents & missed out punching, Lateness summary report and Working hour’s summary report.
The working hour summary report usually will have the monthly lateness, early leaving & overtime worked by the employees. This summary report is very much good enough to calculate the employees overtime pay together with the salary.
Conclusion:
It is good to have a biometric time recorder for employee attendance monitoring which enables fast & efficient payroll calculation.
Resources:
Biometric Time Recorder | Biometric Time Attendance | Biometric Door Access | Biometric Access Control
Biometric Door Access | Biometric Access Control | Biometric Time Recorder | Biometric Attendance
Fingerprint Time Recorder | Fingerprint Time Attendance | Fingerprint Door Access | Fingerprint Access Control
In any company it is very important to monitor the employee’s attendance for accurate payroll & discipline.
In older days companies are using manual punch card to record the employee’s attendance. In punch card machine employees can easily do the proxy attendance for others. Especially in the companies where there is more overtime involved it is very critical to record the employees IN & OUT time accurately.
Also at the end of the month the payroll officer need to calculate the daily overtime day by day for all the employees. It is very time consuming and lot of manual errors may happen.
Fingerprint Time Recorder:
It is very efficient to have a fingerprint time recorders to track the employees attendance instead of having manual punch card. The biggest advantage of using the fingerprint system is the employees can’t do the buddy punching (making proxy attendance for other employees).
Usually in most of the fingerprint time recorder, Up to 3 fingers per employee can be registered. While doing attendance the employee can use any one of the finger to do clocking. The purpose of registering 3 fingerprints is, if any one finger has problem due to injured / cut / dirty then the employee can use alternative finger. So it is better to have a fingerprint time recorder with higher capacity. Usually the time recorder will have the capacity of 1500 / 3000 / 5000 fingerprint templates.
It takes about one second to verify the employee finger, once verified the employee id, Date & time will be recorded into the device internal memory. Also it is good to have a device which can store more records. In general most of the fingerprint time recorder can store 20,000 / 30,000 / 50,000 records. Once the records reach the limit the new record will automatically overwrite the very first record. Those records can be downloaded to the Time Attendance Software via built-in Network card or via Thumb Drive.
Time Attendance Software:
Information from fingerprint time recorder can be transferred to the Time Attendance Software which will calculate the useful information like Lateness, Overtime, allowances, etc...
Usually the time attendance software will have the option to create multiple shift patterns like morning shift, afternoon shift, night shift, etc...
Good software should come with nicely designed useful reports like Daily attendance report, Individual attendance report, consolidated reports which consolidates the late comers, Early Leavers, Absents & missed out punching, Lateness summary report and Working hour’s summary report.
The working hour summary report usually will have the monthly lateness, early leaving & overtime worked by the employees. This summary report is very much good enough to calculate the employees overtime pay together with the salary.
Conclusion:
It is good to have a biometric time recorder for employee attendance monitoring which enables fast & efficient payroll calculation.
Resources:
Biometric Time Recorder | Biometric Time Attendance | Biometric Door Access | Biometric Access Control
Biometric Door Access | Biometric Access Control | Biometric Time Recorder | Biometric Attendance
Fingerprint Time Recorder | Fingerprint Time Attendance | Fingerprint Door Access | Fingerprint Access Control
Wednesday, July 28, 2010
Integrated HR Solution with Payroll Software Leave, HR functions and Biometric Fingerprint time recorders for employee time attendance
Introduction:
Having a proper HR solution is a key task for the HR executives to manage their employees.
The primary job of HR manager is to manage employee’s daily attendance, i.e. the employee’s every day Time IN & Time OUT. There are various ways for it. Traditionally the companies using manual punch card machine, later proximity card system / barcode card system was in place. But still there was a problem of buddy punching (making proxy attendance for other employees). To address the issue Biometric Fingerprint system has introduced which is very fast / accurate & efficient.
Once employee’s TIME IN & OUT timing captured by any type of machine then it has to be linked to a Time Attendance Software to generate the useful attendance reports. Those calculated attendance details needs to be linked to payroll software for the employee salary calculation. In addition to that there is a need to maintain employee leaves like annual leave, medical leave, unpaid leave, etc…
If a HR manager has all the above solutions with different vendors / different platform then it will be very difficult to maintain and operate. There will be lot of hiccups to integrate the different software’s and more importantly being the database is not integrated the newly join / resign employee details need to be entered multiple times in different software’s.
So it very efficient and cost effective to have an integrated HR solution which comprises of fingerprint time recorders (preferably), time attendance, leave, Payroll & HR software’s.
Fingerprint Time Recorder:
It is very efficient to have a fingerprint time recorders to track the employees attendance instead of having manual punch card. The biggest advantage of using the fingerprint system is the employees can’t do the buddy punching (making proxy attendance for other employees).
Usually in most of the fingerprint time recorder, Up to 3 fingers per employee can be registered. While doing attendance the employee can use any one of the finger to do clocking. The purpose of registering 3 fingerprints is if any one finger has problem due to injured / cut / dirty then the employee can use alternative finger. So it is better to have a fingerprint time recorder with higher capacity. Usually the time recorder will have the capacity of 1500 / 3000 / 5000 fingerprint templates.
It takes about one second to verify the employee finger, once verified the employee id, Date & time will be recorder into the device internal memory. Also it is good to have a device which can store more records. In general most of the fingerprint time recorder can store 20,000 / 30,000 / 50,000 records. Once the records reach the limit the new record will automatically overwrite the very first record. Those records can be downloaded to the Time Attendance Software via built-in Network card or via Thumb Drive.
For more efficient fingerprint time recorder details please visit http://www.fingerprint.com.sg/ for details.
Time Attendance Software:
Information from fingerprint time recorder can be transferred to the Time Attendance Software which will calculate the useful information like Lateness, Overtime, allowances, etc...
A good time attendance software should have the option for different shift patterns, Supports unlimited rotation duty roster, Auto-shift feature (System auto-assign working hours group based on IN time), Flexible working hours feature, Scheduling working hour’s group feature (No fixed working pattern)
Companies are paying daily allowances like shift allowance, meal allowance, transport allowance to the employees based on some conditions. For an example a company may like to pay $5 for night shift workers or a company may like to pay $2 who is working more than 5 hours of overtime. So the time attendance software should have all the above features.
A good software should come with nicely designed useful reports like Daily attendance report, Individual attendance report, consolidated reports which consolidates the Late comers, Early Leavers, Absents & missed out punching, Lateness summary report and Working hour’s summary report
Payroll Software:
Payroll software is the one which computes the employee salaries. A well written payroll software should have the below options.
The employee may be paid by hourly rate / daily rate/ monthly fixed basis. Other than the employee basic salary, the employee’s overtime, daily allowances needs to be linked from the time attendance software. The employee may have some ad hoc additions or deductions like advance payment, medical claim, special allowance, etc… And the employee unpaid leave, lateness & early leaving needs to be deducted from his salary.
Different countries have their own computation for taxation & provident funds. So the payroll system should comply with the local government regulation for salary calculation.
Finally the payroll should able to generate a pay-slip for individual employee with all his salary details which can be printed in an A4 size paper or sealed pay-slip paper.
And payroll software must have useful reports like, Monthly Salary Summary Report, Overtime Payment Report, Taxation Report, Yearly Summary Report, and Monthly Reconciliation Report.
For an example, a payroll software in Singapore should have the below options. Calculation for PAY SLIP, SALARY ADDITIONS, DEDUCTIONS, MVC (MONTHLY VARIABLE COMPONENT), CPF, IR8A, IR21, BANK GIRO TRANSFER FOR ALL MAJOR BANKS, SDF (SKILL DEVELOPMENT FUND), FWL (FOREIGN WORKERS LEVY) , CDAC, SINDA, MBMF, etc…
More details of Singapore payroll software can be found in http://www.payroll-singapore.com.sg/
Leave Module:
A leave module either can be built in with the payroll system or it can be a separate Electronic Leave Application Portal.
Leave Module built-in with payroll system: The HR Executive needs to update the employees Annual Leave, Medical Leave, Unpaid Leave, Maternity Leave, etc in to the system manually.
Electronic Leave Module: The employee can apply their leaves electronically online via web browser. Those applied leaves can be approved by respective approving officers via online. This is paperless, convenient fast & easy.
A good leave system should have the option to set Leave Eligibility for different group of employees and the Annual leave & Medical Leave earned until today should be prorated automatically.
There must be an option to carry forward the balance annual leave to the next year. And the leave module should have the useful reports like Leave History & Leave consolidate report to view all kind of leaves taken.
Conclusion:
Instead of having the above system in different platform / with different vendors, having an integrated HR solution will be easier for maintenance & cost effective.
http://www.info-tech.com.sg/ for one database integrated solution for Biometric, Fingerprint systems with Time Attendance, Payroll, and HR software's
www.payroll-singapore.com.sg Payroll Software with Multi Company, Multi User and all Singapore payroll requirements like Payslip, CPF PAL, Bank Giro, IR8A, Leave Module with HR functions
www.fingerprint.com.sg Biometric Fingerprint readers for employee time attendance & Security Access control integrated with Time Attendance, Leave & Payroll Software
www.singaporepayroll.com – Bank GIRO, CPF online submission, IR8A online submission (auto inclusion), sealed pay slip, Leave system.
www.biometrics-fingerprints.com – Biometric Fingerprint time recorders for employee time attendance, Payroll & door access purpose.
Having a proper HR solution is a key task for the HR executives to manage their employees.
The primary job of HR manager is to manage employee’s daily attendance, i.e. the employee’s every day Time IN & Time OUT. There are various ways for it. Traditionally the companies using manual punch card machine, later proximity card system / barcode card system was in place. But still there was a problem of buddy punching (making proxy attendance for other employees). To address the issue Biometric Fingerprint system has introduced which is very fast / accurate & efficient.
Once employee’s TIME IN & OUT timing captured by any type of machine then it has to be linked to a Time Attendance Software to generate the useful attendance reports. Those calculated attendance details needs to be linked to payroll software for the employee salary calculation. In addition to that there is a need to maintain employee leaves like annual leave, medical leave, unpaid leave, etc…
If a HR manager has all the above solutions with different vendors / different platform then it will be very difficult to maintain and operate. There will be lot of hiccups to integrate the different software’s and more importantly being the database is not integrated the newly join / resign employee details need to be entered multiple times in different software’s.
So it very efficient and cost effective to have an integrated HR solution which comprises of fingerprint time recorders (preferably), time attendance, leave, Payroll & HR software’s.
Fingerprint Time Recorder:
It is very efficient to have a fingerprint time recorders to track the employees attendance instead of having manual punch card. The biggest advantage of using the fingerprint system is the employees can’t do the buddy punching (making proxy attendance for other employees).
Usually in most of the fingerprint time recorder, Up to 3 fingers per employee can be registered. While doing attendance the employee can use any one of the finger to do clocking. The purpose of registering 3 fingerprints is if any one finger has problem due to injured / cut / dirty then the employee can use alternative finger. So it is better to have a fingerprint time recorder with higher capacity. Usually the time recorder will have the capacity of 1500 / 3000 / 5000 fingerprint templates.
It takes about one second to verify the employee finger, once verified the employee id, Date & time will be recorder into the device internal memory. Also it is good to have a device which can store more records. In general most of the fingerprint time recorder can store 20,000 / 30,000 / 50,000 records. Once the records reach the limit the new record will automatically overwrite the very first record. Those records can be downloaded to the Time Attendance Software via built-in Network card or via Thumb Drive.
For more efficient fingerprint time recorder details please visit http://www.fingerprint.com.sg/ for details.
Time Attendance Software:
Information from fingerprint time recorder can be transferred to the Time Attendance Software which will calculate the useful information like Lateness, Overtime, allowances, etc...
A good time attendance software should have the option for different shift patterns, Supports unlimited rotation duty roster, Auto-shift feature (System auto-assign working hours group based on IN time), Flexible working hours feature, Scheduling working hour’s group feature (No fixed working pattern)
Companies are paying daily allowances like shift allowance, meal allowance, transport allowance to the employees based on some conditions. For an example a company may like to pay $5 for night shift workers or a company may like to pay $2 who is working more than 5 hours of overtime. So the time attendance software should have all the above features.
A good software should come with nicely designed useful reports like Daily attendance report, Individual attendance report, consolidated reports which consolidates the Late comers, Early Leavers, Absents & missed out punching, Lateness summary report and Working hour’s summary report
Payroll Software:
Payroll software is the one which computes the employee salaries. A well written payroll software should have the below options.
The employee may be paid by hourly rate / daily rate/ monthly fixed basis. Other than the employee basic salary, the employee’s overtime, daily allowances needs to be linked from the time attendance software. The employee may have some ad hoc additions or deductions like advance payment, medical claim, special allowance, etc… And the employee unpaid leave, lateness & early leaving needs to be deducted from his salary.
Different countries have their own computation for taxation & provident funds. So the payroll system should comply with the local government regulation for salary calculation.
Finally the payroll should able to generate a pay-slip for individual employee with all his salary details which can be printed in an A4 size paper or sealed pay-slip paper.
And payroll software must have useful reports like, Monthly Salary Summary Report, Overtime Payment Report, Taxation Report, Yearly Summary Report, and Monthly Reconciliation Report.
For an example, a payroll software in Singapore should have the below options. Calculation for PAY SLIP, SALARY ADDITIONS, DEDUCTIONS, MVC (MONTHLY VARIABLE COMPONENT), CPF, IR8A, IR21, BANK GIRO TRANSFER FOR ALL MAJOR BANKS, SDF (SKILL DEVELOPMENT FUND), FWL (FOREIGN WORKERS LEVY) , CDAC, SINDA, MBMF, etc…
More details of Singapore payroll software can be found in http://www.payroll-singapore.com.sg/
Leave Module:
A leave module either can be built in with the payroll system or it can be a separate Electronic Leave Application Portal.
Leave Module built-in with payroll system: The HR Executive needs to update the employees Annual Leave, Medical Leave, Unpaid Leave, Maternity Leave, etc in to the system manually.
Electronic Leave Module: The employee can apply their leaves electronically online via web browser. Those applied leaves can be approved by respective approving officers via online. This is paperless, convenient fast & easy.
A good leave system should have the option to set Leave Eligibility for different group of employees and the Annual leave & Medical Leave earned until today should be prorated automatically.
There must be an option to carry forward the balance annual leave to the next year. And the leave module should have the useful reports like Leave History & Leave consolidate report to view all kind of leaves taken.
Conclusion:
Instead of having the above system in different platform / with different vendors, having an integrated HR solution will be easier for maintenance & cost effective.
http://www.info-tech.com.sg/ for one database integrated solution for Biometric, Fingerprint systems with Time Attendance, Payroll, and HR software's
www.payroll-singapore.com.sg Payroll Software with Multi Company, Multi User and all Singapore payroll requirements like Payslip, CPF PAL, Bank Giro, IR8A, Leave Module with HR functions
www.fingerprint.com.sg Biometric Fingerprint readers for employee time attendance & Security Access control integrated with Time Attendance, Leave & Payroll Software
www.singaporepayroll.com – Bank GIRO, CPF online submission, IR8A online submission (auto inclusion), sealed pay slip, Leave system.
www.biometrics-fingerprints.com – Biometric Fingerprint time recorders for employee time attendance, Payroll & door access purpose.
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