Payroll outsourcing is a popular strategy that businesses of various sizes are adopting. By outsourcing your payroll process to a trusted provider, you can streamline your operations, ensure compliance, and free up valuable time and resources to focus on growing your business.
In this blog, we’ll discuss how our services can be a game-changer for your company.
Our payroll process is broken down into four key steps, each designed to ensure the smooth operation of your payroll:
1. Data Collection
We kick-start our payroll services by gathering key data, including changes in employee data and other payroll transactions.
2. Data Verification
In this key step, we cross-check all the collected data. We ensure that loaded data are complete and accurate, preventing any potential discrepancies in payroll.
3. Payroll Processing
Once data is validated, payroll processing is initiated. The system calculates the overtime, chargeable absence, tardy, undertime, and other pay items based on salary amounts. System handles all statutory contributions calculations, withholding tax, and loans deductions. Net pay is calculated and accounting entries are done by the system. We verify the accuracy of all calculations, ensuring that every figure from salaries to deductions is correct.
4. Reporting
Lastly, payroll reports are generated and validated by the payroll team. This includes payroll registers, bank reports, check registers, payslips. Monthly reports includes all government statutory reports, loans registers, and accounting entry reports.
Outsourcing payroll saves time and resources, letting you focus on your business. It’s important to understand the process for a smooth transition. Choose a provider that can handle your payroll size, meet your needs, and ensures compliance for an effective solution.
Ready to streamline your payroll process? Contact Asia Systems Group, Inc. today and let us help you find the perfect payroll solution for your business.
