Many companies outsource services to carry out administration tasks such as payroll, employee compensation, time and attendance, tax filing, insurance and benefits. However, outsourcing may be costly in the long run, especially for new and small businesses with less capital.
Admin tasks are not complicated, but it does take a lot of time and effort to record all the detailed activities. It makes more sense to have someone else do the job so that business owners can focus more on growing the business.
This is where payroll software comes into the picture. Payroll software can be helpful for small businesses to handle administrative tasks in the house.
Benefits of payroll software for small business:
For some companies, small-business payroll software can even eliminate the need for a full-time payroll employee.
Risk of incurring penalties decreases as payroll software normally will remind you of the important deadlines.
There are many payroll software solutions available in the market. However, determining which is best for your business can be overwhelming. We have created a list of popular payroll software in Singapore and their prices,including the totally free one,as a guide to help you navigate your options.
PAYDAY Software as a Service (SaaS) is a cloud-based online payroll and leave solution. It is developed and designed for startups, entrepreneurs, business owners or accountants who have little or no experience in handling payroll. In addition, it is most suitable for Singapore SMEs with fixed monthly payroll policies and less than 50 employees in their employment.
Dont worry, they offer a 30 Days free trial to get yourself familiar and comfortable with the software before committing to anything.
PayDay! SaaS Payroll Software Features Include:
Business owners can securely process their payroll and manage leave anytime, anywhere.
Employees can view their electronic payslips / apply or cancel leave online or via their iOS and Android mobile devices.
Approvers can approve/reject leave online or via their iOS and Android mobile devices.
JustLogin is a HR built for SMEs and wasawarded as Singapores 1 HR Software in 2018. They are also PSG approved. Businesses can claim 70% of cost with PSG, a grant program available under enterprise singapore to help SMEs.
JustLogin provides a free 14 days trial without credit card required.
JustExpense: receipts, invoices and claims management
Price: $5.00/user. However, can be more affordable depending on the number of employees
Simple pay is an online payroll software that does not need you to install anything on your computer. You can access and work wherever you are. They offer30 days freetrial of the SimplePay online payroll system.
SimplePay Payroll Software Features Includes:
Connects directly to IRAS for IR8A submission. Export files for monthly e-submission of CPF info
per employee per month (fewer than 3 employees are charged as 3 employees)
Each additional employee (over 25 employees) is charged at only S$3 each
One of the unique features of Talenox is that they offer an unlimited free version that will never expire. With the free plan, you can run multiple payroll payments monthly, store employee info and connect with customer support within the app. However, it will be limited from other features that are only available with Talenox Suite Plan.
Talenox (Suite Plan) Payroll Software Features Includes:
One-click-export to banks, CPF portal, and IRAS
Integration to accounting software: Xero, QuickBooks Online
Available 24/7 on all compatible web browsers
additional S$8 for each additional active full-time employee
additional S$4 for each additional active part-time employee
with a total monthly cap of $400 (limited time offer)
completely free payroll software for small business
Singroll is the biggest free payroll in Singapore. There is an unlimited number of users and no grant application needed. It is listed in the Supporting Payroll Software Vendors for the Auto-Inclusion Scheme (AIS) for Employment Income.
A lot of your time can be used to planning and growing the business instead of doing administrative tasks. Subscribing to a cloud-based payroll software can be very helpful in managing all the paper works for you.
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We envision a world where business owners have fast and simple access to the funding they need to grow. Thats why were on a mission to re-invent banking for SMEs across Southeast Asia.
Our current product provides SME and startup owners in Singapore with financial flexibility through a line of credit of up to S$150k. Which, can also be used to make business payments to enjoy 60 days free credit terms.
With no monthly fees or obligations to withdraw, you only pay interest on the amount you end up using. Opening an account is free and can be done online
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