Payroll Outsourcing Singapore
Pay day is a day which every employee is looking forward to. However, it may not be a happy day for employer if the payroll processing is not properly managed or when there is no professional system in placed. This can easily lead to discrepancies and affect payroll accounting, resulting in providing inaccurate report data for income tax filing. Singapore SME companies might be self managing or have a HR department with full time HR staff to manage payroll and leave for the company. However, unlike payroll outsourcing, by employing full time staff, employers will have to perform essential work such as evaluating their performance, paying year end bonus, medical leave, statutory claims etc. HR payroll outsourcing to professional payroll services companies can be a great cost savings to your business.
Payroll Outsourcing Work Flow
Our payroll specialist will migrate all your staff’s personal details to our payroll system.
If there are any new comers or resignation at any one time, you can update our payroll specialist to make new entries or edit the accounts every month.
3. Payroll Details Processing
- We will conduct a variance review and create a query list which we will send to the company.
- You will review and respond to the query list.
- We will make any necessary changes according to your response to the review queries.
4. Payroll Payment
We will generate the payment and upload by internet transfer (giro).
5. Payroll Payslip
We will upload the payslip in the payroll system where employee can retrieve their payslip from the software.
We will submit the CPF.
7. Payroll Reports
We generate payroll reports including headcount movement.
8. Journal Entries
We will provide GL journal entries.
9. Income Tax Filing
By end of year, we will prepare the IR8A, Auto-inclusion Scheme (AIS).
10. Bonus Payment
By end of year, we will prepare and pay the bonus to your employees.
SingaporeAccounting.com provides payroll services for small business with cheap payroll services fees as low as $10 per employee. Outsourced payroll services to let Singapore Accounting help you with your payroll processing today! We also provide leave management system which your employees can apply their leave such as annual leave, maternity leave, sick leave, paternity leave etc where your manager can keep track and approve easily. The leave management system integrates very well with payroll software that allows better HR management. However, if your business already has an existing good leave management system, we do have a standalone package for payroll system as well. Reach out to our consultants for a non-obligatory meeting session which we can understand your needs better and tailor the most suitable accounting and payroll packages for your business.