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OfficePortal

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Payroll overview

OfficePortal Payroll streamlines payroll management, a vital aspect of organizational operations, ensuring full compliance with government standards. This cloud-based payroll software empowers businesses to execute precise, on-time employee payroll processes, backed by OfficePortal’s exceptional technical support for optimal results. Updated with the latest statutory compliance, OfficePortal adheres to the Income Tax Act’s regulations, enhancing payroll accuracy.

Leveraging OfficePortal’s cloud infrastructure, businesses can effortlessly tailor and oversee their payroll functions, from automatic salary, tax, and deduction calculations to the distribution of payslips and TDS documentation monthly. Employees gain the convenience of accessing their payroll information, including payslips, through OfficePortal’s user-friendly web interface or mobile apps available for iOS and Android, ensuring a seamless payroll management experience.

If you have a Premium (or) Elite subscription on OfficePortal and wish to start processing your employee’s pay runs, you must follow the below steps.

  1. Add address & other details on your “Company profile.”
  2. Set up the “Organization bank & tax details.”
  3. Configure “Statutory components.”
  4. Configure “Earnings.”
  5. Configure “Reimbursements.”
  6. Set up your “Pay schedule.”
  7. Update the employee’s “Statutory options.”
  8. Update the employee’s “Salary detail.”

PAY RUNS #

The payroll process, or ‘pay run,’ involves distributing salary payments to employees for a designated pay period, typically spanning a month or the actual days worked within that month. Initiation of the first pay run and subsequent scheduling are determined based on configurations made on the pay schedule page. To set up or review your pay schedule, navigate through the menu: Settings > General Settings > Pay Schedule.

Pay runs are a recurring activity, starting with the initial cycle. For instance, if a company’s first pay run covers the period from April 25th to May 24th, the following pay run will span from May 25th to June 24th. This feature within the payroll system allows for the efficient setup and execution of pay runs, ensuring smooth and systematic salary disbursements.

TO CONFIGURE PAY RUNS #

  1. Click on the ADD NEW button
  2. Select the Pay period from the drop-down menu.
  3. Next, select the location, of the entity you want to run the payroll. You can also choose particular band or employment type to pay specific. But band or employment types are not essentials to select. But location is the mandatory field.  
  4. Click “CREATE PAY RUN” to run the selected pay run.
  5. Once you click on Create pay run button, the pay run will be created & displayed on the top of the list page. By default, created pay run’s status will be in Draft.
  6. To process the pay run, you can either click on the row or click on the edit button available on the option.
  7. After that, you will view three different summaries. The summary view helps to verify the data and cross-check component wise details of pay run and to avoid errors.

Payroll summaries contains

  • Pay run summary
  • Employee summary
  • Taxes & deductions

The detailed features and the functions of the above summaries are available on their respective pages.

  1. Once you verify the data, you can click on “SUBMIT” to proceed further.
  2. After submitting, you may either “APPROVE” or “REJECT” the pay run. If you wish to process, click on “APPROVE”. If your organization has multiple OfficePortal admins, you won’t be able to approve a payrun that you created. Instead, your request will be sent to your co-admin’s inbox, where they can either accept or reject it.
  3. Once the pay run got approved, click “RECORD PAYMENT” to process the payment to the employees. By clicking the record payment, you will be able to assign the date of payment and view the mode of transfer details. By default, the payslip notification sent to employees to download and view their payslip is enabled in this menu. If you wish not to send the notification you may disable the option from here.
  4. Once the payment is approved you will be able to download and view the bank advice excel by clicking the “DOWNLOAD BANK ADVICE” This excel can be uploaded to the respective bank portal as a pay run advice for the pay run month. The pay runs excel sheet will also be helpful to cross-check the paid amount.

Note :

  • Pay run can also be created using “CREATE PAY RUN” from the dashboard menu.
  • If you wish to cancel the pay run, you can click “REJECT” on the pay run page. This will cancel the pay run and the rejected pay run will again go back to draft status.

LOANS #

Within the loans section, you have the capability to monitor all interest-free or concessional loans that have been extended to your employees, ensuring comprehensive management and oversight of such financial transactions.

Add a new loan #

  1. Select the employee’s name from the list for whom the loan is being recorded.
  2. Then, you can either choose the loan name from the list of loan types or create a new loan type by tapping the “+” button provided on the loan name field.
  3. Enter the loan amount and instalment amount, which will be recovered in each pay run.
  4. Enter the disbursement date, the day when the employee is going to receive the loan or the day when the employee received the loan.
  5. Enter the repayment start date, the day when the employee will start the payback.
  6. Enable the “Do you want to exempt this loan from perquisite calculation?” toggle button if you want the perquisite calculation to be skipped for this loan. [Any loan less than 20,000 or medical loan can be exempted from perquisite calculation, according to rule 3(A)]].

Loan repayment #

  1. The loan amount is recovered in equal instalments from every month’s payroll as a deduction from the employee’s monthly salary.
  2. Employees can also make loan repayments anytime from the manual payment option towards their outstanding loan amount.
    1. To make a manual payment choose the loan by clicking on it, select the edit button in the top right corner, and then click the “ADD PAYMENT”
    2. Enter the repayment amount in the box, where you can also view the remaining amount.
    3. Enter the payment date.
    4. Select the mode of payment from the drop-down option, such as cash, bank transfer, check and others.
    5. Mention any reference for the payment to complete the manual payment.

Notes:

  1. Loan(s) sanctioned to a particular employee cannot be claimed again by the same employee for the same loan until it is closed.
  2. In case loan(s) is created by entering the wrong employee’s name, you cannot modify the employee’s name. You can only delete it.
  3. You cannot alter the other loans details such as loan amount, disbursement date and the repayment start date once the first payment is received.
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