Payroll software in Canada helps companies optimize complex payroll processes through calculations and automated payments. Reduce costly mistakes and time spent on administrative tasks, such as checking time cards and printing checks. Payroll software in Canada can also simplify filing taxes and manage compliance with federal, state and local regulations.
1:The features of payroll software in Canada:
The Payroll software in Canada function automatically calculates the gross salary of employees based on hours worked, as well as deductions for taxes, insurance and retirement contributions. It also takes into account the bonuses, increases and payment of overtime. With the tax administration function, companies can calculate federal, state, local, Social Security and Medicare taxes and deduct them from employee paychecks. This feature is updated regularly when the tax codes change.
2:Time and attendance
Time and attendance can capture employee hours through the clock software or a manual clock. The hours can be used to calculate the pay. This feature also tracks vacations and sick time. Some payroll systems have integrated time and attendance characteristics, while others may require integration with a separate module
Companies can process employee payments by printing checks or sending direct deposits to their bank accounts. In some cases, companies can pay employees through payment cards, which are similar to debit and credit cards.
Another new feature this year is batch payroll processing by payroll software in Canada, whereby users have the ability to finalise payslips, check for coding notices and send outstanding RTI & CIS submissions for multiple employers at the same time, which has significantly reduced the payroll processing time for payroll bureaus and accountants.
5:payroll approval feature
Payroll software in Canada Connect, we have also launched the client payroll entry and payroll approval feature, which is a game-changer for payroll bureaus and accountants. Clients can enter their payroll information into an online employer dashboard. Once reviewed by the bureau, the information is seamlessly synchronised back to the payroll software, eliminating the manual input and putting the onus on the client to make sure that the payroll information is 100% accurate.