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Any poorly implemented process can be really disastrous for everyone. In a world that competes for speed and accuracy in products and services, there is little or no room for inefficiency and lethargy. Undoubtedly, technology is one of those remedies, but it can be a double-edged sword if it is not implemented or works efficiently.
Also in the business world, the manufacturing and service processes are being automated to stay alive in this competitive environment and where cutting-edge technology seems to win the game. Internal processes within organizations are keen to catch up with this fever. It is not surprising that HR has also been absorbed by this technology. Technological advances have taken place in leaps and bounds where systems or services are increasingly efficient, to the delight of both employers and employees. Obviously, organizations clearly see cost efficiency and long-term resource optimization, while employees enjoy uninterrupted efficient services.
Let us now evaluate the advantages of an automated Chatbot & AI enabled Payroll Software in Pakistan to manage one of the most demanding and legal processes within HR, which is the payroll process. The payroll process in HR requires systematic procedures that must be followed and of a specific duration. The only well-implemented software will be compatible with this requirement.
Normally, the payroll process is divided into the following established procedures and necessarily in the same order:
Collection and validation of entered data:
This is the most important of all the jobs to do in a payroll function. The payroll contributions will be sent by several authorized interested parties to the payroll department for further processing. In general terms, the types of inputs would be the newly incorporated, the departing employees, and the addition of salaries, salary reviews, single payments or deductions.
In the first place, it is necessary to verify if there is any Company policy or statutory changes that may affect the payroll in order to modify the software configuration accordingly. Secondly, once all the entries are received, validate them to ensure that the data are duly authorized or if they are in accordance with the company’s policies or government regulations. In addition, this will also help to verify if all entries are correctly presented in the system in the correct modules.
Once all the entries are sent and reviewed, now is the time to process the salary inChatbot & AI enabled HR Software in Pakistan. The system will now generate the gross and net salary of each employee based on the data provided. It will also deduct and retain relevant taxes and deductions according to the earnings of each employee.
Registration and salary verification:
With the complete processing, perform verification and balance activity to verify if the payment results are accurate. First, generate a salary record through the software. It is a statement of all elements of payment and deductions made to employees individually. There are many methods to verify the accuracy of a salary record and the most common is the variance report between the previous month and the payment results for this month. Evaluate each and every one of the important variations and is completely satisfied before continuing with the next steps. The second crucial control is the reconciliation of the count to ensure that the right people are paid.
Banking file, accounting, reporting:
This is the first step in post-payroll activities. Generate the banking file of the system. A bank file contains a net pay statement per individual employee, along with your personal bank details. The total bank file must match the total net payment in the payment record. The file must be sent to the bank to make new disbursements to the bank accounts of the employees.
Next, generate the system journal vouchers and send them to your Finance and Accounting team. With this report, they will ensure that funds are available in the bank account for disbursements
Finally, the legal withholdings have to be remitted to the governmental agencies respectively along with the necessary returns or the detailed operation. The system will generate individual reports to allow the payroll team to use the same. In addition, Chatbot & AI enabled Leave Management Software in Pakistan can be linked to government portals in order to pay online or generate receipts and send the returns electronically. As the last step, the payroll of the month can be blocked to avoid further changes or entries in the data. With this, concludes payroll activities for the month.
Here is the list of features which you can get by using PeopleQlik:
- PeopleQlik Core
- Core HR Software – HRMS
- Cloud Payroll Management Software
- Employee Self Services
- HR Analytics Software
- Corporate Wellness Platform
- Workforce Administration
- Leave Management Software
- Time and Attendance Management Software
- Shift & Scheduling
- Claims & Reimbursements
- Timesheet Management Software