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Payroll Accounting Software by Ray Computech is a solution geared towards small, medium, and large enterprises. Based in Calcutta, this software can be configured to function as a full PMS (Payroll Management System) or as a basic payroll program for small business.
The user-friendly interface of Payroll Accounting Software makes it an ideal solution for companies that need dedicated payroll software. This is a 32-bit Windows application that runs smoothly on a SAP front end that seamlessly communicates with major databases such as SAP, Access, and SQL Server. The Payroll Accounting Software also offers a web-based platform that can be activated with the base Windows license.
Who Uses Payroll Accounting Software?
The Payroll Accounting Software has been developed with the Indian market in mind; as such, most client are companies in that country that need a reliable solution to generate and manage their wage sheets and payroll reports while staying in compliance with items such as EDLI and MIS reports.
Prominent companies that have implemented this application as their primary payroll solution include major tea exporters, industry associations, tool manufacturers, a few national banks, and a statewide transportation firm.
Payroll Accounting Software Features
Below are the seven functions of Payroll Accounting Software.
- Reporting: The standard reports that can be generated include payments register, leave status, paid bonus, Employee's State Insurance by month and year, advance payments, and worker loans.
- Tax return forms: Employees Deposit Linked Insurance and FPF returns can be easily filed along with Form 16, Form 24, gratuity valuations, and paid leave validation.
- MIS reports: This application includes a full-featured management information system that allows accountants to generate reports such as monthly salary journals, cumulative pay, salary reconciliation, and general payments to employees that may fall outside of the usual payroll. Other calculations that can be managed with this module include a register of deductions, payroll forecasts, and actual cost of the workforce to the company.
- Graphical representation: You can visualize more than just payroll and salary fluctuations with this program. If your company sells either products or services, you can use the Payroll Accounting Software templates to input figures and generate monthly graphical reports.
- Transaction entries: This application can be used like a time sheet to keep track of attendance. The default time interval is daily or by shift, but it can be adjusted for employees who are paid hourly wages. Overtime calculations can be easily configured as well as other payment transactions that are not part of the usual payroll schedule. Payday advances and employee loans can be recorded and managed with this feature.
- Master entries: In this configuration module, accountants can set up all the parameters they need to manage payroll. Options include salaries, hourly wages, insurance, taxes, leave, employee loans, and even a prerequisite checklist before workers can be added to payroll.
- Utilities: These are special tools that allow your accountants to import data from spreadsheets or employee attendance clocks. Should you need to export data, you will be able to configure it in Microsoft Excel and Word formats.
Payroll Accounting Software Pricing
Ray Computech offers a single-license pricing scheme for Payroll Accounting Software. Licenses for additional modules such as FAS Financial Accounting can be negotiated directly with the vendor. Although there is no free trial of this application, the web-based interface can be previewed at no cost. Technical support is available during business hours.
Payroll Accounting Software by Ray Computech is a good option for Indian companies looking for a compliant solution that can handle large and complex databases on Windows. The reasonable price for a perpetual license makes it attractive for businesses that manage large payrolls.
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