Cloud-based payroll software is an accounting system that uses the internet to process employee time and attendance, generate paychecks, and calculate payroll taxes. Using this type of system means the company won’t have to purchase or maintain expensive onsite hardware or software. Instead, administrators utilize an Internet connection to access these tools from the cloud.
The advantages are two-fold for this sort of arrangement: firstly, companies can take advantage of more accurate pricing for ERP tools because they are not purchasing perpetual licenses upfront. Secondly, employees can easily log in to check their hours or make time adjustments without relying on IT staff availability at their location.