For small business owners or managers, finances are among the most important considerations for the success of the business. While the majority of financial considerations are strictly internal, payroll is one vital activity that cannot be neglected or taken unseriously. Payroll is also the biggest single expense for most businesses, so it is important to process it accurately and efficiently.
As your business grows and the number of your employee’s increases, you begin to seek a better way to manage your payroll and ensure everyone gets paid when they need to (what a good way to keep employees happy and motivated).
Here are five of the best payroll software solutions for small businesses in Nigeria:
TalentBase is a payroll software for growing businesses across Africa. The solution allows business owners and managers to easily add employee pay, allowances and other statutory deductions onto the platform. You can also remit payment directly from your account into employee bank accounts.
Aside from payroll, Talentbase solution also has some awesome features such as Tax Automation (ability to calculate PAYE tax for all your employees), Expenses Management for all employees and ability to automate your leave management process.
PrimePayroll is an enterprise cloud service for payroll and human resource management. Many small business owners and organizations still face payroll management and HR challenges in the day-to-day administration of their business. In addition, the upfront cost implication of purchasing and setting up legacy payroll systems, together with the required infrastructure setup can be prohibitive and financially be tasking.
PrimePayroll takes care of your payroll and HR administration, giving you the freedom and flexibility required to grow your business. PrimePayroll is safe, efficient and simple to use with zero upfront investments, all from the comfort of your internet-enabled PC or mobile device.
TAMS is a cloud-based biometric solution with a bouquet of services for human resources management. TAMS is flexible and offers many user-friendly options to tailor the system. You can define an unlimited number of deductions and designate taxability and frequency for each. The system accommodates virtually any form of employee benefit, loans, and contributions plans.
Since all of our applications are Web-based, employees can log into the system with their username and password. Immediately the Web pages that they have security to access will be made available for employee self-service functionality.
Sage Payroll was released to the Nigerian market in July 2017. Sage One Payroll seamlessly integrates with its accounting software, offering a complete business solution for start-up and small businesses.
Sage One Payroll is a smart online payroll solution that can be accessed 24/7 from the cloud. The solution caters for local tax and legal requirements. It allows unlimited earnings (owed to employees) and deductions (what the employee owes). The software makes it easy to calculate employees’ net salaries or wages, as well as deductions such as Pay-as-You-Earn (PAYE) and contributions to National Housing Fund (NHF), National Health Insurance Scheme (NHIS), pension and life insurance.
PayDayNG makes HR tasks easier. PaydayNG Payroll software is software that helps business owners and managers to perform payroll, deductions, and tax-related functions effectively. It also tracks all activities of an employee in an organization.
The payroll software has a role-based privilege system that is easy to set up for employee role and authority. Also a separate dashboard for each employee and manager.
No two small businesses are the same. When choosing small business payroll software, the business owner should consider factors such as the size of the company, available budget, level of comfort and familiarity with the solution and also customer support of the payroll solution provider.
We’d love to hear your views and thoughts about the above-listed solutions in the comments section.