An invoice or bill indicates the sale or supply of products or services by one business to another or consumer. Ideally, the invoice shall contain information about each transaction, buyer’s details, quantity, value, tax, and payment terms. Payroll is another important function in an organization for disbursing compensation to its employees. A payroll report has the further utility for filings of compliances like TDS, PF, ESI, PT, and more. While billing or invoicing generates revenue, the payroll activities fall under the expenditure head. Overall, the effort of all enterprises is to create surplus through billing, and thus meet the requirements of salary and other payments.
There are plenty of software tools for billing or invoicing. The majority of such software is structured to meet specific country invoicing or limited to specific circumstances. Similarly, the tools for payroll are abundant in the market. The arrival of the excel sheet generated automation in payroll, followed by the development of standalone software. Of late, many companies have quickly assembled multiple tools in the mobile apps to speed up their activities. This market is much revolutionized with cloud-based software.
The cloud-based software as developed and sold under the brand name – Smart Admin has many of the features needed for small and medium enterprises to meet their need for billing and payroll software. The cost of subscription is the lowest in the industry for Smart Admin, and it helps enterprises to move to the digitization era with the least investment. The tools of Smart Admin under billing and payroll help to generate invoices, configure invoices per each country’s legal requirements, and generate tax reports / monthly reports in addition to generating payroll. The timesheet entry of each staff member will result in a set of data points in the system. Smart Admin uses such data points and further generates billing and payroll. It easily automates and process payments to the workforce as well as generates an invoice for the work done.
The subscriber has the option to display required data in billing, update the data points with approvals, and generate reports. Smart Admin has the feature to automatically apply rates in invoices based on the initial data configuration. The initial estimate as generated while agreeing for a business transaction will turn out to be an invoice or bill and the same will be further used for generating receipts and monthly reports. Thus, it saves a huge lot of repetitive tasks and harnesses the data points in an organization to generate the required reports.
The salary package can be created in multiple combinations for employees that match with their offer letter. The automated time tracking and attendance data points are used further to generate pay slips. The employer can configure and rename allowances, and deductions and can set up custom rules to complete the generation of pays lip. The feature of leave and its activation results in capturing all paid leave, absence, and overtime. The option to claim reimbursements, loans, and tax deduction further simplify much of the manual work.
The minute features incorporated in Smart Admin, and the product sophistication with unique features differentiate SmartAdmin from many of the other comparable products available in the market.
SMART ADMIN is a cloud-based software for generating GST Compliant Invoice, Payroll management, Timesheet, and Project Tracking – visit SMART ADMIN for FREE Trial and Registration.
Dart
Bengalore