Introduction of Payroll Software

Payroll software helps employers in the United Kingdom to process and manage salaries of their employees. While selecting payroll software, the following points should be kept in mind:
After sales support: Ensure that the payroll software company offers a good after-sales support such as online support/direct telephone? Is the service available 24/7 or it is only available for a limited time period
Business strategy and growth plan: What are the operational plan and strategic growth plans of the business over the next 3 to 5 years? Will business expansion require additional workforce? What will be the nature of workforce – part-time or full-time? All such questions will save the business additional cost to upgrade the payroll software
Handling taxation: Incorrect tax computation can result in fines and penalties. The business must ensure that the software automatically updates any tax changes
Internal information technology (IT) capabilities of an organisation: What operating system is used in the organisation? What is the hardware configuration? What is internet connection and networking plan? Does the organisation have a qualified IT professional to tackle technical difficulties or is it better to outsource the service to a third-part vendor at a nominal rate?
Location of employee: Are all the employees present in one office or different offices/geography
Mode of payment within the organisation: Does the business pay via cheque or directly via BACS
Payment structure of the business or company: How are the employees paid – part-time employee – hourly pay, full-time employee – monthly pay or commission base employment
Size of the business or company: Workout the number of employees that need to be paid on a monthly basis
Security features of a payroll software: How secure is the data? Is the software compliant with the new General Data Protection Regulation (GDPR) requirements? Where the data is stored – system/cloud? How frequently does the data back-up tool update?

Essential Requirements of Payroll Software

Automation: It is imperative to purchase or deploy a payroll software that automatically updates information across modules
Auto enrolment amalgamation: Businesses in the United Kingdom are required to offer auto enrolment and make the necessary payroll deductions
BACS integration: Direct BACS integration is vital for smooth payroll processing
RTI integration: Real Time Information is now obligatory by HMRC for payroll and organisations must ensure that the system has the capability
Real-time calculation: Payroll should be processed automatically and each employee should be paid for the exact number of hours worked. In case a business frequently distributes commission, bonuses, or overtime, then ensure that the software has a feature to customise the payroll processing process
Tax filing:Pay-as-you-earn (PAYE) and National Insurance (NI) form part of the payroll process and it must be assured that the payroll software is compatible [su_table]
Essential Additional
Auto enrolment for pension schemes Accessibility from smartphone and tablet
Calculation of additional payments e.g. holiday/maternity pay, statutory pay Cloud backup
Different payment schedules Employee calendar
HMRC payments and RTI filing MMultiple currencies, Emailed payslips, Free backups and updates, and P11D ready
Tax and NI deductions Payments via BACS

Features of Nomisma Payroll Software

Founded in the year 2013, Nomisma is a modern day cloud-based application. Its key features are as follows:
Dashboard: Payroll module gives the user a glimpse of payroll records, Real Time Information (RTI) submissions and payslips all in one place at a glance
Merger with bookkeeping module: Nomisma Solution is automatically integrated with the bookkeeping module eradicating the requirement to move data manually
Automatically processing payroll: Nomisma makes fixed payments easier as the application is capable for running a payroll process for companies automatically
Automatically computes obligatory or voluntary expenses:Nomisma software is capable of computing Statutory Sick Pay (SSP)/ Statutory Maternity Pay (SMP)/ Statutory Paternity Pay (SPP) and paying student loan, among others
Working Papers: Users can upload and keep track of all client information connected to each individual account
Provision to e-mailor print payslips/P45 (Pay-As-You-Earn)/P60 (End of Year Certificate)
Auto Enrolment: Nomisma is an ideal payroll software for small business and helps to stay compliant with effortlessly circumnavigated auto-enrolment process with a simplified opt-in and opt-out provision
Comprehensive reporting: Users have the option to generate numerous reports depending on their needs and covering all the information pertaining to payrolls

Nomisma Payroll Software Free Trial

The company offers 1 month free trial for both accountants and business users. To begin using the trial version of the software, contact Nomisma Solution right now.