Whether it’s a small setup with a finite workforce or a large enterprise with a comparatively high and substantially increasing number of employees, you need to pay attention to payroll. Although payroll involves cutting a few checks, efficient payroll management helps an organization properly pay its employees and remain compliant with government regulations. NAVDPayRoll, a customizable HRMS and PayRoll solution, is all equipped to automate, streamline, and drive technology enhancement across all functions of PayRoll Management.
Key Functions of PayRoll Management
With the deployment of NAVDPayRoll, you can verify salary and hourly rates while accounting for regular and overtime hours. It helps you adjust additional compensation in the form of vacation time, holiday pay, and other factors that you can set in the system.
Another part of processing paychecks is applying any necessary deductions. By leveraging the elemental capabilities of this HRMS solution, you can efficiently manage an employee’s federal income tax and adjust deductions in case he has opted for the company’s group health insurance and other such services.
Payment of PayRoll Taxes is one of the most critical functions of PayRoll Management, which failing to do so can cost high to the company. More often, a single mistake can levy heavy penalties on the organizations.
Payroll managers can make the most of this cloud-native solution to analyze all the factors across determining tax deductions, including regional regulations in different geographies. For instance, the Indian Payroll Process necessitates perfect calculation and timely payment of payroll taxes.
Here, an automated Payroll solution helps simplify the complexities of tax calculations and accounts. Business leaders can complete various forms related to payroll tax documentation and enable accurate and timely filing of the tax returns while meeting all the compliance requirements.
Efficient and robust PayRoll management includes recordkeeping.
These records may include:
NAVDPayRoll enables HR professionals to automate all such functions and ensure all the documents are stored electronically to check in on a business anytime.
By leveraging the core capabilities of this inventively orchestrated PayRoll solution, you can help you employees get access to key payroll and personal information, such as:
Moreover, HR professionals can make the most of this Payroll Management Module to generate reports such as salary statements, salary benefits, and leave summaries. This Reporting feature helps improve the payroll accounting system, allocate resources, create budgets, and manage over time with the least hassle.
Simplifying Payroll Management with NAVDPayRoll
Undoubtedly Payroll is a tedious, tiresome, and time-consuming process. 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, we can help you effectively manage payroll and stay compliant. Being an acclaimed Microsoft Partner, 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 requirements and steer distinguishing accomplishment across employee management.