Payroll is not processed any more, rather it is executed which means, it is no more required to configure payroll at every pay cycle, rather it should inherit previous pay run attributes.
Some other salient features of Compensation and Payroll Benefits are
- Defining financial years and pay cycles in each FY while mapping it with organization’s banks and bank accounts has made it easy to disburse payroll accurately as per local legislations for example WPS.
- Having multiple pay groups and multiple pay sets under one pay group within one organization, is somewhat a beauty of this module. Multiple pay groups can be set for one organization.
- Now you may run independent payroll cycles for each of your business segment or division or for one project or for one location.
- In addition to company level security we can add pay group or pay set security, means one pay roll accountant can assigned for one pay group or pay set.
- Writing formulas was never so easy leading us to handle any type of calculation in WorkBlix HRMS for any regional requirement, regardless of any complication, or if else statements, nested statements. Any type of compensation in any type of calculation, whether it is earning, allowance, deduction, addition or deletion can be included or excluded from any payroll group.
- Moreover to handle monthly exceptions, for example traffic fines, or unusual payment/earning of an employee has been handled as payroll exceptions leading payroll accountant to set any amount as earning or deduction particular for one pay period or spreading up to multiple pay periods
- In addition to recurring, non-recurring pay components, added as earning or allowance or deducted as deduction, for one pay cycle or for more than one pay cycle.
- Accounting rules are defined to make correct GL entries to pass accurate JV in your financial system, to know exact staff cost and this staff cost can distributed to any level of organization based on your cost center.
- Overriding cost centers month on month basis was never so easy. Retrospective calculations made it easy to fetch backdated promotions backdated hires.
- Even though you are not ready yet, payroll check will help you identifying pending documents to be executed before you actually launch current payroll frequency.