Having the right payroll software in Malaysia can significantly contribute to the success of a business. However, with so many options available in the market, selecting the right one can take time and effort.
Regardless of whether you are a small startup or a medium-sized enterprise, there are payroll software solutions that can cater to your specific needs.
What Should You Look For When Choosing Payroll Software?
Before choosing payroll software, evaluating if it fits your business’s needs and goals is essential. Some key factors to consider include:
1. Pricing
Evaluate the payroll software’s pricing structure and overall cost, including additional charges. It’s crucial to ensure that the pricing model is transparent and aligns with any budget constraints you might have.
2. Ease Of Implementation
Opt for one that is easy to implement and user-friendly, with a responsive support team to assist you with any questions. A straightforward onboarding process can save you valuable time and resources while enabling your employees to quickly learn and adapt to the new system.
3. Automated Tax Filing
Using payroll management software that automates tax calculations and filings is advisable to ensure accuracy and compliance and minimise risks. This can ultimately save time and money.
4. HR and Payroll Software Integrations
Choose a payroll software that integrates with your HR software to reduce duplicate data entry and enhance efficiency.
Top 5 Best Payroll Software in Malaysia
Info-Tech
Info-Tech is an established company with 28 years of industry experience, having started its operations in 1996. With 1 million users for our mobile app, with 20,000 of them being customers, we are one of the fastest-growing companies in Singapore and won the best payroll software award in HR Vendors of the Year 2023. Apart from Malaysia, the company is in Singapore, India, Hong Kong, and Australia. Info-Tech is known for being a next-generation HRMS and accounting software company, and they take pride in it.
The Features
Info-Tech payroll software is approved by LHDN, KWSP, SOCSO and most banks in Malaysia for interbank giro transfer for salary. With automation for LHDN and EPF, taxes and employee contributions are handled with ease and minor errors.
It also seamlessly integrates with other modules like time and attendance, leave management, expense claims, appraisals, and project cost management to simplify your payroll process. Thanks to its integration with HRMS software, it can link employees’ leave, claims, and attendance data with payroll for immediate calculations.
The software also provides over 50 customisable reports, such as comparison reports and monthly or yearly payroll summary reports.
Kakitangan
Kakitangan has been serving Malaysian SMEs for eight years, providing personnel management support that helps businesses improve productivity and employee satisfaction. They prioritise innovation and continuous improvement, upgrading business operations and streamlining HR workflows to help companies succeed.
The Features
This platform provides a complete solution for managing employees. It includes features such as E-Payroll, E-Leave, E-Claim, and E-Attendance, simplifying the entire process for employers and employees. The platform’s cloud-based payroll solution makes it even easier to manage employee information. In addition, a premium option offers enhanced security and online consultation sessions with HR industry experts.
PayrollPanda
Payroll Panda is an online HR and payroll software thousands of Malaysian SMEs use. Their software supports business owners and HR managers in their daily HR operations. One of their key selling points is that their software is incredibly user-friendly and requires no training. Additionally, PayrollPanda is committed to continuously improving its product, with new updates released every two weeks.
The Features
PayrollPanda provides a comprehensive set of payroll tools to streamline your payroll process. Their features include eLeave management, easy form generation, employee self-service, and API integrations. They are fully compliant with statutory regulations and eligible for HRDF claims. PayrollPanda offers ample support to small startups and medium-sized enterprises alike.
HR2000
i-Payroll by HR2000 is a comprehensive web-based software that combines payroll, HR, time management, leave, claims and appraisals into one easy-to-use system. Meanwhile, QuickPay is a user-friendly Windows-based payroll and HR management software for Malaysian labour law compliance. Since 1999, they have been providing reliable payroll and HR solutions.
The Features
As an employee self-service system, the i-Payroll of HR2000 simplifies processes and enables employees and department managers to manage leave and claim processes efficiently. Additionally, QuickPay facilitates easy data entry and lets you complete your monthly payroll tasks in just four simple steps. It supports over 50 bank formats and lets you quickly generate monthly, yearly, and statutory reports for government reporting.
SQL Payroll
Over 270,000 companies use SQL Account and SQL Payroll, empowering 600,000+ accounting and business professionals. SQL Account is customisable, increases efficiency, and offers a range of features, including accounting, inventory, POS, Payroll, Mobile Solutions, and Artificial Intelligence OCR. It can be seamlessly integrated into your business workflow.
The Features
Payroll processing has been made easy, accurate, and secure with the help of encrypted payslip passwords, automated calculations of Malaysian statutory contributions, and the electronic submission of salary payments to over 25 Malaysian banks. Moreover, employees are kept in the loop with their dedicated dashboard, where they can manage their leave requests, view their past payslips, and access their records of EA forms. On the other hand, the manager dashboard enables managers to check their employees’ daily attendance, manage their leave requests, and generate leave balance reports quickly and easily.
Conclusion
Are you tired of dealing with complex payroll processes? If so, consider using cloud payroll software to simplify the task. Choosing the right payroll system can be daunting, but your business administration will become seamless once you switch to digitalisation.
It’s important to remember that the best cloud payroll software isn’t necessarily the cheapest or the one with the most features. Instead, the best software for your business is the one that can work well with your daily business conditions while also empowering your management controls as business owners.