Payroll Software

Payroll software is a technology solution designed to automate employee payroll processing, including statutory deductions and tax reporting features such as T4 slips and other required tax forms.

Benefits of payroll software

Payroll management is a time-consuming and repetitive process. Automating it with a dedicated solution helps free up valuable time for finance teams (or HR teams, depending on the organization). Key benefits include:

• Automation of statutory payroll deductions
• Payroll remittances and reporting
• Automated pay slip distribution based on the chosen pay frequency
• Generation of tax slips and payroll reports
• Management of taxable benefits

When choosing payroll management software, it is essential to select a solution that complies with local and national regulations. Integration with an HRIS (Human Resources Information System) is also a key factor to consider.