Payroll software automates the process of paying salaried, hourly and contingent employees. Compared to paper-based systems, payroll software significantly speeds the payroll process while reducing errors and enabling managers to more easily customize paychecks for individual employees.
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Payroll software automates the process of paying salaried, hourly and contingent employees. Vendors of human resources technology and specialized payroll companies often sell payroll software as a stand-alone system.Payroll software is increasingly a central component of integrated, multifunctional human capital management (HCM) systems. Compared to paper-based systems, payroll software significantly speeds the payroll process while reducing errors and enabling managers to more easily customize paychecks for individual employees.Payroll software features , Standard functions in most payroll software systems include automatic calculation of deductions for withholdings, such as taxes, insurance and retirement contributions. Payroll software also commonly processes direct paycheck deposits, generates tax forms and deducts wage garnishments. Payroll administrators can also configure systems to print checks for employees not enrolled in direct deposit.Many payroll systems include self-service capabilities that enable employees to view and download payroll checks online on mobile devices and computers and to change deduction amounts.