Payroll software is designed to automate every step in the payroll process for all sizes of businesses. It helps you manage payment for your employees by making it easy to set up direct deposits, withhold payroll taxes, and keep accurate records so you don’t get fined. Clocking in integrations also make it easier to track and manage employee’s productivity.
It can be time-consuming when all of these processes are done manually, and it’s easy to make a mistake.
Typically, many offer customizable plans, so you can select the functions you need.
So, to help you choose the right payroll software for your business and avoid failures, we have considered different payroll solutions on the basis of cost, ease of use, important customizations and integrations, convenience, reporting features, and support.
The software mentioned below may or may not be in the order of their rankings but are the ones that are regarded as the best and most popular in Nigeria. Hence, the 5 best payroll software commonly used in Nigeria are:
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Invex Payroll
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QuickBooks Payroll
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Zoho People
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Paycor
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Payroll4Free
Invex Payroll
Invex HR/Payroll software automates key processes to help you run an efficient business. It is a user-friendly and flexible HR management solution for more effective employee management, easier and faster payroll processing and pay slip generation, even when clocking in integrations are involved.
Invex Payroll software will help you:
Some notable companies using Invex Payroll software are PetroBase Group, Hydroferric Marine, Mertesacker Nig. Ltd., Moreplex TV, Chify Nig. Ltd., Foru Solutions Ltd., etc.
Features and advantages of Invex HR/Payroll software
Invex HR/Payroll software portfolio is suitable for businesses of any size, with the following features:
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Make payroll convenient
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Competitive pricing
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Fast and satisfactory support from solutions experts
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Compliance to existing latest legislation on salary, and wages.
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Easy accessibility to employees
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Automated processes for optimized results
Invex HR management software gives administrators and managers complete employee records and histories, with soft copy of employee’s credentials and certifications, and the generation of contracts and legal documents. HR managers can also capture health checkup, work permit and monitoring records.
Invex HR management software will help you to prepare and process payroll, generate pay slips, annual reports, accounting, payment management, and expenses, time and activity tracking. Plan your employee budget, company segmentation, and manage time and activities. Monitor employee attendance and manage their sick and annual leave, and plan for staff emergencies. Manage work hours, shifts and cycles, as well as bonus allocation and leave entitlement.
It gives you the ability to quickly adapt to clients' changing demands and market pressures using flexible business processes and real-time analytics.
You can map and track employees’ skills and competencies, and map and define their job roles, including skills requirements using Invex HR management software. This information can then be used to determine their performance management requirements – skills assessments, training programmes and internal skills transfer plans.
This payroll software can help you generate payroll in the right format to upload to any third-party payment platform, like your bank salary payment platforms.
Manual payroll processes and systems are time consuming and it is easy to make errors. But, for whatever size of your business, Invex Payroll software can help you manage employees pay successfully by streamlining and automating payroll processes like pay slips and tax calculations. You will never have to worry about pay slip errors impacting employee relationships.
Invex Payroll is the overall best HR/payroll management software when considering key features such as cost, ease of use, important customizations and integrations, convenience, reporting features, and support. It conveniently suites all sizes of businesses – small, medium, and large.
QuickBooks Payroll
If you’re already using QuickBooks for accounting, then QuickBooks Payroll is our easiest to set up option, as everything will be automated, and it’s going to be an intuitive program for any QuickBooks user. You’re unlikely to need to contact support for help because the tutorial and knowledgebase are so thorough. Even if that’s not working for you, a quick search online will send you to a multitude of walkthroughs.
Pros:- Easy setup and intuitive interface
- Seamless integration with QuickBooks accounting software
- Fast direct deposit options
- Not a good value for the cost
- Time track on the go feature not available in lowest-tier plan
Zoho People
Zoho People is a good option for budget-conscious small businesses because it offers a free employee database and PTO tracking for businesses with fewer than five employees.
After that, you’ll have to pay, per month to cover everything from onboarding to files management, performance management, and recruiting.
It provides a range of HR tools and allows you to pick and choose what you need. Employees can access a self-service portal for common functions like requesting PTO, etc.
Paycor
Paycor’s core service is payroll, but it also provides solid HR support.
It’s great if you can take advantage of its feature-rich custom plan. But, if the features in its lower plans suffice, you can find cheaper options.
It’s best for businesses with multiple locations and hourly workers who travel to those offices because it provides an automated time tracking system that makes it easy to track time. This tool is customizable and can be used across multiple offices; reporting is set up so that each location has a unique identifier, minimizing any reconciliations that need to be done. You can also use its shift scheduling tool to plan their workdays in advance more efficiently.
Payroll4Free
Payroll4Free is the best free payroll service you can find that’s truly free—as long as you’re willing to do a bit of manual work. You won’t be able to file payroll taxes or pay your employees via direct deposit, unless you’re willing to fork out a low payment. If you have a business with fewer than 25 employees, this would be a step up from a pen-and-paper method of doing payroll.
Pros:- Free to use
- Inexpensive to file taxes and pay via direct deposit
- Limited features
- Setup is totally manual
Payroll4Free is the only free software that allows for all the administrative components needed to run a payroll. Essentially, Payroll4Free lets you input hours for payroll for your business, leaving a lot of the administrative tasks up to you. It’ll calculate things for you, though. Setup is manual, but it includes a setup tool to help you enter the right information in the right places. This leaves room for error, but that could be said for many payrolls software tools.
There are other reliable HR/Payroll management software. However, these five are the best according to user reviews in Nigeria’s demography.
Whatever your HR management goals are, you can almost certainly rely on these software for better management of your business processes, no matter the size or scale.
We hope this article helps you make better and more quality HR management decisions.
So, to find out more, begin your journey by calling us on +234803 458 9805, +234708 881 1463 or +234907 666 7747. And, if you’d like more information, visit www.excellentbridge.com