Payroll Management-Overview

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.

Contents

Revisions

July 16, 2021 @ 10:58:38 [Current Revision] by arul
July 16, 2021 @ 10:58:38 by arul
July 16, 2021 @ 10:57:42 [Autosave] by arul
July 16, 2021 @ 10:56:34 by arul
July 12, 2021 @ 05:46:12 by arul
July 12, 2021 @ 05:44:44 by arul
July 12, 2021 @ 05:22:55 by arul
July 12, 2021 @ 04:47:06 by arul
July 12, 2021 @ 04:29:40 by arul
July 10, 2021 @ 05:30:22 by arul
July 10, 2021 @ 05:29:08 by arul
June 14, 2021 @ 11:50:20 by arul

Revision Differences

July 12, 2021 @ 04:47:06	Current Revision
Title
Deleted: Payroll Management~~-Overview~~	Added: Payroll Management

-Deleted: <strong>Payroll Management - Overview </strong>
-Deleted: <ul>
-Deleted:  <li><strong>Introduction< /strong></li>
+Added: <strong>Introduction </strong>
-Deleted:  <li><strong>Table of contents</strong></li>
-Deleted:  <li><strong>FAQ< /strong></li>
-Deleted:  <li><strong>Practical Demo</strong></li>
-Deleted: </ul>
-Deleted: <b>Introduction </b>
 Unchanged: <span style="font-weight: 400;">Core HR encompasses three human resources management functions:</span>
 Unchanged: <ul>
 Unchanged:  <li><span style="font-weight: 400;">Personnel Tracking, </span></li>
 Unchanged:  <li><span style="font-weight: 400;">HR Organization Setups, and </span></li>
 Unchanged:  <li><span style="font-weight: 400;">Payroll Management. </span></li>
 Unchanged: </ul>
 Unchanged: <span style="font-weight: 400;">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.</span>
 Unchanged: <span style="font-weight: 400;">The payroll module handles all requirements relating to the accounting and management of an employee's payroll.</span>
 Unchanged: <b>How is payroll an HR function...!!!</b>
 Unchanged: <span style="font-weight: 400;">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.</span>
 Unchanged: <span style="font-weight: 400;">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.</span>
 Unchanged: <span style="font-weight: 400;">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.</span>
 Unchanged: <b>Module Highlights:</b>
 Unchanged: <ul>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ability to define unlimited pay grades, each having its own set of allowances and deductions.</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Closely integrated with Time &amp; Attendance module to process payroll based on attendance records</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ability to set and define pay components such as additions, deductions, and tax tables</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ability to calculate payroll daily, weekly, fortnightly, or monthly for select employee records</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ability to process payroll for a single employee or a batch of employees</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Pay-slip Generation</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Access historical employee payroll reports</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Payroll integration with Financial Accounting Module</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Multicurrency, Multi-company payroll processing</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Provision for managing "End of Service" benefits like Gratuity and Full and Final Settlement</span></li>
 Unchanged: </ul>
 Unchanged: <span style="font-weight: 400;">The Major highlighted features why Goodbooks Payroll Management via HRMS is strongly recommended is jotted out in brief points</span>
 Unchanged: <ul>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Integration with Attendance Monitoring Systems</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Data Importing &amp; Interface with Excel for Import &amp; Export of Various data</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Customization facility of Reports &amp; Salary Heads to suit the needs</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Capable of handling of ESI, PF &amp; PT processing / Reporting</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Flexible salary definition with formula/slab etc.,</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Flexible definition of working days/holidays depending on leave groups</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Complete leave management</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">HR details Management</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">TDS Computation, e-TDS Generation &amp; Printing of TDS certificates and Returns</span></li>
 Unchanged: </ul>
 Unchanged: <span style="font-weight: 400;">The benefit of Payroll Management is to procure data and can be kept as e-reports.</span>
 Unchanged: <ul>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Salary Sheet</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Pay Slip</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Bank Statement</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Attendance Details</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Salary Abstract</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Overtime Report</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Additional payments / Deduction Report</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Hold Salary Report</span></li>
 Unchanged:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Variance Statement</span></li>
 Unchanged: </ul>
 Unchanged: <span style="font-weight: 400;">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. </span>
-Deleted: <b>Table of Contents</b>
-Deleted: <ol>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Payroll Element</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Payroll Settings</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Pay Revision</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Fixed Others</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Advance </span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Periodic Entry</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Attendance Summary</span></li>
+Added: Click <a href="http:// help.goodbookserp.com/?p=14786" target="_blank" rel="noopener">Payroll Process Workflow</a> to know more about the payroll management workflow.
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Pay Processing</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Salary Registers</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Salary Abstract</span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Separation </span></li>
-Deleted:  <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Reports</span></li>
-Deleted: </ol>
-Deleted: <span style="font-weight: 400;">FAQ</span>
-Deleted: &nbsp;
-Deleted: <span style="font-weight: 400;">Practical Demo</span>
-Deleted: &nbsp;

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