Doing your payroll is one of the most challenging tasks, some may think that it is not that much, but the truth is, payroll has a lot of facets that are too complex and intricate. It takes long hours and even days to complete, especially for SMEs.
If you still are not convinced, here are the telltale signs that you need to replace your manual payroll system with an online payroll system:
1. Your payout comes late
There should not be a problem if your payout comes out to be released a little later than scheduled. However, your employees are already working hard every day, and a late payout is a red flag. To your people, you might be perceived as having financial troubles or that their needs do not come off as important to you. Whereas, you are only having a hard time finalizing everything in an Excel sheet. So, don't let this happen, migrate to an online payroll system now.
2. Your payroll officer is faulty
To clear this up, it would not be his/her fault to mix up things and get tired once in a while. A manual payroll system is not easy to handle, especially when you have to manually export timesheets and notes. Aside from computing each payout, your payroll officer would also have to collaborate with your compliance officers to finish everything, and by and by, this could get exhausting, and your payroll officer can start having faults at work. Don't let this happen, shift to a payroll software in the Philippines now.
3. You shell more for payroll
It is something very crucial if you feel like your payroll computation is larger than the sum of your projected budget. There must be something wrong. Had you tried to check the excel sheet, formulas, process, and budget, it would take a lot of time and chances are you would not figure out where it went wrong until it is too late. With an online payroll system, you would not have to worry about these things. It is automated and so, no amount of money would trickle down to places that it should not.
4. You are handling your payroll
We mentioned that doing manual payroll is hard, especially for SMEs, but if you are a startup or small business owner and you are doing your payroll for now. It is the best time to acquire payroll software; not only that it would allow you to focus on your operations, but also, it could be a good start for your future endeavours.
Now that you know these signs, it is time you make the change. Visit our website for more online payroll services in the Philippines.
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