Time And Attendance And Payroll Solutions For Small Businesses

How affordable and reliable is a time and attendance management system

? That is a concern often articulated by SMEs and retailers looking for return on investment (ROI).

There are several issues to consider when choosing a payroll system that is integrated with a time and attendance management software. Besides the cost factor there is also the requirement for employee time for reviewing of the system, selection, implementation and training. All these add on to the expenses along with the investment for the hardware and software. Most often smaller businesses and retailers use a time clock system which may include a basic time and attendance component. When investing in an employee time and attendance system, one that is difficult and complicated to use is not the preferred option, most often. It is recommended that a business with 10 or more employees should invest in a time and attendance management software system and as the business grows the system is in sync with the growth and the addition of more employees.

A well detailed out attendance and leave management system can take care of the concerns of small businesses. An efficient time and attendance and payroll management solution has excellent features such as

Easy to manage time and attendance, time off requests, and process payroll

Feature rich, user friendly cloud based online timesheets

Smart e-mail notifications for timely timesheet submissions/approvals

Easily to manage time of part-time, full time, exempt and non-exempt employees

Configurable accrual policies and overtime rules

Time and attendance software can also be used to standardize the way a small company handles the calculation and processing of its payroll. This can be used not just to calculate money due to employees, but can also provide valuable information to make record-keeping processes more efficient, in the organization. Essentially, such payroll or time attendance software can help in streamlining the entire process, making the task of processing payroll less time consuming and cumbersome.

There are many types of time and attendance software to choose from. Some software packages allow users to print checks or pay employees via direct deposit. And some are even capable of interacting with human resource files, allowing the user to move forward with payroll tasks without entering vital human resource information into the new application.

Time and Attendance software can be used to make quick work of calculating necessary legal or company compliance deductions. Instead of doing such calculations by hand and risking unfortunate errors, the user can allow the program to handle the math.

by: Lakshmi

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