Payroll for small businesses in Iceland
Payroll done in minutes. Filings taken care of.
Salarium calculates pay, creates payslips and handles the filings to the Icelandic tax authority (Skatturinn) and pension funds. No payroll department needed, just a few minutes at the end of the month.
Developed in Iceland by MMV ehf., which has helped small businesses with accounting and operations for years. The Salarium app is available in several languages.
Month-end shouldn't take a whole day
Complicated systems
Most payroll systems are built for large companies with a full payroll department. You just need to pay a few people correctly.
Filings in many places
Withholding tax, social security contribution and pension funds, each with its own filing and its own deadline.
Costly mistakes
One wrong percentage or a missed deadline costs time, stress and even late-payment interest.
The payroll system
Everything payroll needs, in one place
Set it up once. Salarium does the rest.
Choose the period, for example January to December, and Salarium runs payroll automatically every month. For businesses with fixed salaries, month-end is practically done before it starts.
Straight into your books, no double entry
Send payroll to your accounting system as drafts for review. Nothing is posted without your approval. The monthly overview shows total payroll cost including employer pension contribution and social security contribution, and everything can be exported to PDF or Excel.
Wage statements to the tax authority at year-end
Salarium compiles the annual wage data month by month and submits the wage statements (launamiðar) to Skatturinn. You see the status for each income year in one place.
Holiday entitlement under control, all year
Register employee holidays and Salarium keeps track of entitlement, holidays taken and accrued rights for each holiday year. You can see the holiday liability in krónur at any time, and holiday pay paid out during the holiday period goes automatically into the next payroll run.
Salarium takes care of
How it works
Add your employees
ID number (kennitala), salary and pension fund. Once, and you're set.
Run payroll
Manually or automatically every month. Salarium calculates everything else.
Approve and file
Payslips are created, the filings to Skatturinn and pension funds are ready and the drafts go to your accounting.
Pricing
From 2,890 ISK per month
No payment at sign-up, you pay afterwards. A fixed monthly fee based on the number of employees, all features included and no commitment. Prices exclude VAT.
Are you an accountant with many small clients?
Want to use Salarium for your clients? Get in touch and we'll find a setup that suits your firm.
Questions and answers
Do I need to be an accountant to use it?
No. Salarium is designed for owners and managers of small businesses who want to get payroll done themselves in a short time.
Does Salarium post directly to my accounts?
Salarium creates drafts in your accounting system for review. Nothing is posted until you or your accountant have checked it.
What happens when rules or rates change?
We update the system when changes take effect, so calculations follow the current rules.
Is Salarium available in other languages than Icelandic?
Yes. The Salarium app is available in several languages. Ask us about your language when you book a demo.
How do I get started?
Get in touch and we'll show you the system and help you get up and running.
Who do I contact if something comes up?
Send us a message on WhatsApp, call +354 45 40 500 or email mmv@mmv.is. You talk to the people who build the system.