In this article, we will be enlightening our small business readers about us. That’s right! We will be providing you with a comprehensive understanding of Humanised and our focus on the payroll in terms of how we satisfy your payroll needs.
Introduction to Humanised and its payroll service provider focus + small business simplified staff payroll experience
Beta Launch Pvt Ltd founded humanised in 2020, which happens to be a reputed software development company in Australia and Sri Lanka. Humanised was specially made to cater to the payroll needs of different industry professionals from reputable local Chartered Accountancy and Management Consultancy firms. At Humanised, our focus is to assist payroll service companies in optimizing and growing their payroll businesses through automation and providing payroll-specific marketing assistance.
Humanised mainly focuses on the usual client organization size: Chartered Accountancy firms and small businesses to medium enterprises. It usually caters to service-based industries and provides customized services to suit their requirements.
A quick mention of Quickbooks integration and Xero integration for integrated accounting and payroll for small businesses + how the payroll–accounting integration works
Quickbooks and Xero are two accounting software packages used for integrated accounting and payroll for small businesses. At Humanised Payroll, we have integrated the services of Quickbooks and Xero into our application. Our small business merchants and Chartered Accountancy firms get to decide if they want to integrate their payroll with Quickbooks and Xero through our payroll application.
Accordingly, Humanised syncs data from Quickbooks and Xero to its platform and creates expenses. Particularly reimbursements. For example, Sanaka Ltd is a small business with its payroll integrated with Quickbooks. An employee from Sanaka Ltd uses our Humanised Application to enter his stationery expense incurred on behalf of his employer, and the manager has to approve it. After the amount incurred has been reimbursed, a record of it will be shown in Quickbooks.
It’s important to note that after the payroll has been completed, records, namely EPF, ETF, and the employee’s Gross salary, are produced and created in Quickbooks or Xero since Humanised Payroll is integrated into Quickbooks and Xero.
Conveniently process payroll on one side and enjoy auto salary cost updates on Xero and QuickBooks
Through Humanised payroll, we ensure that the payroll of numerous firms is conveniently processed and their auto salary costs are updated on Xero and Quickbooks easily. Therefore, we will explore how we do this process in the subtopics below.
How do we process payroll at Humanised?
At Humanised, we offer payroll services and record your firm’s expenses or reimbursements. The Benefits and features of Humanised Payroll are:
- Collecting mandatory details such as the employee’s name with initials, full name, preferred name, NIC, employment details, payment details, bank details, and current experience.
- Providing monthly and annual customizable reports such as payroll summary reports, detailed payroll reports, leave reports and employee headcount.
- Offering the required files and forms that are necessary for compliance. For example, we offer the EPF “C Form” for monthly remittance and ETF forms such as the “R4 Form” for monthly remittance and “Form ll” for the half-yearly ETF report.
- Providing easy bank transfers for salary remittance.
- Rerun payroll, where you can use the same data of an employee’s previous salary to run the next month’s salary.
- Providing automated salary slip generation to an employee’s email or else it can be a downloadable pdf through the Humanised software, a web-based solution that is mobile responsive.
Based on these benefits and features, our payroll generates accurate EPF, ETF and Gross salary along with expenses known as reimbursements to ensure that firms have sufficient money to pay their employees’ salaries.
What happens next?
The payroll and expenses data get synced with Xero or QuickBooks and saved for bookkeeping records.
Payroll sync
Once the payroll gets synced with Xero or Quickbooks integration, the administrator can:
- See the completed payroll data summary recorded on the Xero or Quickbooks platform.
- Receive notifications if integrations have expired or require any necessary action.
- Toggle a setting to sync payroll data with integrations.
Expense sync
Once the expenses get synced with Xero and Quickbooks integration, the administrator can:
- View approved/paid expenses data on integrated platforms.
- Receive a notification when rejecting approved expenses asking whether to sync data.
- Receive notifications if integrations are expired or require any action.
- Toggle a setting to sync expense data with integrations.
A first in the local landscape allowing both accounting firms/payroll specialists and small businesses to streamline accounting and payroll and focus on core business or business growth
Chartered accountancy firms undoubtedly have their core business focus on taxation, audit and assurance, and consultancy services. Similarly, small businesses have their internal payroll to ensure employee job satisfaction and no salary delays. Accounting requires accurate salary calculations, which can only be achieved through a more straightforward and efficient integrated payroll system. By integrating accounting and payroll, chartered accountancy firms, payroll specialists, and small businesses handling payroll can control:
- Compensation
- Benefits
- Taxation
- Accounting journals
That being said, below are the reasons why accounting firms/payroll specialists and small businesses need to streamline accounting and payroll while keeping the core business or business growth in mind:
1. Maintaining and protecting the firm’s profitability
To run a profitable accountancy firm or small business, you must first consider the employment costs. These include the employee costs as a percentage of revenue, overtime, employee grade, and costs between teams. To get a complete understanding of the employment costs, it’s essential to integrate accounting with payroll, which will help you identify:
- If the firm or business has too many or few employees.
- If one team is more profitable than the other. If so, why?
- What’s the most beneficial way of operating a firm or business overtime.
2. Tax corrections
If accounting and payroll are integrated, it’s easier to calculate tax. Regardless of whether it is a chartered accounting firm or a small business, every firm has different kinds of employees. Some of them are full-time or part-time employees or interns. Each category of employees has its own set of paperwork and tax calculations which need to be complied with. Therefore, accounting and payroll integration will do the trick.
3. Less effort and no time delay
Everyone in the firm will have access to the same data. Integrating accounting and payroll will ensure there is no room for errors. In this manner, accounting firms, payroll specialists and small business employees don’t have to worry about detecting payroll errors and filling in the gaps. This makes them pay attention to their core business functions and improve business growth.
4. Avoids repetition and duplication of payroll
You need to submit employee details only once when integrating accounting and payroll. This enables payroll and accounting to cooperate and reduce the number of time-consuming data entries. In this manner, accounting firms, payroll specialists and small businesses would be able to simplify operations, save time, increase business productivity by focusing on the core business and business growth and eliminate duplicate payroll entries.
5. Smooth workflow for accounting firms
Most accounting firms have to make bank transfers to their clients’ employees once the payroll has been calculated, calculate the income and expenditures of firms, etc. Manually calculating the financial performance of a company and salary can be a hectic procedure since accounting firms have a considerable amount of client base to focus on when the salary dates are nearing. Therefore, by integrating accounting and payroll software, financial performance and accounting will be improved more, and salary payments can be paid much faster. Moreover, it will capture real income and expenses data.
6. Less burden for payroll specialists
There is no need to hire payroll specialists to manually detect payroll errors and do the payroll for small businesses by integrating accounting and payroll. All the relevant and required data for payroll will be stored in the system, and it can be referred to on mobile phones.
It also reduces the hefty cost of hiring a payroll specialist to control the company’s business.
Therefore, we have now come to an end to this article. We hope you have gained a comprehensive understanding of payroll software and how the Xero and Quickbooks integration works with our own Humanised payroll. Feel free to consider us for any of your payroll requirements, and we will be happy to help you out!
Resources
https://www.experlu.co.uk/blog/10-reasons-you-should-integrate-payroll-bookkeeping-accountancy/
