Benefits of using a payroll management system for school!

A payroll management system helps the HR department of a school to manage the disbursement of salaries efficiently. Skolaro Payroll management system allows users to manage the complex process of creating the employee profiles. The application seamlessly supports setting up the employee profiles in compliance to 5th and 6th pay commission, setting up pay-bands and pay-groups, employee increment management, Arrear management, LWP Management, Provident Fund, Gratuity, Employee State insurance amongst support for numerous features.

A payroll management system helps in optimizing the process of paying salaries to the employees or staff. In a school, payroll calculation revolves around both teaching and non teaching staff. The topmost responsibility of the payroll department is to ensure whether all employees are paid accurately and timely with the correct bonuses and deductions. This is why a payroll management system is required to disburse the basic salary structure, bonuses and leaves, advances and loans taken, considering the government defined PF/Gratuity/HRA/ESI rules with the utmost perfection.

What are the benefits of using a payroll management system in a school?

Saves Time

A payroll management system helps to save time as it helps in handling the large data of the employees. The system helps to streamline the attendance, half day and time of staff and automatically calculate the salaries to be paid to the staff at the end of the month. It helps to automate the entire process of payroll management and generate salary slips of the staff as well. Skolaro helps you create multiple pay structures for different employees and accordingly helps in the disbursements of their salaries.

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Helps in doing faster calculations

Traditionally, for calculating the salaries of the staff, the HR department had to do a lot of calculations like their total working days, their in and out timings, conveyance allowance, salary revision, overtime etc. These calculations were done manually hence these were prone to errors and it took almost a week of time for the HR department to calculate the salaries of the staff but with Skolaro you can calculate the staff salaries within minutes as it keeps a record of each and every data of the employees and gives you the exact figure of the salary needs to be paid to the employee for that month.

Reports & Analytics

Payroll software includes a variety of data about the employees related to their attendance, hours worked, leave, absence, compensation and benefits. This empowers the system to generate multi-dimensional reports and helps you conduct an in-depth analysis of employee costs as a whole, and calculate salaries for each department and even for the individual job profile.

Cost Effective

Cost-saving is an essential part for attaining financial stability for your school. When your payroll process is handled manually, you are required to invest in hiring additional staff and often experience calculation inaccuracy due to manual errors that may also lead to expensive reworks. And sometimes it becomes difficult to manage the salaries of the staff if they are high in number, so the team has to spend hours and hours in calculating the salaries.

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Implementing a payroll management system automates the process. It avoids hiring more employees, stores data in secure computer files and instantly calculates accurate salaries, making the process much more cost-effective.

Enables Data Security & Confidentiality

Data theft or loss often brings irreparable financial damage and even puts the reputation of any educational institute at stake. Payroll and school fees management systems include advanced security features to protect confidential information such as contact number, address, bank details, and more stored in it.

The payroll system allows users to access these confidential documents only through valid authorization. The advanced security measures keep your data safe from unauthorized access.

Skolaro Payroll management software deals with the salary of all the employees of an Institution. All the details around annual benefits, life insurance, provident fund etc. of an employee is maintained in this application.