Payroll and HR functions are distinctive but intertwined. In most companies, payroll deals with compensating employees and human resources take care of employee relations. Despite having distinctive roles in an organization, they share some common functions to ensure an organization’s success. NAVDPayRoll renders extensive integration of human resources and payroll to automate updating, reduce the redundancy of manual intervention, and delivering consolidated reports.
NAVDPayRoll is an extensively orchestrated HRMS and PayRoll software solution to help a business manage all the functions involved across these two verticals efficiently. 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.
Before we explore the key capabilities of NAVDPayRoll, let’s understand
What is the function of Payroll?
- In general, Payroll refers to the process by which employees receive their salary.
- It includes balancing and reconciling payroll data, depositing & reporting taxes, takes care of wage deductions, and verifies the reliability of pay data.
- Also, Payroll professionals are responsible for calculating reimbursements, bonuses, overtime, and holiday pay.
What is the Function of Human Resources?
- The human resource department aims at workplace management within the organization and helps bring out the best in employees.
- The primary function involves attracting and hiring the right candidate for the right job, thus contributes to the success of the organization extensively.
- Also, HR professionals ensure that the chosen candidate meet organization’s expectation and keep the employees motivated employees through holiday or midyear bonus awards and salary increments.
- Moreover, HR functions involve developing training programs to help the workforce enhance their skills and improve their KPAs.
A Comparative Outlook
|Enters new hires/terminate employees||Verifies new hires/terminate employees|
|Enters benefit deductions||Verifies benefit deductions|
|Processes salary/rate changes||Verifies salary/ rate changes|
|Verifies employee’s addresses for year-end||Processes payroll and/or special payouts|
|Processes tax and direct deposit changes||Sends timesheet reminder to employees|
Overlapping of HR and Payroll
Many functions of Payroll are related to Human Resources and vice-versa.
- Salary increment
- Benefit deductions
- Vacation and Leaves
- Firing employees
Payroll receives timesheets and works with HR to solve time issues. On the other hand, HR uses Personnel Action Form to notify Payroll of bonuses and payouts owed to the employees. The Payroll and HR departments are cognizant of confidential employee data, including financial information, social security numbers, and home addresses.
Essentially, payroll is number-driven and calls for knowledge of tax laws and accounting. However, in many organizations, payroll functions are considered a function of HR because it pays and deals with people. In such a case, leveraging the core capabilities of this inventive HRMS and Payroll solution can help synchronize both the functions and ensure greater transparency within the organization without impediments.
A Quick Sneak Peek of NAVDPAYROLL
- Mandates with HR Compliance and help HR managers create profiles, keep the records, add bonuses, and prompt post payments efficiently.
- Includes automatically up-to-date Tax Tables to help HR and Payroll professionals meet complex regulatory compliance.
- Comes with built-in bank integration and bank-grade security to help a company pay its employees electronically and with security.
- Renders extensive, standard reports, custom, and ad-hoc reporting.
- Delivers support for all types of Salary Structure
- Auto-generated Pay Slip to the Self-Service Center
Many small setups may not have an HR department to deal with the responsibilities and liabilities of payroll management. In such cases, NAVDPayRoll is the one-stop solution that lets you take a rest from payroll on your own. Furthermore, large enterprises can 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.