Owning just the right payroll software for a company/business is as important as hiring an ideal expert employee team for progress in sales, marketing and backend operations. While there are immense options in the market when it comes to payroll software the wise decision is to check the efficiency, features, speed and affordability of the product. Whether the end product is doing justice to your investment.
Here is one such payroll software that is loaded with advanced features and is undoubtedly fast and accurate in terms of calculations. SAG Infotech designed India’s No.1 Gen payroll software available in both online/offline versions. The software serves best with maintaining employee’s daily records, preserving their personal information, calculating (salary, bonus and deduction), calculating Tax on salaries, furnishing returns for taxes paid, attendance management, investment details and so on.
Currently, the software has an attractive offer on the purchase of a desktop version. Here is a glimpse on some of the irresistible features of Gen Payroll Desktop Version:
- Government Protocols – The entire framework of the Gen Payroll Software is designed keeping in mind the government norms and abides by the global employee management framework. Compare the top Gen Payroll Desktop Software for employee management.
- Dynamic Formula – Every company has a customized formula for salary calculation. Therefore the software gives the user the advantage of customizing the formula using the ‘Dynamic Formula’ feature and create a flexible salary structure as per the current demands.
- Payslip Preparation – The format of the payslips (meant for employees) is thus defined by the users with the help of the software. The contents of a payslip include the name and registration number of the employee, total salary, company logo, header, footer, details of various deductions, employee signature, loan, reimbursement details (if any), etc.
- E-mail facility of payslips – Email ids are preserved under the heading ‘Master Details’ and all the employees get the payslips along with the message defined by the user in Excel/Word/PDF/HTML format.
- Data Export Facility – Once the data is exported to the excel spreadsheet than with the help of pre-set formulas the exact value of Overtime, bonus, deduction, absent leaves, etc is drawn.
- Arrear Calculation Facility – Arrear set up is done based on the user’s requirements, import/export of arrears, calculation, etc is easy via Gen Payroll Desktop Version.
- Supports reimbursement of salaries – The Monthly Balance facility, Monthly restriction facility and importing the balance to new Opening balance and so on. All the facilities are duly extended by the Gen Payroll Software.
- Salary Distribution – Employers can easily categorize the employees based on the projects they are dealing in land distribute the salaries accordingly.
- Preserve loan details – Gen Payroll has the facility to deduct EMIs from employee’s salaries based on the loan taken by them from the company.
- Advance Account Facility – With the help of this facility an individual could show monthly deduction from his/her salary.
- Bonus Calculation – Employer can easily calculate employee’s bonus based on his/her overtime or additional achievements.
- In-built TDS Utility – The software facilitates the auto calculation of TDS on salaries and at the same time helps to prepare Form 16, Form 16AA, Form 12BA, Return Form ITR-1, Form 16, Form 16AA, Form 12BA.
- Employees’ leave management – The feature allows encashment of leaves, holiday assignments, leaves granted by the management and so on.
- Professional Forms (State-wise) – Monthly ESI forms, ESI Challan, Forms 5, 6 & 7, online form1 (declaration form) can be submitted using Gen Payroll Software.
- ESIC – The software allows access to Monthly, Quarterly, and Annual Forms by Employees’ State Insurance Corporation.
- Preparation of MIS Reports – Formulation of cash, cheque, bank statement, attendance register, transfer register, payroll, salary calculation, overtime calculation, status reports and lots more.
- Report Guide Setup – The section has letters for appointments, appraisals, notice and salary reports stored.
- Report Format – Reports can be drawn in various formats like Word, Excel, HTML, and PDF.
- Transfer of Data – Data here means the employees’ daily attendance records, salary grant, arrear, reimbursement, investment details, bank details, etc. can anytime be imported or exported (only be authorized individuals) depending on the situation. Access to such information is given only to the management or other concerned individual.
- Restricting the Payments – The software allows the employer to stop any of the employees’ salaries (if needed). This usually happens after the employee has left the company.
- Document Manager – With the help of this utility, the user can easily affix the scanned photos, leave applications, transfer letters, increment applications and much more in a PDF, Excel, JPG, Word or BMP format. Additionally, it has options to modify, edit and save the files in the software for future reference.