Are you looking for the best payroll software for your business in Singgapore? With so many options on the market, knowing which one is right for you can be challenging. To help you make the best decision for your business, we’ve put together a list of the 10 best payroll software options in the country.
With so many businesses moving online, it’s no surprise that payroll software is becoming more popular. Payroll software offers a range of benefits for businesses, including the ability to automate payroll processes, save time and improve accuracy.
There are a number of payroll software options available on the market, so it’s important to do thorough research to find the best one for your business. To help you get started, we’ve put together a list of the 10 best payroll software options in Singapore.
What is Payroll Software
Payroll software is a type of application used by businesses to manage and automate the process of paying employees. It typically includes features such as calculating wages, withholding taxes, generating paychecks, and maintaining records of employee hours and earnings. Payroll software can help streamline the payroll process, minimize errors, and ensure compliance with tax and labour regulations.
This software can also handle tasks such as direct deposit, employee self-service portals, tax filing, and reporting. It is designed to simplify the complex and time-consuming task of managing payroll, allowing businesses to efficiently and accurately compensate their employees while staying compliant with relevant laws and regulations.
Additionally, some payroll software integrates with other business systems, such as accounting and human resources, to provide a comprehensive solution for managing employee compensation and related financial tasks.
How to Set Up and Use Payroll Software
Using payroll software correctly and properly is essential for ensuring accurate and efficient payroll processing. Here’s a guide to help you make the most of your payroll software:
- Set Up Employee Information: Input all necessary employee information into the software, including personal details, tax information, salary, and any deductions or benefits.
- Configure Payroll Settings: Customise the payroll settings according to your company’s specific requirements, such as pay frequency, overtime rules, and tax calculations.
- Process Payroll: Enter the hours worked by each employee or import the data from a time and attendance system. Verify and approve the payroll data before processing to ensure accuracy.
- Handle Taxes and Deductions: Ensure that the software accurately calculates and withholds federal, state, and local taxes based on the employee’s W-4 form and other applicable regulations. Set up and manage deductions for benefits, retirement contributions, and other withholdings.
- Generate Payslips and Reports: Use the software to generate payslips for employees, detailing their earnings, taxes, and deductions. Run reports to track payroll expenses, tax liabilities, and other relevant financial data.
- Stay Compliant: Regularly update the payroll software to incorporate changes in tax laws, regulations, and payroll best practices. Keep accurate records of payroll transactions and ensure compliance with labour laws and regulations.
- Provide Employee Self-Service: If available, enable employee self-service features so that employees can access their pay stubs, tax forms, and other relevant information.
- Reconcile and Review: Reconcile payroll data with accounting records to ensure accuracy and consistency. Conduct regular reviews of payroll reports and data to identify and rectify any discrepancies or errors.
- Seek Training and Support: Ensure that payroll administrators and users are adequately trained to use the software effectively. Take advantage of customer support and resources provided by the software vendor to address any issues or questions.
- Maintain Data Security: Implement robust security measures to safeguard sensitive payroll data and ensure compliance with data protection regulations.
Following these guidelines can help you use payroll software correctly and properly, which consequently streamlines your payroll processes and minimises errors and compliance risks.
Benefits of Using Payroll Software
Managing payroll can be a complex and time-consuming process for businesses in Singapore. However, with the advent of payroll management software, this task has become more streamlined and efficient.
One of the most significant benefits of using payroll software is the automation of payroll processes. With this software, you can save time by automating tasks such as calculations and deductions, leaving you with more time to focus on other business operations. Additionally, these software solutions offer comprehensive reporting features that can help you track and manage payroll data efficiently.
Payroll software can also help reduce errors common in manual processing and increase compliance with local regulations. This can prevent costly penalties and legal issues that may arise from mistakes.
Another benefit of payroll software is employee self-service functionality, allowing workers to view their pay stubs, payslips, and other important information from a secure, online platform. This can enhance transparency and trust, as employees will have access to their payroll data.
Lastly, efficient payroll software benefits your business in Singapore by providing you with complete control and reporting of payroll data. Being able to see and understand the details of your payroll can help you to make informed business decisions based on reliable, up-to-date information.
Criteria for Choosing the Best Payroll Software
Choosing the right payroll software system is crucial for streamlining your business’s payment processes and ensuring error-free payment management. To help you make the best decision for your business’s needs, here are some key criteria you should consider when selecting a payroll software system:
Scalability
Consider your business’s current size and potential for expansion when choosing a payroll software system. Ensure that the software can accommodate your current workforce and payroll processes, as well as any anticipated growth. A scalable system will save you from having to change software as your business grows.
Integrations
Integration with other business systems is vital for efficiency. Select a payroll software that can easily integrate with your existing HR and accounting software. Software with smooth integrations can help automate data transfers and reduce manual data entry, which increases efficiency.
User-Friendliness
Choose a payroll software system that is easy to use and navigate. The software should have a simple and intuitive user interface to ensure that all users, especially those who aren’t familiar with software technology, can operate it with ease. A user-friendly payroll system can significantly reduce the amount of training required.
Compliance with Singapore’s Payroll Regulations
Make sure that the payroll software system you choose is compliant with Singapore’s payroll regulations. The software should have the necessary updates to meet local requirements, including tax computation and CPF submissions.
Pricing
Consider the pricing structure of the payroll software and choose one that fits your budget. Some software systems charge a flat fee, while others charge by the number of employees or added modules. Choose the software system that offers the best value for your business.
| Criterion | Explanation |
| Scalability | Select a software that can grow with your business. |
| Integrations | Choose a software system that can easily integrate with your existing HR and accounting software. |
| User-Friendliness | Select software that is easy to learn and use. |
| Compliance | Ensure the software system is compliant with Singapore’s regulatory requirements. |
| Pricing | Choose a software that offers the best value for your business. |
Advancements in Payroll Technology
Payroll technology has come a long way in the past few years, with numerous advancements being made to streamline the payroll process. These advancements have made payroll more efficient, accurate, and cost-effective.
Here are some of the most significant advancements in payroll technology:
Automation and Machine Learning
Automation and machine learning have revolutionised the payroll process. Many payroll software solutions now come with automation features that can automate tasks such as data entry, tax calculations, and payslip generation. This has reduced the time and effort required to process payroll, allowing HR managers to focus on more strategic tasks.
Also, machine learning algorithms can learn from past payroll data to make predictions about future payroll, making the process even more efficient and accurate.
Cloud-Based Innovations
Cloud-based payroll software has become increasingly popular in recent years. This type of software is hosted on remote servers and accessed through the internet, allowing for real-time collaboration and access to data from anywhere. Cloud-based payroll software also eliminates the need for expensive hardware and IT staff, making it a cost-effective solution for businesses of all sizes.
Additionally, many cloud-based payroll software solutions come with APIs that allow for easy integration with other HR software.
Mobile Solutions
Mobile apps have become an essential part of modern payroll software. Mobile apps allow employees to access their payslips, request leave, and clock in and out from their mobile devices. This has made it easier for employees to manage their payroll data, reducing the workload for HR managers.
Further, mobile attendance tracking has become a popular feature in payroll software, allowing employees to clock in and out using their mobile devices, eliminating the need for traditional time clocks.
Top 10 Most Reliable and Best-Reviewed Payroll Software in Singapore
2024 is an exciting year for payroll software solutions in Singapore, with the market offering a wide range of products that cater to businesses of all sizes. Here’s a comprehensive rundown of the top 10 payroll software options available.
Million Software: Comprehensive Payroll System for Small Businesses
Are you a small business owner looking for a comprehensive and easy-to-use payroll system? Look no further than Rockbell’s Million Software! The payroll software is designed specifically for small businesses and is packed with features to make managing your payroll a breeze.
With Million Payroll Software, you can easily process payroll for your employees, calculate taxes, and generate reports. It is also integrated with popular accounting software, so you can manage all of your financial data in one place.
| Key Features | Pricing Plans | Pros | Cons |
| Automated Payroll Processing | From $999 One Time Payment | User-friendly interface | Limited integrations |
| CPF and Tax Calculations | Robust reporting tools | ||
| Add On Modules Leave, Claim, Appraisal & Time Attendance System | Secure data encryption |
Why Switch to Rockbell’s Million Payroll System?
Tailored for Small Businesses:
- Million Payroll Software understands the unique payroll needs of small businesses and has designed its software to cater specifically to them.
- Avoid unnecessary complexity and expenses associated with larger payroll solutions.
Cost-Effective Solution:
- Small businesses can benefit from Million cost-effective payroll system, providing essential features without breaking the bank.
- No hidden fees or complicated pricing structures.
Integrated Financial Management:
- Consolidate your financial data by integrating the Million payroll system with accounting software.
- Enjoy a holistic view of your business’s financial health in one centralized location.
Time-Saving Automation:
- Automate repetitive payroll tasks, allowing you to focus on growing your business rather than spending hours on manual calculations.
- Reduce the likelihood of errors associated with manual payroll processing.
How to Get Started with Rockbell Payroll:
Sign Up for a Trial:
- Experience the benefits of Rockbell’s Million payroll system with a free trial. Explore the features and functionalities tailored for small businesses.
Customised Onboarding:
- Rockbell provides personalised onboarding Million support to ensure a smooth transition to the payroll system.
- Receive guidance on setting up your payroll processes according to your business requirements.
Continuous Learning Resources:
- Access a wealth of learning resources, including tutorials and guides, to maximise the potential of Million payroll software.
- Stay informed about updates and new features through regular communication channels.
Don’t waste any more time struggling with complex and expensive payroll systems. switch to Million today and see how easy payroll can be!
Talenox: Intuitive and User-Friendly Payroll Software in Singapore
As a business owner, you know that keeping track of your finances is crucial to the success of your company. Between managing inventory, paying bills, and ensuring that your employees are paid on time, there’s a lot to stay on top of. That’s why having a good payroll system in place is so important.
Talenox is a cloud-based payroll software that is designed to make your life easier. With Talenox, you can manage your payroll from anywhere at any time. The software is easy to use and offers a variety of features to help you stay on top of your finances.
One of the best things about Talenox is that it is very user-friendly. Even if you’ve never used payroll software before, you’ll be able to figure out how to use Talenox with ease. You can easily track your employee’s hours, calculate taxes and process payments. The software also includes a variety of reports so you can track your expenses and see where your money is going.
If you’re looking for payroll software that is easy to use and offers a variety of features, then Talenox is a great option for you. With Talenox, you can manage your payroll from anywhere at any time.
| Key Features | Pricing Plans | Pros | Cons |
| Cloud-Based Payroll System | From SGD 21.80/month | Seamless integration with HR | Limited advanced features |
| CPF and Statutory Calculations | Affordable pricing plans | Absence of mobile app | |
| Employee Self-Service | Real-time collaboration |
Kayaroll: Automated Time and Leave Management System
One of the most important and difficult aspects of running a business is managing payroll. Not only do you have to keep track of employee hours and vacation days, but you also have to make sure that everyone gets paid correctly and on time. This can be a daunting task, especially if you have a lot of employees. Fortunately, there are payroll software programs that can make your life a lot easier.
Kayaroll is one such program. It is an automated time and leave management system that can help you keep track of employee hours, vacation days, and more. It can also generate accurate pay stubs and help you with tax compliance. In short, it can take a lot of the stress out of managing payroll.
One of the best things about Kayaroll is that it is very user-friendly. Even if you are not particularly tech-savvy, you should be able to figure out how to use it without any problem. It is also very affordable, which is important for small businesses.
If you are looking for a payroll software program that can make your life easier, Kayaroll is worth considering.
| Key Features | Pricing Plans | Pros | Cons |
| Compliance with MOM Guidelines | From SGD 3.50/employee | User-friendly interface | Basic reporting capabilities |
| E-Leave and Claims Management | Affordable for small businesses | Limited scalability | |
| Customisable Payroll Reports |
PayDay: Cost-Effective Payroll Management Software
There are many payroll software options on the market, but PayDay is one of the most popular and affordable options. PayDay offers several features that can save businesses time and money, including
Time-saving features: PayDay’s automation features can save businesses a significant amount of time. Automated features include things like tax calculation, direct deposit, and check printing.
Accuracy: With PayDay, businesses can be confident that their payroll is being processed accurately. PayDay’s software uses the latest tax tables and compliance rules to ensure that all calculations are accurate.
Affordability: PayDay is one of the most affordable payroll software options on the market. There are no hidden fees or long-term contracts. businesses can sign up for PayDay on a month-to-month basis, making it a very cost-effective option.
Ease of use: PayDay is designed to be user-friendly, so businesses can get started using the software right away. The software’s intuitive interface makes it easy to navigate and use, even for those with limited computer experience.
PayDay is a great option for businesses looking for affordable, easy-to-use, and accurate payroll software. The software’s time-saving features can help businesses save a significant amount of time, and the customer support team is always available to answer any questions.
| Key Features | Pricing Plans | Pros | Cons |
| Automated Payroll Processing | From SGD 25/month | Comprehensive payroll features | Complex for beginners |
| Statutory Compliance | Dedicated customer support | Higher cost for additional features | |
| Employee Self-Service |
Singroll: Accurate and Easily Accessible Payroll Software
Singroll is one of the leading payroll software providers, and we are proud to offer our accurate and easily accessible payroll software to businesses of all sizes. Our software is designed to make payroll management easy, so you can focus on running your business.
With Singroll, you can rest assured that your employee payroll is in good hands. Our software is accurate and easy to use, so you can focus on other aspects of your business. Contact us today to learn more about our payroll software and how it can benefit your business.
| Key Features | Pricing Plans | Pros | Cons |
| CPF and Tax Calculations | Custom Quote | Multi-language support | Limited third-party integrations |
| Leave Management | Cloud-based and accessible | Limited customisation options | |
| Mobile App Access |
QuickHR: Flexible HR and Payroll Solution for Singaporean Companies
QuickHR is a flexible and affordable HR and payroll solution created with the needs of small and medium businesses in mind. We understand that every business is different, and that’s why QuickHR offers a customisable and scalable solution that can be tailored to your specific needs.
With QuickHR, you can keep track of your employee’s attendance, leave, and medical records in one centralised database. QuickHR also offers a comprehensive payroll system that can integrate with your existing accounting software. This makes QuickHR the perfect solution for businesses who want to streamline their HR and payroll processes.
| Key Features | Pricing Plans | Pros | Cons |
| Cloud-Based Payroll System | From SGD 5/employee | Integration with other modules | Steeper learning curve |
| Auto CPF and Tax Calculations | Mobile-friendly interface | Limited customisation options | |
| Employee Self-Service |
Ramco: All-in-One Payroll Management System
Ramco‘s All-in-One Payroll Management System is a comprehensive, cloud-based software solution that streamlines all your payroll processes – from employee onboarding to tax filing. With Ramco Payroll, you can manage your payroll with ease, save time, and ensure compliance with all the latest tax regulations.
Ramco Payroll is an ideal solution for small to medium businesses that want to outsource their payroll processing. The system offers a simple, user-friendly interface that makes it easy to get started and will save you time and money in the long run. Ramco also offers a mobile app so you can access your payroll data on the go.
With Ramco Payroll, you can:
- Automate employee onboarding
- Track employee attendance and leave
- Calculate salaries and taxes
- Process payroll deductions
- Generate payslips
- File tax returns
- manage your payroll with ease, save time, and ensure compliance with all the latest tax regulations.
| Key Features | Pricing Plans | Pros | Cons |
| End-to-End Payroll Solution | Custom Quote | Global payroll compliance | Higher upfront costs |
| Time and Attendance Tracking | Advanced analytics and insights | Complex interface for beginners | |
| Mobile App Access |
QuickBooks: The Most Popular Payroll Software in Singapore
QuickBooks is a popular payroll software in Singapore that is used by many businesses. It is a user-friendly software that can help businesses manage their payroll easily.
Many features of QuickBooks make it a popular choice among businesses in Singapore. QuickBooks can help businesses track employee attendance, leave, and salaries. It can also help businesses calculate payroll taxes and generate payslips. QuickBooks is a versatile software that can be used for both small and large businesses.
businesses in Singapore. QuickBooks can help businesses track employee attendance, leave, and salaries. It can also help businesses calculate payroll taxes and generate payslips. QuickBooks is a versatile software that can be used for both small and large businesses.
Another reason why QuickBooks is popular among businesses is its affordability. There are many subscription plans available that businesses can choose from depending on their needs. QuickBooks also offers a free trial so businesses can try it out before they decide to subscribe.
QuickBooks is a popular payroll software in Singapore because it is user-friendly and versatile. It is also very affordable, which makes it a great choice for businesses of all sizes.
| Key Features | Pricing Plans | Pros | Cons |
| Automatic Payroll Calculations | From SGD 8/month | Seamless integration with QBO | Limited HR features |
| Tax Filing Assistance | User-friendly interface | Limited customisation options | |
| Employee Self-Service |
Xero: Secure Payroll Software with Easy Customisation Options
Are you looking for secure payroll software with easy customisation options? Look no further than Xero.
Xero is a cloud-based accounting software that offers a wide range of features to help small businesses manage their finances. One of the most popular features of Xero is its payroll system.
The payroll system is very easy to use and can be customised to fit the specific needs of your business. You can choose from a variety of different pay periods, including weekly, bi-weekly, and monthly. You can also set up direct deposit for your employees, which is a great way to save time and money.
Another great thing about Xero is that it offers a free trial, so you can try it out before you commit to using it. Plus, if you decide to use Xero, you can rest assured that your data is safe and secure. All data is backed up in the cloud, so you don’t have to worry about losing any important information.
If you’re looking for payroll software that is easy to use and offers a variety of customisation options, then Xero is the perfect solution for you.
| Key Features | Pricing Plans | Pros | Cons |
| Cloud-Based Payroll System | From SGD 39/month | Real-time payroll processing | More expensive than other tools |
| Employee Leave Management | Integration with accounting | Higher cost for additional features | |
| Multi-Currency Support |
Infotech: Secure and Scalable Cloud-Based Payroll Software
In business, having a secure and scalable payroll solution is more important than ever. That’s why Infotech has developed a cloud-based payroll software that is both secure and scalable.
Infotech‘s payroll software is designed to help businesses manage their payrolls more efficiently. The software is easy to use and can be accessed from any internet-connected device. It also includes a variety of features that make it a versatile solution for businesses of all sizes.
One of the most important features of Infotech’s payroll software is its security. The software uses a variety of security measures to protect your data, including encryption, two-factor authentication, and access control. In addition, the software is hosted on a secure server that is constantly monitored by our team of security experts.
Another key feature of Infotech’s payroll software is its scalability. The software is designed to grow with your business. It can be easily scaled up or down to meet your changing needs. Additionally, the software can be customised to fit the specific needs of your business.
| Key Features | Pricing Plans | Pros | Cons |
| CPF and Statutory Compliance | Custom Quote | Customisable reporting tools | Limited user reviews |
| Employee Self-Service | Dedicated support | Limited information available | |
| Mobile App Access |
Quick Comparison Table
| Payroll Software | Key Features | Pricing Plans | Pros |
| Rockbell | Automated payroll processing, tax calculations | Starts at SGD 999 One Time Payment | User-friendly interface, robust features, Free Upgrade Files, Good Customer Support |
| Talenox | Payroll automation, leave management, employee onboarding | Starts at SGD 21.80/month per company | Intuitive interface, customisable |
| Kayaroll | Payroll processing, CPF calculations, statutory reports | Starts at SGD 3.50/month per company | Affordable |
| PayDay | Payroll management, tax filing, employee self-service | Starts at SGD 25/month per employee | Comprehensive features, scalable |
| Singroll | Payroll processing, leave management, attendance tracking | Contact for pricing | Easy to use, mobile-friendly |
| QuickHR | Payroll processing, employee self-service, HR analytics | Starts at SGD 5/month per employee | Integrated HR features, cost-effective |
| Ramco | Payroll automation, compliance management, analytics | Contact for pricing | Robust reporting, scalable |
| QuickBooks | Payroll processing, tax calculations, expense tracking | Starts at SGD 8/month per user | Seamless integration, accounting features |
| Xero | Payroll management, expense claims, timesheets | Starts at SGD 39/month | Easy to use, cloud-based platform |
| Infotech | Payroll processing, CPF calculations, statutory reports | Contact for pricing | Customisable
|
Conclusion
The payroll software landscape in Singapore is rich with options tailored to meet the diverse needs of businesses. Each solution offers a unique set of features, pricing plans, and benefits, making it crucial for businesses to assess their specific requirements thoroughly. Whether it’s seamless integration, user-friendly interfaces, or compliance with local regulations, payroll software suits every need.
Businesses can decide on selecting the optimal payroll software by thoughtfully evaluating the essential features, pricing plans, advantages, and disadvantages outlined in this review. This allows them to align their operational needs and budget with the most suitable option.