Many firms are finding it necessary to invest in better data processing programs. This is because they are aiming at providing high end services to both their employees and customers. Preparation of payrolls is a significant activity performed by human resource officers. However, executing this task has remained a challenge to many managers, who lack proper tools to handle it effectively. MyPayfriend is exceptional software that facilitates effective processing of payrolls. This software has splendid features that are user friendly, and they can be discussed as follows.
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MyPayfriend is equipped with guidelines settings, which are defined by the user. This means that it can manage several policies like work and payments schedules. It has a vibrant auto attendance scheme that has the capacity to merge with different kinds of time. This enables it to track personnel attendance. Salary deductions and incentives can easily be determined through quantitative approaches. The ability to support multiple payment modes is a significant aspect of this software. Moreover, these forms of imbursement work in tandem with all compensation programs.
Automated loan processing is another remarkable feature of MyPayfriend, and it makes automatic loan deductions from pay slips. It also generates loan statements, which can be mailed to various employees servicing their loans. Leave accruals can be calculated through various mechanisms such as pro-rata basis of vacation privileges together with overtime adjustments. This software provides the option of editing a pay slip even after processing payments.
Before an employee quits, MyPayfriend makes final calculations that are based on benefits, salaries and charges, depending on a company’s regulations and government guidelines. It also has a multi-currency operation system that enhances easy exchange of currencies. Workers and vendors can, therefore, get their earnings in various currencies.
Apart from these data processing features, this program has the following system features. Its software configurations can be easily customized, and it can work in one or multiple systems. Besides this, it can be easily integrated with other programs. Its security settings can also be adjusted according to an individual’s preference. Lastly, MyPayfriend has an elaborate support system, with automatic update features.