SeamlessHR has recently announced some exciting updates on SeamlessPayroll, our payroll management software.
The new product upgrade will help organizations manage their payroll even more seamlessly, offer additional security measures, improved compliance, and increased ease of use. Some of these updates include BVN validation, optimizing for multiple payroll run, new integrations, implementing Nigeria’s new financial act, and more.
Speaking about the new updates, Paul Ajayi, VP, Payroll & Partnerships at SeamlessHR, had this to say:
‘At SeamlessHR, we like to say that running payroll doesn’t have to be a headache. This is why the SeamlessPayroll team is constantly looking for new ways to help organizations optimize their payroll management, as seen in the long list of updates we’ve just rolled out. The new updates are a product of in-depth market research and feedback from our existing users. This is just the first of several to come.’
The recent updates on SeamlessPayroll include:
BVN check and validation
This new update allows system admins to choose if they would like to add BVN as a required field on employee profiles on SeamlessPayroll or not. SeamlessPayroll also enables admins to confirm if the BVN added by an employee is accurate while preventing multiple employees from filling in the same BVN.
Based on organizational policy, the BVN verification allows admin to authenticate and verify employees’ data with a minimum of fuss while saving payroll managers countless hours that would have been spent on the verification process.
Nigeria tax law updates
The recently published Finance Act, 2020, has had a definite impact on personal income tax, and by extension, payroll management. According to the new law, employees earning the minimum wage and below are now exempt from tax. Additionally, all tax reliefs (pension, NHF, etc.) are now deducted from the gross salary before computing the consolidated relief allowance (CRA).
Compliance with the FA 2020 Act has been implemented on SeamlessPayroll. Now, admins on SeamlessPayroll can choose if they wish to begin to use the new tax law in computing taxes for their company or not.
In addition to the existing admin roles currently available on SeamlessPayroll, a new Auditor role has been created. The Auditor permissions allow the user to view employees, view all payroll/system settings, payroll updates, payroll run, reports, as well as the permission to download payroll-related reports.
This is a useful access to share with your internal and external auditors, especially as they can only view payroll activities but cannot execute any edit or delete actions on the system.
SeamlessPayroll has optimized bulk actions on the system to improve the speed of completing payroll run. This allows admins to upload as many as 500 pay grades simultaneously, upload up to 500 payroll updates at once, and even run payroll for thousands of employees at the same time.
Multiple payroll run
This new feature has simplified payroll management for organizations that run multiple batches of payroll. Admins can now select how often they want to run payroll every month. Whether it’s one, two, or three times, SeamlessPayroll has got you covered.
In case differences exist between payroll batches, the system admin can adjust tax settings and choose the deductions and allowances to be processed in each payroll run. Additionally, admin can choose which payroll batch they will process certain pay items like allowances, deductions, tax relief, recurring updates, etc.
Just as seen with single payroll run, admins can still add payroll updates, run payroll, generate reports, and make disbursements for each batch while running multiple payroll.
SeamlessPayroll has effected a Flutterwave integration to enable a more straightforward process of disbursing salaries and remittances using the Flutterwave platform. So, if your organization has some banking challenges, payday can continue as planned with the new Flutterwave integration.
Other recent SeamlessPayroll updates include a Google and Microsoft authentication for ease of login and giving admin the option to display year-to-date gross values on the payslip.
SeamlessHR is committed to revolutionizing payroll management across Africa and other emerging markets with SeamlessPayroll, its world-class compensation and benefits system that allows organizations to simplify payroll, remit statutory deductions, and manage employee benefits, among others.