Advantages of Payroll Software over Excel
Are you struggling to choose between using payroll software or excel to keep track of employee compensation? They both have advantages over each other. However, in my opinion, payroll software is superior to excel. Software developers, like us, specifically design payroll software for this task. I will list below some of the main advantages of payroll software over Excel.
The in-built functions are one of the advantages of payroll software over Excel.
First, payroll software has already been built for this task and contains all the necessary formulas one requires. When using Excel, one must create a workbook and manually insert all the formulas required to calculate salaries. This database must be constantly updated and refreshed whenever employees are hired or fired. This is a time-consuming process.
Less expertise is required.
Creating and maintaining an excel database requires a high level of expertise. To take full advantage of it, one has to be very familiar with many of Microsoft Excel’s features. This means that the company can trust only a select few employees to run this database. However, with payroll software, one only needs to go through a few training sessions before confidently using the software. One does not need to rely on a single highly-skilled employee to handle the program.
Payroll software was explicitly designed for payroll purposes, unlike Excel.
As your company grows, so will the amount of employee data you need to keep track of. Payroll software makes doing this a cinch as developers design it for this purpose. All one needs to do is create a new record whenever the organization hires a new employee and fill in several forms. The software will handle the rest in the background. This makes scaling up your database easy. However, when using excel, the amount of data starts to pile up. A simple table with a few rows and columns can grow into a behemoth of a database containing hundreds of records. This is not ideal. Finding and updating data becomes much more challenging.
Consistency in the payroll process is another of the advantages of payroll software over Excel.
Making use of payroll software ensures that there is a consistent payslip generation process. Employees do not need to worry about their salaries since the software automatically handles all the generation of payslips. With Microsoft Excel, one must manually generate the payslips. An employee has to write some code to automate this process. This is not ideal. Some employees may even mistrust the method used to generate their payslips since employees are prone to human error. Or worse, if the person in charge of the excel database is malicious, they can directly change employee data and generate a fraudulent payslip. Good payroll software helps avoid this problem. It ensures employee data is highly secure. Moreover, it already contains inbuilt error checking methods to reduce mistakes produced by fallible employees.
Payroll software also comes with a self-service portal that lets employees quickly view and manage their data. Giving employees access to this data provides them peace of mind. In addition, it allows them to obtain valuable information about their salary.
I strongly urge companies in Kenya to invest in Payroll software. Softlink Options sells licensing for Quick Payroll, an excellent payroll software. If you’re interested in making this purchase for your business, CONTACT US. We take great pride in the quality of our products and services. Therefore, we always strive to meet our clients’ needs and specifications.