Manual payroll approach is cumbersome and poses high chance for human-error. It also requires a great deal of paperwork which takes up a lot of time. In today’s fast-paced business environment and work-from-home trend, you know that times have changed, and so has technology. Manual payroll is counterproductive to company efficiency. Many companies are moving to opt for an online payroll system to make the payroll process simpler and more convenient.

Online payroll system operates in the cloud. It doesn’t require any installations or maintenance, and you don’t need to worry about expensive hardware investment and on-going software update cost. A small business owner or payroll administrators can easily manage and run their payroll from anywhere as long as with an internet connection to their devices. The system is flexible for users to pay full-time and part-time employees as well as contract and freelance workers.

“5 Points to Consider When Selecting the right Payroll Software Provider.”

  1. Payroll software specifically designed for small businesses: Choose a software provider that specializes in small businesses and understand the local legislation and taxation practices as they are more aware of your unique needs and the local legal requirements. You are not a multinational company, and therefore you don’t have to pay a fortune for the payroll system like the MNCs. 
  • Transparent pricing: Majority of the cloud payroll system providers in Malaysia charge fee based on block rates. This model will cost you much higher per employee cost.  For example, if they charge 1 to 10 users at a block rate of RM 100 per month, even your company have only 5 employee users, you still need to pay the same block rate as the other company which has 10 users. 

By comparison, AutoCount Cloud Payroll & HR is one of the most cost-efficient payroll software in Malaysia. You pay for only what you use without any wastage since the subscription charges are based on per employee payroll user each month.

  • Excellent customer support: There might be times that you need to seek expert advice. Provider that can offer both online and offline support channels should be on top of your list.
  • Flexibility: One size doesn’t fit all, especially if you’re a small business. Try to find a provider that doesn’t require an annual contract and allow pay base on your team size grows, so you only pay based on what you use in each month. AutoCount Cloud Payroll is one of the options as the subscription fee is by monthly basis and by employee users.
  • Free trial: Most small business payroll providers also offer free trials to make sure the software is right for you. Look for those that provide full-featured trial so you can experience and assess the entire system to gauge its suitability to your business requirements.

“What Payroll Features Matter Most to Small Business?”

Once you’ve shortlisted 3-5 of the best payroll software choices that fit your criteria, you should look for these key features:

  • Link to online banking facilities – there’s a lower risk of fraud, lost checks, besides speed and convenient benefits.
  • Tax and labour law compliance in Malaysia – Support web-based submission of Income Tax, EPF and SOCSO reports based on Malaysia law. It would be great if the software can validate and eliminate errors in payroll tax deductions using the LHDN-PCB calculator.
  • Reporting capabilities – Comes with comprehensive management reports. 
  • Employee self-service portal access â€“ It’s more productive when employees can log in to review and download their payslip on their own, without having to wait for hardcopy distributions by HR/admin. personnel.
  • Employee onboarding or termination: The right payroll software should make it easy and simple to add or remove employees through an administrative panel such as using a drag-and-drop method.
  • Income types: Your small business payroll system should allow for different types of income, including expenses reimbursement, commission, bonuses and other taxable benefits.
  • Deduction types: Possess the ability to deduct costs like medical, dental, employee loan, should also be on your checklist.
  • Overtime payments: Your payroll software should be able to handle different formula calculations for overtime pay rate based on each employee’s entitlement.
  • Off-cycle payroll: You can use this function to distribute bonuses, process an advance or final pay, or make any correction.

By automating your payroll, you can remove a huge administrative burden off your shoulders, saving yourself precious time and the pain of mistakes. Seriously, you have better things to do than spending time updating overtime and manually calculating taxes. Explore AutoCount Cloud Payroll full-featured free trial now to make work life easier.