Just like other business sectors, the real estate industry is also experiencing technological expansion since the pandemic. This transformation has led the industry to deploy different cloud-based automation tools to streamline and simplify their daily business tasks.
Various tools, such as CRM, accounting, HR platform, time tracking, payroll platform, etc., are available to make any real estate business well-structured. However, in this article, we will specifically talk about 7 top payroll software that can be beneficial to your real estate industry.
If you are a business looking for such a tool, keep reading the post. Let us first understand what payroll software is.
What is Payroll Software?
Payroll software is a cloud-based platform that helps organizations manage, record, and automate their employee salaries. With its integrated, configurable, and flexible functionalities, organizations comply with tax laws to reduce the burden on the HR professional.
It also provides varied features, such as arrear calculation, loan and advance management, payslip generation, reports, analytics, etc. The best part is that such solutions also come with a user-friendly mobile app that empowers employees to access relevant information conveniently at their fingertips.
7 Top Payroll Software Options
Now that the definition of payroll software is clear in your mind, you can compare various vendors to guarantee your business’ success. But to make this task easy, here is a list of the best solutions for your real estate business.
Gusto
Gusto is a leading solution that helps you manage your employees’ payroll and benefits administration in a single, secure place. It allows your payroll professional to overcome manual errors, time consumption, and security queries quickly to provide employees with accurate salaries wherever they are.
The process can be completed in just a few clicks, ensuring complete compliance. Furthermore, with its easy-to-use interface, you can get acquainted with this tool in less time. This helps you focus on your essential tasks and people strategy.
Other features of Gusto
- Endless pay runs
- Inbuilt benefits administration
- Automatic tax filing (local, state, and federal)
- Integration with internal features like health benefits, 401(k), time-off, worker’s compensation, etc.
- Integrated with third-party apps like Xero, TSheets, QuickBooks, and many more.
- Paperless salary access with the Gusto debit card
factoHR
factoHR is a comprehensive payroll solution that makes salary calculation easy. You don’t have to be an expert to calculate salaries because factoHR will always do that for you. You can easily manage and record wages online. Its cloud capabilities ensure that your data remains secure and accessible from any device.
Additionally, your agents can access their payment details and download their payslips through the ESS portal and mobile devices easily. The software also supports multiple languages and formats. It offers a connected banking feature that integrates with ICICI Bank allowing you to transfer employees’ salaries directly into their bank accounts from the factoHR portal.
Other features of factoHR
- Flexible policy configuration
- Unlimited payroll components
- Auto-arrear calculation
- Performance linked payroll
- Loans and advances management
- Full and final settlement
- Automatic compliance management
- 200+ Payroll report generation & custom report builder
Zimyo
Being a growing business sector, you have to ensure quick and accurate salary payments to your employees, and Zimyo can make that possible in 3 simple steps. Whether it is the old tax regime or the new, salaries can be calculated here very accurately. This payroll solution also helps you calculate other one-time payables, such as bonuses or incentives.
It readily integrates with internal modules like attendance, engagement, and core HR, as well as third-party apps. This empowers you to give time to your business planning and other employee-centric activities. If you want to manage your reimbursements, Zimyo will help you pay that faster to your workforce.
Other features of Zimyo
- Automatic compliance calculations and tax filing
- On-time payment disbursal
- Impeccable customer support
- Mobile app to regularize attendance
- Simplified deductions and calculations
Rippling
The payroll software offered by Rippling is robust and adaptable to any business size. Even if you are a company looking for a tool that scales as your business expands, you should go for this. The platform gathers all the necessary data required to process payroll and performs the process in less than 2 minutes. All your manual work comes to an end.
With the dedicated mobile app, employees can conveniently download payslips, submit leave applications, and check their W2 forms, so HR is not always surrounded by queries. The platform offers 500+ integrations to help you manage your significant activities under one roof. To reduce data manipulation, you can effectively assign tasks to your people with controlled roles and rights management.
Other features of Rippling
- Various tax form filings like I-9s and W-2s
- Inbuilt library of reports
- Workflow automation
- Alerts and approvals configuration
- General ledger mapping to simplify accounting
- Handle global payroll easily
- Manage employee garnishments
Patriot
Patriot Software is an all-in-one payroll management tool that is affordable to businesses. It can be used to manage payments, accounting, and tax compliance. Whether you want to manage compliance yourself or from the system, you can choose a suitable plan for your organization.
You can easily calculate salaries for your full-time and contractual employees. The software is so powerful yet user-friendly that your employees can adapt it within a quick time.
This helps you improve your business processes in no time, allowing you to concentrate on growth. While managing payroll, you can customize calculations for working hours, CTC rates, pay cycles, earnings, deductions, and business locations.
Other features of Patriot
- Report generation for department-wise payroll cost
- Completely free payroll configuration
- Employee insurance management
- Easy pay stubs download
- Expert support whenever required
- Free employee portal
- Accurate tax filing
Oracle
Offering a unified HCM solution, Oracle is one of the most preferred choices of real estate companies to handle how they pay employees. It is reliable software to get 100% compliant payroll worldwide. The software is suitable for organizations regardless of their size, location, and employee types.
This digital system is facilitated with a global reach in around 13 countries to help you handle your tasks very smoothly. Its biggest advantage is that employees don’t have to wait for their payment date. Instead, they can access their salaries whenever they need.
Even if there are any last-minute HR changes, the software will reflect retroactive payments.
Other features of Oracle
- Configure complex payroll rules and workflows
- Automatically gather data required to process payroll
- Unified experience for the users
- Easy-to-implement integration
- Advanced control over HR and payroll processes
Paylocity
If you want a solution that can manage every aspect of your payroll process, Paylocity can be an ideal platform. Streamlining payroll workflows is a breeze with this tool. In addition, it controls all the tax laws and forms filing.
You can add employees’ reimbursements to their pay stubs. Save your time in addition to disbursing accurate employee remuneration.
You can reduce the use of spreadsheets, calculators, or manual signatures to finalize the process because everything will be available in the software.
Other features of Paylocity
- Configuration of general ledger, leave accruals, and reports
- Check and reconcile pay data before actual disbursement
- Integration apps to control 401(k) data and other benefits
- Visual dashboards to access key metrics
- Process garnishments without errors
Conclusion
Now that technology is expanding in every direction, not using one can drag you out of the market. Choosing payroll software can be very beneficial to the organization for its survival. To make the best use of such technology, you have to understand your organizational needs. It will improve the business processes and promote growth in every department.
