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Reference Guide to Payroll Software Comparisons
Employee Files
The payroll application will not operate efficiently unless all parameters have been defined or set up. Features in this category cover typical setups, such as pay periods, deduction calculations, sick leave accrual basis, and so forth.
Human Resource (HR) Management
HR applications track detailed information for each employee. If users need to track educational qualifications, training, and other activities for employees, they probably require some form of HR application.
International Payroll Processing
If your organization has international offices and employees, you will require a payroll system that meets various international regulations. This category covers some of the more common requirements.
Data Input and Cost Distribution
Payroll information drives not just the production of payroll checks, but also the distribution of those costs to various departments and activities.
Payroll Check Writing
This category covers such features as flagging abnormal checks, voiding or reprinting selected checks, direct deposit, facsimile checks, and so on.
Control Reports
While you may choose to assume that information has been input correctly, that is not always the case. The features in this category address reports that give users the ability to check information to make sure it has been input correctly.
Financial Reports
Once data has been input into payroll, users will probably need to review slices of that data to determine if costs are in line, where costs are being incurred, and how those costs compare against other benchmarks.
About Accounting and ERP for SMB Systems
Accounting systems manage procedures for
accurately entering, tracking, and maintaining
information related to an organization's
financial operations. These accounting
applications typically support general ledger
(GL), accounts payable (A/P) and accounts
receivable (A/R), payroll, job and project
costing, and multinational accounting. Many
small to medium businesses (SMBs) require that
other functions (such as inventory control,
manufacturing management, and financial
reporting) also integrate with their accounting
system.
Accounting (ERP for SMB) Key Systems Benefits:
- Automate accounting processes
- Allow multiple users to work with financial data
- Implement well-defined procedures to decrease accounting errors
- Refine forecasting methodologies for improved production efficiency
- Determine costs based on output levels to improve pricing
- Improve order, inventory, and asset management
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