What is Payroll Software?
‘Payroll Software’ is a kind of software which helps the HR in undertaking the payroll tasks effectively with accuracy. It aids the HR with all payroll relevant functions such as calculating the individual employee salaries, developing their payslips, removing the statutory deductions, disbursing the salary in the predefined format, generating the payroll reports, etc.
In order to ease the process of salary disbursement, HR software generally includes a payroll module. This makes it easy to make real time changes in the payroll details as per the changes in the HR software which makes it seamless for the HR while also making the payroll process error-free.
Modern payroll software services are provided via cloud-based subscription model as it makes the process of implementing, updating and maintaining the software simple and easy.