Payroll systems involve managing everything with the process of paying employees and filing employment taxes. Business organizations use these systems to keep track of working hours, calculate wages, withhold taxes or deductions, deliver paychecks, and pay government employment taxes. NAVDPayRoll is an exclusively engineered HRMS and PayRoll solution to streamline such operations and assist business leaders in monitoring every strand through an integrated platform.
NAVDPayRoll helps a business manage payroll functions with reconciliation of payroll, built-in bank integration, up-to-date Tax Tables, standard reporting, and more. Interestingly, it can be procured by both the old and new customers of Dynamics NAV and Dynamics 365 Business Central handle their HR & Payroll simultaneously.
It is both a time-consuming and attention-demanding function that involves managing ongoing tasks, including changes to tax withholding, contribution, calculation of reimbursements, and payroll data verification. By leveraging the core capabilities of NAVDPayRoll, business leaders can come across automated processes, minimize redundancy of manual intervention, and keep their workforce motivated.
One can make the most of this robust solution at all the three Stages of the Payroll Process that include:-
- Establishing company’s policies including pay policy, leave & benefits policy, and attendance policy.
- Interacting with multiple departments to grab more access to important information like mid-year salary revisions and attendance data.
- Data collection is overwhelming; however, NAVDPayRoll offers extensive features like an employee self-service center, leave & attendance management to make the job easier.
- Validating payroll data to ensure no active employee has been missed and no inactive employee has been included in salary payment.
Actual Payroll Process
- Sending the input data into the payroll system to actually process the payroll. NAVDPayRoll generates net pay after adjusting necessary taxes and deductions automatically.
- Reconciling the values and verifying accuracy to avoid errors.
- Sending the deducted amount of EPF (Employee Provident Fund), TDS (Tax Deduction at Source), and ESI (Employee State Insurance) to the appropriate government agencies.
- Filing return reports and keeping a record of all the financial transactions for the payroll process.
- Entering all salary and reimbursement data accurately into company’s book of accounts. NAVDPayRoll helps ensure that the data is accurately entered into company’s accounting or ERP system as well.
- This payroll software solution helps deposit salaries directly into an employee’s bank account to avoid delays and enhance the payout system. Later, it would generate publish payslips, which your employees can access anytime.
- This extensive solution would extract the required information to share reports across department employee costs, location employee costs, finance, and management.
NAVDPayRoll is the one-stop solution that lets you take a rest from payroll on your own. Like most payroll system software, it is automatically updated when tax laws change and will alert employers when to file certain tax forms. Many companies outsource payroll administration by connecting to a certified Cloud Solution Provider, who can help ease the burden of PayRoll management.
Serving in cloud computing solutions for more than a decade and being an official Microsoft partner, we can help you effectively manage payroll, HR, and stay compliant. We have won many accolades for our exemplary services and assisted in maintaining business continuity across all our businesses even during the COVID-19 pandemic lockdown.
As we know that Dynamics NAV is now closed off to new businesses; SMBs looking to deploy Microsoft’s Cloud ERP solution can go for Dynamics 365 Business Central. Those who are already running on NAV will automatically be upgraded to Dynamics 365 Business Central. However, we exclusively present NAVDPayRoll to cater to all PayRoll and Human Resource requirements and steer distinguishing accomplishment across employee management.