PayDay! SaaS vs Manual / Excel Payroll Calculation
Manual payroll calculations in Singapore become more difficult over time since there are more changes to payroll regulations. Payroll processing skill is a must and you need to update your payroll knowledge frequently to stay compliant. Thanks to cloud computing, technology now brings you more advantages to process payroll faster online with confidence anytime from anywhere called payroll software as a service (saas). And we name our payroll saas “PayDay! SaaS”. Our payroll experts have designed PayDay! SaaS to help you run your monthly payroll easily in minutes with zero Singapore payroll knowledge.
Payroll Knowledge
It is important that the payroll person-in-charge knows and understands the country’s payroll legislations. In Singapore, the government review and change payroll regulations regularly. For example, the CPF contribution rates for low-wage workers will be increased from 1 January 2014. As a result, private sector and government non-pensionable employees (including first and second year Singapore Permanent Residents) who are earning monthly wages of more than $50 to less than $1,500 will benefit from the changes. You have to keep track of the latest regulation updates once processing payroll manually. In contrast, PayDay! SaaS captures the legislation changes automatically behind the scene, so payroll calculations comply with the latest regulation changes. Therefore, you are worry-free about non-compliant payroll.
Accuracy
Manual calculations increase the chances of mistakes and it is inefficient if your business is expanding. To reduce the likelihood of mistakes, it may involve multiple times of payroll checking and/or an additional pair of eyes to go through the numbers. It is definitely time consuming! PayDay! SaaS is 100% accurate. Let PayDay! SaaS replace your manual calculator and you can focus more on your business matters.
Security and Confidentiality
Payroll must be confidential all the times. However, manual processing method may require payroll information to be passed around for checking and approval. In this case, confidentially is subjective. With PayDay! SaaS, only authorized personnel has the rights to login and process the monthly payroll. Furthermore, PayDay! SaaS data center is SSAE16 compliant and 128-bits SSL encryption technology is applied to ensure the best security for your data. Now, you can have a peace of mind when processing your payroll using PayDay!.
CPF, IRAS and Bank GIRO e-Submission Files
To business owners who process payroll themselves, form fillings are tiring, especially when it involves a larger number of employees. With PayDay! SaaS, this process is automated at a click. CPF, IR8A and GIRO e-submission files can be downloaded right after payroll has been processed.
You might also be thinking, “how can I use PayDay! SaaS to pay my employees?” PayDay! SaaS automatically generates your GIRO submission file which can be uploaded to your respective online banking portal.
You deserve a coffee break!
Manual payroll processing method may take you days to make sure your calculation accurate and compliant while you can complete it in minutes with PayDay! SaaS. PayDay! SaaS is an easy-to-use web-based payroll solution designed to meet your small businesses’ needs. Now you can focus on the things that matter to your business and your life. No more tedious manual payroll calculation! Click here to try it free for 30 days.
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