The payroll is one of the biggest outlays on a company’s balance sheet and needs to be well managed. To manage and simulate your company’s payroll, you need suitable software, such as Talentia HR Suite, a solution developed by the software producer Talentia.
Why carry out a payroll simulation?
Based on the definition issued by INSEE, the French national institute of economic statistics, the payroll refers to the total gross wages to be paid to the company’s employees. In other words, it refers to the total sum of all salaries, without including employer’s contributions and various payments in kind. A payroll simulation using dedicated software will provide a reasonably accurate indication of this amount.
However, in France, there are three types of payroll to consider depending on the situation. The first is the ‘social security’ payroll, which is reported to social security bodies in the company’s annual social security declaration, following the basic definition given by INSEE. Next is the ‘accounting’ payroll, which is used in the company’s reports and accounting documents, and takes into account employer’s contributions, including paid leave provisions. Finally, there is the ‘budget’ payroll, which takes into account employer’s contributions as well as severance pay.
The advantages of payroll simulation software
Payroll simulation software offers undeniable benefits to the departments that need this information for their management or organization. Simulation is a way of predicting the amounts that will be payable, while the results of the simulation also represent a significant aid to decision-making.
Also, whether for the ‘social-security’, ‘accounting’ or ‘budget’ payroll, there is a large amount of data and information to take into account, while their respective calculation methods may differ. Taking a manual approach can often quickly become a laborious task, particularly if the number of employees is high and there are significant differences in their remuneration. To avoid errors and omissions, but also to automate operations, the use of good simulation software is recommended.
Talentia Software, a leading provider of accounting, financial and HR management software
Talentia Software is a leading European developer of business performance management solutions. Created to solve the problems faced by SMEs, larger businesses and major clients, Talentia’s solutions are designed to facilitate financial performance management at organizations, while remaining in line with rapidly-changing regulatory requirements.
A trusted partner to businesses, Talentia offers high quality support, which is supplemented by other services such as integration, training, and technical assistance to enable clients to concentrate on higher added-value activities.
If you need reliable and effective payroll simulation software, our HR solution Talentia HR Suite is for you.
This payroll management tool was designed to simplify the calculations and predictions necessary to manage salaries. With its easy setup and scalable features, it will support you in developing your company’s business.
Available as SaaS, Talentia HR Suite also comes with a mobile application to access the data you need from a connected mobile device.