What is payroll management system?

Payroll Management System plays an important role in running an organization successfully. It is one of the major jobs of the HR department. It deals with the employee's salary, allowances, deductions, gross pay, net pay etc. Payroll Management System helps the management to automate all these transactions and saves a lot of time to the HR people. 

A company's morale depends on paying its employees consistently and on time. Establishing the payroll period (bi-weekly or monthly) and managing an employee's financial records including salaries, bonuses and calculating fixed and ad-hoc deductions etc., are all managed by the Payroll Management System. A good Payroll Management System is the strength of any Organization.