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BY Jules Dalmacio Articles
Creating payslips is as important as it is ardous. It requires accuracy and attention to detail. There are three methods that we are most familiar with when it comes to creating payslips: full manual, semi-manual, and automated. While every method can get the job done, not all methods are as time consuming, and some of them are more productive than others. We’ll look at how much time payslip creation takes and what’s the best way to process this repetitive yet important task.
Full manual payslip creation is the most tedious method of creating among the 3. This method may or may not involve manually calculating each employee’s pay but it sure does involve manually filling out a payslip. The process can be time-consuming and prone to errors, especially when dealing with a large number of employees. Even for businesses that have 3-5 employees, an HR or a business owner might take several minutes up to a couple of hours just to compute, check, and write down payslip information. What more full blown and growing companies? Payslip generation alone might take days.
Semi-manual payroll processing and payslip creation is a slightly less tedious method. This one is most commonly digitally assisted through programs like spreadsheets. Other companies that have payroll software that can calculate employee pay and deductions may still need to create payslips separately. While this method is faster than full manual payroll, it still requires a significant amount of time and effort to ensure accuracy. Generating a payslips for about 10 employees using this method can take up to an hour or two, not including checking and revisions.
Fully automation is the most convenient and even most accurate method of payslip creation. This method involves using specialized software that automates the entire payroll process, from calculating employee pay and deductions, to generating payslips. The software can also automate tax filings and other compliance-related tasks. Sans human error, the entire process becomes much faster and more accurate. Generating payroll even for a company with hundreds of employees using automated payroll can take as little as a one click, and the payslips are generated alongside every payroll and payout.
When comparing the time it takes to generate a single payroll using each method, it’s clear that automated payroll saves the most time. Automated payroll can save hours of work each pay period, freeing up HR staff to focus on more holistic and important tasks. Automated payroll also reduces the risk of errors, which can save time and money for companies.
While creating payslips is an important task for HR specialists in the Philippines, it should not take up a lot of their productive time. By providing HRs with a payroll system that takes the tedium out of payslip generation, companies can empower them to help in more important HR aspects that help businesses grow like employee retention, enrichment programs, optimizing screening processes, and more. Discover the convenience of auto-payslip generation. Sign up and try Salarium for free today.