What is Paybooks?
Paybooks can assist Indian businesses and organisations in streamlining their payroll processes and workflows. This online payroll system offers a clean and intuitive dashboard, as well as a wizard that guides users through payroll duties with ease. Paybooks comply with all applicable laws and policies, and compliance reports can be generated directly from the system. Professional Tax, Income Tax, Form 16 Provident Fund, ESI, and other reports are among them. Salaries can also be sent out using the Paybooks system in an automated and safe manner.
What is sumHR?
sumHR is a FREE human resource management software for small and medium-sized organizations. The technology alleviates a significant amount of stress and manual labour associated with time-consuming HR processes. This guarantees that the appropriate focus is maintained on operations that involve not just a consumer but also employee satisfaction. SumHR stores all HR data, including employee profiles and corporate directories, in a totally automated manner. Because the options are primarily self-service, HR executives have the freedom to select and apply for the ones they want. sumHR's powerful and dependable processing engine ensures that payrolls are completed quickly and efficiently.
Comparison of sumHR and Paybooks
Paybooks' key advantage for Indian businesses is that payroll and all related operations are simplified and hastened. Companies can also rest confident that all of their payroll operations are compliant with Indian laws and standards. Paybooks is very simple to use, especially for those with no prior expertise with payroll software, because of its intuitive design and powerful Wizard.
When a company chooses to adopt Paybooks, employees receive a slew of perks. They can look at their payslips, Form 16, and year-to-date wage reports via Paybooks' self-service software on their mobile devices.
Paybooks can be used to file and submit leave requests and cost reports, and managers can accept or refuse them via the mobile app or email. Employees can also use Paybooks to plan and file their income tax returns.
Looking for a Paybooks substitute? Paybooks pricing starts at $11.00 per feature, per month for enterprises with 1000+ employees and includes a free trial. Paybooks is popular for 401(k) tracking, benefits management, and check printing, but it may not be the best option for you. There are many other items available that could be a great fit for your needs, whether it's the efficiency of use, budget, based opinions, or good value.
Features of Paybooks
- A cloud-based software
Thousands of businesses rely on a cloud-based, compliance-driven payroll and HR solution. An HR and payroll platform is ERP-agnostic and versatile, making it simple to set up and maintain in-house capabilities for a long time.
An online human resource management system for small and medium-sized organisations is the popular alternative. The cloud-based system includes payroll, application tracking (ATS), onboarding tools, e-signature, time-off tracking, and performance management, as well as easy reporting and an employee-friendly mobile app.
All-in-one HR Management software
The online ALL-in-One HR Management software has been digitized. Employees, leave, claims, attendance, and payslips may all be managed on one platform. Paying your employees is simple and quick. Payroll processing is made easier with a fully integrated and unified workflow.
There are various software suppliers that can be utilised instead of paybooks. SumHR can be a great alternative to paybooks as it is the most popular software in the market, and it includes all of the functionality listed above.
Features of SumHR
- HRIS platform with a comprehensive core
SumHR is a software platform that integrates all critical HR data. All employee information can be stored in one location thanks to the complete data. This human resource management system allows you to review HR metrics while avoiding the effort of maintaining many spreadsheets. The software's one-click MIS reports can be quite useful to the company.
- Attendance in a mobile biometrics system
Through the use of the clock in and out facilities, the program allows for efficient monitoring of staff attendance. It permits the creation of a progressive flexible leave policy for both the organisation and the employee. A time attendance report allows you to keep track of your employees' work and, in turn, your company's goals.
- Automated payroll that is quick and dependable
Through its powerful processing engine, SumHR delivers a cost-effective solution for payroll computations. It allows for unlimited pay structure input and accurate tax calculations. It not only benefits the company, but also benefits employees by ensuring that their salaries are paid on time, which enhances their morale.
SumHR makes it simple for employers to implement a flexible benefits plan for their employees. This user-friendly programme allows employees to choose from a variety of allowances and salary components, and it automatically generates their salary structure. Businesses can also set a restriction on the FBP component based on the employee's grade.
Add-On Feature of sumHR
- Salary account
An additional feature of sumHR includes that it offers free-of-charge software if an employer ensures that 50% of the employee salary account is opened with the sumHR. The feature for such a salary account includes a lifetime zero balance account with 1% cashback on all debit cards and UPI spending through such a salary account.
It also allows tracking financial insights through MF tracker, debt tracker, and other personal management tools. The rewards earned in the account can be instantly converted into cash or gold. Additionally, it provides free health insurance cover from ICICI Lombard 2 Lakhs base plan OR 20 Lakhs super top-up with a 3 Lakhs deductible. The health insurance also includes the following:
- Cashless hospitalization expenses for inpatient treatment
- COVID19 hospitalization expenses for inpatient treatment
- 30-day pre- and 60-day post-hospitalization expenses
- 150 daycare treatments
- Ambulance charges (up to 2500 INR per hospitalization)
- 2 online consultations per year
In case an employee spends on forex trading, charges of up to 1 lakh/month are free. With a salary account in sumHR, any day can be the salary day. Salary is provided on the date demanded by the employee.
Additionally employees have access to On Demand Salary & 1% cashback on all transactions made using the salary account
You can get started for free here.
Why choose sumHR?
There will be no bloated spreadsheets or complicated formulae.
- It's simple to learn and use.
- Pay as you go and use as much as you like.
- Payroll is simple, simple, and entertaining.
- Send fewer emails and increase your productivity.
- You get more than simply support; you get pals with knowledge.
- Your data will be kept safe and your privacy will be respected to the fullest extent possible.
Payroll software, rather than manual processing, is preferred by many businesses because it allows them to:
- Calculate payroll deductions and calculations more quickly.
- with minimal work, generate correct payslips, compute bonuses, expenses, holiday pay, and so on.
- Transmit HMRC returns and print P45, P60, and other employee forms
- automate certain procedures, such as year-end reporting, to decrease compliance costs and eliminate the need to grasp complex tax laws.
- Pay Stubs and annual reports should be stored in a safe, easily accessible way.
- Using payroll software to track time is a great way to save money.
- Payroll systems can be linked to timesheet systems that track employee data and working hours. By automatically transmitting information about hours worked into the payroll system, makes payroll computations much easier.
- Reporting is done with payroll software.
- By combining basic payroll data with information on attendance and hours worked, payroll systems may provide a multitude of reports. This enables in-depth examination of employee costs throughout the company, departments, and even specific projects and contracts.
- Keeping personnel files
- Most companies will also store other information about their employees, such as annual leave records. You can avoid the necessity for a separate software package by purchasing payroll solutions that record these additional forms of data.
- Using a payroll system to budget for future expenses.
- You can utilise projections provided by payroll systems to estimate staff costs and budgets by entering hypothetical numbers to see the precise overall cost of a person.
- Other payroll software capabilities may be more useful depending on your business needs.
Get the sumHR all i one HR & Payroll software that is modern, fun, and exceedingly simple to use. It's a cloud-based system that streamlines HR and payroll processes for startups and small and medium businesses. To get started you can click here
1. What are the features I get for free with sumHR?
sumHR offers following free features:
- Core HRIS
- Monitor attendance (web/biometrics)
- Track time-off / leave policies
- Automate payroll
- Free Health Insurance from ICICI Lombard
- On Demand Salary
- 1% cashback on all Transactions done on the Jupiter Salary Pro Account.
2. What exactly is payroll for a business?
Payroll refers to the compensation that a company owes to its employees for a specific period of time or on a specific day. A company's accounting or human resources department is normally in charge of it. Payroll for a small firm might be handled by the owner or an employee.
- Is it possible for self-employed people to have a payroll?
Some of these payment options may take longer to complete than others. When it comes to self-employed payroll, though, you have a few options. Self-employed people can perform their payroll by hand, with payroll software, or by hiring a bookkeeper.
- Who are the primary SumHR users?
SumHR's user group consists of the following individuals:
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