Payroll System

Checklist: What Your Payroll Software Should Do For You

By July 5, 2016

A list of must-have modules within modern payroll systems

Whether you are a first time purchaser of payroll processing software, or simply upgrading your existing system to the more modern Cloud-enabled system, knowing your options is essential.

Here is a definitive list of features of what you should expect from modern payroll systems.

Cloud System: Removes the need for in-house software, IT systems or support. SaaS exists in the cloud.
Time & Attendance: Award interpretation of start/finish times and/or hours into payroll codes. Includes overtime and shift based allowances.
Time Sheet Management: Capture time online and feed into payroll. Ensure integration with external project and ERP systems.
Workflow and Automation: Easy to configure workflows, create your own rules for different scenarios.
Compliance: Fully compliant with all EBA requirements, employment Relations Act and IRS requirements.
Centralise Documents: Centralise and electronically store all employee documents for easy access.
Date Sensitive: Automated date sensitivity for new starters and terminations, removing manual intervention.
End of Year: Automated end of year requirements and reporting.
Event Notification: Notifies you and others of outstanding tasks to ensure accurate outputs and sign offs.
Flexible Dashboard’s: Create and customise your own system screens and views.
General Ledger: Configurable mapping tools for finance system interface and required file outputs.
Help Desk: Unlimited help desk support with online tutorials.
Labour Costing: Measure and track labour costs as they occur, at cost centre, job or project level. Compare vs actual costs.
Leave Management: Automated accruals and rules. Leave history records. Employee and manager self-service options
Multi-Position Management: Employees in multiple positions are paid according to their award at the time of occupancy.
REM Packaging: Models and manages remuneration packages including FBT, budgets, superannuation and cash.
Reporting: Easily extract information available in any format. Schedule, auto-generate reports and workflow.
Retrospectivity: Automatically calculates and updates historical transactions and outputs/systems to reflect actual figures.
Self Service: Easy to use self-service functionality for data capture and automated workflow.
Simple Tax Filing: Electronic file production and submission of files to government departments.
Single Employee Masterfile: Central record and management of employee information across system modules (i.e. HR and Roster).
Super Clearing: Superannuation clearing facility.
Termination Wizards: Easy to understand wizards step you through compliant processes. Redundancy quotes.
Zero Errors: Quickly analyse payroll data and compare to prior periods, highlight risk or possible errors.