Payroll is a complex matter you have to figure out to avoid tax penalties and employee dissatisfaction. But if you’re getting tired of making spreadsheets, why not just use the best payroll software in Singapore?
Here, you’ll find a list of the top software programs and applications for your business. We also answered some FAQs, so be sure to read until the end of the article.
But before anything else, we’ll first share with you tips on how to choose the best payroll software that’s suitable for your business.
Accounting Software Vs. Payroll Software
Accounting software only shows your company’s transactions, with payroll accounted only as another outflow. Details on the payroll, such as how much each employee is getting, may be excluded in most accounting programs.
If you already have accounting software, you may also already have payroll software integrated to your system.
Here are just some of the accounting programs that may have payroll services as an add-on:
However, payroll as an add-on tends to have limited features since it would only include the financial side of things, excluding the HR side of it.
On the other hand, some payroll programs are also readily compatible with free accounting software. So, having a payroll software then integrating it to an accounting program may be a better option for you.
How to Choose the Best Payroll Software
The following factors and features are what you should consider before making a deal with your prospective payroll software provider or developer.
- Number of employees
Payroll software can cost more if you add more employees overtime. Some even have a cap for maximum employees.
So, make sure you’re getting payroll software that can accommodate your projected HR growth within the year.
Payroll software can come as online websites or as desktop applications. If you choose online software, you’ll be able to access it anytime, anywhere, using any device.
On the other hand, if you choose a desktop application, you can only access it on one device. So, if you’re more of a dynamic person, we suggest you find online payroll software that’s also mobile-friendly.
Given the last factor, you should also ensure that you’ll only be dealing with a safe and secure network. Imagine if your employee’s account numbers and your business’s finances were leaked; what a disaster, right?
So, ask your potential provider about its software security for good measure. Make sure they have data encryption, firewalls, and multi-step verifications before anyone can access crucial files.
- Payroll frequency
The more frequently you use your software for payroll, the more you may spend. If you’re a new business, you may still be deciding on what payroll frequency best suits your company.
So, make sure you purchase payroll software with a flat rate for whatever payroll frequency you may have.
Some add-ons may include computing and reducing the taxes for you, accounting for employee hours, and factoring in supplemental wages like tips and commissions.
Additionally, there are also software programs that provide year-end or quarter-end reports complete with financial analysis. So if you want that but don’t have time to build an accounting department, make sure your payroll software offers summary reports and analysis.
Some add-ons you may find from payroll software may already be an automatic feature in another software. So, make sure you get software that can accommodate all your desired features as default.
- Interface and system
You’ll be paying for payroll software to make things easier for you, right? So, you wouldn’t want to get software with an ugly interface and alienating instructions and controls.
Acquire software that you can easily understand. You can also opt for one that’s easily customisable to suit your specific needs.
Last but not least, you should only get payroll software from a company that you can easily reach via phone or email. The developing company should be able to answer should you encounter problems with your software.
Aside from being easy to reach, the company’s support team should also be easy to understand. The better their team is with communicating, the more likely it is that you’ll be able to follow their techy instructions and resolve your issue.
To check all of these features, you can read their website and reviews, ask for recommendations, or choose from our list! You can also ask for free trials, if there are any, so you can test out the software before committing to it.
How Much Do Payroll Services Cost
Usually, payroll software has a basic flat rate and additional rates per additional employee. Some may even charge more for more frequent payroll activities.
|Type of expenses||Price range|
|Base fee||$10-$150 per month|
|Additional cost||$4-$15 per employee per month|
You should know, by the way: some payroll services also brand themselves as free but you may find yourself paying more for additional features.
The Best Payroll Software for Your Business
Now that you know how to choose payroll software and how much it should cost, it’s time to choose one. Here are our picks for the best payroll software programs in the country.
|BEST FOR||Wide assortment of services for free|
|SERVICES||Payroll system, employee management, permits and licenses, cpf, reports, and information updates|
|PRICE||Free for small businesses|
Singroll is a payroll service made for small businesses, made by fellow SME owners. It caters to over 4,000 companies and makes up to 8,000 payslips, complete with comprehensive reports.
But clients aren’t the only things Singroll has in an abundance of because it also has numerous special features.
Aside from the usual tracking of absences and itemized payslips, Singroll also allows scheduling, loan tabulations, company announcements, and work permit management.
One of the best things about this software is that it has fast and easy signup and free registration. Once employers set up their payroll system, employees can easily make their accounts on the website.
Despite housing many companies on its site, Singroll still assures data security and privacy with the help of data encryptions, firewalls, and 2-step authentications. However, if you don’t really like accepting cookies, then you may have a problem with this online payroll software.
|BEST FOR||Wide range of services|
|SERVICES||HR services, payroll system, and time and attendance|
|PRICE||Message for a quote|
Trusted by MNCs from over 35 countries, Ramco is an international enterprise providing HR payroll, logistics, and management services. This company brands its payroll software as an accessible and universal online solution to HR.
Despite being a large and global company, it still stays up-to-date with local monthly statutory arrangements. Ramco maintains this level of information by partnering with in-country vendors and internal experts.
Ramco also guarantees that once clients buy its product, they’ll receive all features, nothing more and nothing less. Its software is also very collaborative and connective to other third-party accounting applications.
Aside from being entirely accessible, Ramco’s payroll software also has a minimalistic design. This ensures user-friendly software.
To further enhance customer experience, Ramco also delivers excellent customer support, thanks to its chatbots and process automation.
|BEST FOR||Award-winning payroll software|
|SERVICES||Payroll system, HR services, pre-employment screening, employee attendance, and leave tracker|
|PRICE||$50/month for 21-30 employees
Get in touch with their team for a quote.
Payday is yet another example of payroll software made specifically for SME owners who have little to no experience in handling payroll. StoneForest developed this software to add to its existing payroll services.
Payday has three forms: offline software, online SaaS and HRMS (HR Management Solution). Among the three, HRMS tracks everything from employee efficiency to payroll transactions.
With Saas and the Payday software, clients can track payroll information, set reminders, print reports for government submissions, and evaluate their payroll transactions. It also has automatic updates and back-up restorations that’ll protect and secure your data.
Another thing that sets this software apart from others is that it offers customisable HR letter templates. With all of these features, Payday has won Best Payroll Software in 2015.
Additionally, employers can also use this software to easily integrate their payroll into their accounting software. However, this third-party integration is only available to their partner, XERO.
|BEST FOR||Unlimited free plan, integrated HR tools|
|SERVICES||HR services, payroll system, employee’s information database, and employee leave tracker|
|PRICE||Basic plan: free
Advanced plan: $40/month for first five employees
Talenox is yet another example of online payroll software that’s perfect for SMEs from all around the world. Although this might be an online and international company, it still guarantees to stay up-to-date with its client’s local tax regulations through local connections.
The software has a built-in calculation system where it can easily compute salary given absences and overtimes. It also accommodates numerous payroll structures with the choice for monthly or weekly scheduling.
This company also does collaborations with local banks. So, its clients can easily export their files to banks and financial institutions thanks to Talenox’s configuration.
Additionally, Talenox is also compatible with numerous accounting books like XERO, Quickbooks, and Deputy. For free software, Talenox does provide various benefits.
Aside from being the best payroll software in Singapore, Talenox also offers HR services. These include customisable employee profiles with information synchronization and data migration to a secured website.
Frequently Asked Questions
Do you know any other software programs or sites offering payroll services? If so, you can leave us a note so we can also expand our list.
If not, then that’s it for our list of brands offering the best payroll software in Singapore! Just keep in mind the different factors you should consider before choosing one payroll software brand.
But if you figure you don’t want to handle your payroll by yourself, then you can instead check out our list of the best payroll companies in Singapore. These companies will also handle everything, from tracking hours to ensuring tax compliance.