Introduction 

Core HR encompasses three human resources management functions:

• Personnel Tracking,
• HR Organization Setups, and
• Payroll Management.

Every organization requires these functions once it has reached a critical mass of employees where manually running payroll and managing employees with spreadsheets becomes too burdensome a task.

The payroll module handles all requirements relating to the accounting and management of an employee’s payroll.

How is payroll an HR function…!!!

Payroll in India was once upon a time (before 10 – 15 years) considered to be part of the Accounts Department. Those are the days when payroll was seen as a mere compliance function and also as a finance/accounting function as money was involved. Performance appraisal was more a ritual done once a year and performance were not adequately related to pay. Moreover, Accounts personnel were the only people considered to be fit for doing statutory compliance-related jobs such as PF and ESI jobs in an organization.

Payroll is also a sensitive matter as employees may have queries when they receive their payslips. Not to generalize, Accounts personnel are not very much the right persons to have the kind of human relations skills to answer such queries with empathy and patience. So, Payroll also became a matter of human relations over the years when employees mattered.

Another reason is the salaries have become more and more linked with employee performance and retention with a substantial part of the salary paid as a performance-linked incentive. Performance Management is the HR function, payroll management in a performance-oriented reward system has become an HR function.

Module Highlights:

• Ability to define unlimited pay grades, each having its own set of allowances and deductions.
• Closely integrated with Time & Attendance module to process payroll based on attendance records
• Ability to set and define pay components such as additions, deductions, and tax tables
• Ability to calculate payroll daily, weekly, fortnightly, or monthly for select employee records
• Ability to process payroll for a single employee or a batch of employees
• Pay-slip Generation
• Access historical employee payroll reports
• Payroll integration with Financial Accounting Module
• Multicurrency, Multi-company payroll processing
• Provision for managing “End of Service” benefits like Gratuity and Full and Final Settlement

The Major highlighted features why Goodbooks Payroll Management via HRMS is strongly recommended is jotted out in brief points

• Integration with Attendance Monitoring Systems
• Data Importing & Interface with Excel for Import & Export of Various data
• Customization facility of Reports & Salary Heads to suit the needs
• Capable of handling of ESI, PF & PT processing / Reporting
• Flexible salary definition with formula/slab etc.,
• Flexible definition of working days/holidays depending on leave groups
• Complete leave management
• HR details Management
• TDS Computation, e-TDS Generation & Printing of TDS certificates and Returns

The benefit of Payroll Management is to procure data and can be kept as e-reports.

• Salary Sheet
• Pay Slip
• Bank Statement
• Attendance Details
• Salary Abstract
• Overtime Report
• Additional payments / Deduction Report
• Hold Salary Report
• Variance Statement

Keeping these salient features in mind and easing the organization’s work, HRMS has been developed and deployed, but why? The reason is to avoid miscalculation and to generate the outcome of the payroll process each month at a fraction of a minute without any discrepancies. 

Click Payroll Process Workflow to know more about the payroll management workflow.