Payroll Management
Payroll management is the cornerstone of the employer-employee relationship, ensuring timely and accurate compensation.
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Problems Solved
— 01
Miscalculations and Inconsistent Payroll Processing
- Manual calculations can lead to errors due to human mistakes, which can cause discrepancies in payroll, affecting employee satisfaction and compliance.
— 02
Labor-Intensive and Time-Consuming
- Manual payroll processing is labor-intensive and diverts HR staff from other critical tasks, reducing overall efficiency and productivity within the HR department.
— 03
Risk of Non-Compliance
- Manual management increases the risk of missing updates to tax laws and labor regulations, leading to potential penalties and legal issues for the organization.
— 04
Employee Dissatisfaction and Trust Issues
- Errors or delays in payslips can cause employee dissatisfaction, impacting morale and trust in the payroll system, which can affect overall employee engagement and retention.
Benefits of Automated Time Payroll
Management
Accurate and Efficient Calculations
Handles payroll calculations for deductions, bonuses, and taxes automatically, reducing errors and saving time.
Consistent and Timely Processing
Automates payroll runs on scheduled dates for consistent and timely processing.
Compliance with Regulations
Keeps payroll compliant with up-to-date tax laws and labor regulations, ensuring adherence to legal requirements.
Customizable and Detailed Payslips
Creates customizable payroll rules and generates detailed payslips with comprehensive information, enhancing transparency and employee satisfaction.
Key Features
Commission plans
Create and manage commission plans. These plans are often used to incentivize employees and align their goals with the company's objectives.
Deductions and Contributions
Manage various deductions (e.g., taxes) and contributions (e.g., pension funds) automatically.
Payslips
Generate detailed payslips for employees, with options to automate distribution.
Salary Structure Type Setup
Setting up a salary structure type and configuring various components, including salary rules, structure templates, and payroll settings. This ensures accurate and automated payroll calculations.
Payroll Processing
Calculate and process payroll based on employee contracts, timesheets, and attendance records.
Fully integrated with necessary features
Employee
Synchronizes employee profiles and contracts with payroll for accurate and compliant compensation processing.
Accounting
Creates journal entries for payroll expenses, generates detailed financial reports, and maintains an audit trail for accurate records and easy reconciliation.
Timesheet
Synchronizes timesheet data to accurately calculate wages based on hours worked, including regular time, overtime, and other time-based compensation.
Attendance and Leave Management
Syncs leave and attendance data to accurately calculate wages, including overtime and allowances.
Appraisal
Integrates with the Appraisal module to link performance reviews with compensation adjustments, bonuses, and other payroll-related changes.
