Payroll and Accounting Benefits of Payroll Accounting Systems - Feb. 2014 | Page 3

An ideal payroll accounting software system is actually a complete solution from a single-window. It is
capable of providing accurate information and to-the-minute reports for better management of labor
costs. This is a definite improvement over manual time clocks. Overtime costs are also monitored and
controlled properly.
As a result, your attendance tracking capabilities are improved. It is a self-servicing procedure. Schedule
of timing of a particular group of employees is possible. Applications like easy management of leave and
attendance records ensure excellent management reports.
You are simply in a position to track the activity of each employee. The quick access to information
provides the management an opportunity to take proper decisions with regard to reward to loyal
employees and punishment to the erring ones. Benefits to administration are rendered easy.
Many Government Departments exercise their proportionate rights over the salary of the employees
and such deductions need to be done well in time and remitted to the concerned agencies. This is an
important legal aspect and even a day’s delay attracts heavy fines.