home | FiNAC ERP | Payroll Management
- Supports Multiple Companies.
The system can support multiple companies separately in a group of companies’ environment. The processing of data and the obtaining of reports can be done separately as well as consolidated.
- System facilitates to broadly define the structure of the company.
Eg: Department, Sub Department, Section, Sub Section, Line, Raw …etc
- Employees can be categorized according to organisation’s requirement.
Eg: Executive, Non Executive, Casual, Permanent, Staff, Workers…etc
- Supports Human Resource Information. Payroll supports capturing of basic Human Resource Information. Maintain all necessary employee information related to HR such as Personnel information, employee qualifications, previous experience with worked places etc. HR manager can keep memos about employee activities.
- Maintenances of employee bank remittance.
Each employee can have up to six bank accounts.
- System keeps track of the changes done to the Employee Master Records.
- Salaries can be calculated on a daily (Day Wages), weekly or Monthly basis.
- Multiple Payment Modes. Salaries can be paid by using Cash (Coinage Summary), Cheque (Bank Remittance Listing) & Bank Transfers.
- User defined Earning & Deductions. The user can create any amount of earnings and deduction formulae on their own, which makes the FiNAC payroll a flexible solution.
- Time Attendance Data Transfer. Monthly Employee Attendance Data (OT, No pay, Late Minutes, Leave Details) can be transferred from the Time Attendance System to Payroll.
- Company Loan Maintenance. Maintain different types of loans with different types of interest calculations. The management can use this feature to identify the amount of loans taken by a single employee, how much is outstanding, how much settled as instalments.
- Employee Promotion & Transfers. Employee promotions can be recorded in the payroll. Also the system tracks the information, including employees’ transfers from one company to another company (within same group).
- Month End Process. This process calculates employees’ salaries, EPF/ETF contributions, PAYE tax amounts for the particular month. (Month End process can be run several times within a month)
- Bank SLIPS Transfer. A system generated text file with bank remittance details, can be directly uploaded to the given bank system as per the bank’s specified format.
- EPF/ETF e- Returns. A system generated text file with all employee monthly EPF/ETF contribution details, which can be directly uploaded to the EPF / ETF Boards system. This helps to transfer data between the company and the EPF/ETF Board in a more efficient manner.
- Facilitate GL Transfers. System has the facility to generate the Salary Journal Entries & transfer them to the General Ledger Module.
- Separate Payment Transaction. Through this transaction system facilitates to make the payments to employees, which are not included in the payroll.
- Leave Encashment Process. Pervious year balance leave payments can be done using payroll.
- Bonus process. Apply different kinds of bonus criteria for different levels of employees. Bonus amounts can be given as a percentage or fixed amount or even as a combination of both.
- Increment Process. Increments can be given as a percentage, fixed amount or even as a combination of both. This facility supports the HR manager in updating the annual increments at short notice.
- Track Employee Gratuity Entitlement.
System generates the Gratuity Provision Report according to the time period define by the user.
- Employee Master Data Excel Transfer. Employees Data can be upload to payroll using excel sheets.
- Earning & Deduction Excel Transfer. Employees Monthly Earning & Deduction details can be transferred to Payroll using excel sheets.
- System facilitate to generate Dynamic Reports by using a Wide Range of Selection Criteria such as Department wise, Sub Department wise, Section wise, Sub Section wise, Line wise, Raw wise, Designation wise, Grade wise, Group wise, Employee Number wise, …etc
- EPF/ETF Report Printing. Generate EPF/ETF reports in government approved standard formats. Eg: EPF/ETF Six Months Returns, C Form, R1 Form, R4 Form, EPF/ETF Monthly Contribution Report...etc
- Tax Report Printing. Generate Tax Reports in government approved standard formats. Eg: Certificate of Income Tax Deduction, Schedule (Form 9A), P.A.Y.E. – Pay Sheet (T-6), Annual P.A.Y.E. Tax Report.
The system has the flexibility in amending the tax tables for future tax changes.
- Basic Salary Reconciliation. Provides the months total basic salary information by adding the recruitments & increments to the last month total basic salary and deducting resigns & transfers to the other companies for the particular month.
- Payslip E mailing facility.
- Data Backup Facility
- Password Control. Can Maintain Password Levels for System Users with system access controls for Master Data, Transactions, Process & Reports in Company wise & Category Wise.
- Master File & Transaction Log
- Some of the Reports provided by the Payroll are as follows,