Payroll Management is one of the main tasks of any organization, which must adhere to all applicable government norms. With OfficePortal Payroll, organizations can run accurate, on-time payroll for their employee & OfficePortal tech support team will always help the organization(s) to achieve the desired output on time. OfficePortal comes with updated statutory compliance and Income tax act rules and provisions.
OfficePortal is a cloud-based platform where you can easily customize & manage all of your payroll processes, such as automatically calculating salaries, taxes, and deductions, sending out payslips, TDS every month, etc. The employees can access OfficePortal through a web browser or mobile application (IOS & Android), view their payslips, & view & manage other payroll-related information.
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.
Pay run is the act of processing salary payments to the employees for the pay period usually a month or the no of days employees worked in a month. The first pay run and the subsequent pay run periods are derived from the settings configured on the pay schedule page and to configure (or) view the pay schedule navigate to Settings > General settings > Pay schedule.
Pay run is a continuous process from the first pay run, for example, the first pay run of a company is between 25th April to 24th May, and then the next pay run will be calculated from 25th May to 24th June. This module helps to configure and process the pay runs effectively.
TO CONFIGURE PAY RUNS #
- Click on the ADD NEW button
- Select the Pay period from the drop-down menu.
- Next, select the location of the entity you want to run the payroll.
- Click “CREATE PAY RUN” to run the selected pay run.
- 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.
- To process the pay run, you can either click on the row or click on the edit button available on the option.
- 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 are
- Pay run summary
- Employee summary
- Taxes & deductions
The detailed features and the functions of the above summaries are available on their respective pages.
- Once you verify the data, you can click on “SUBMIT” to proceed further.
- After submitting, you may either “APPROVE” or “REJECT” the pay run. If you wish to process, click on “APPROVE”.
- Once 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.
- 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.
- 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.
The loans section allows you to keep track of all the interest-free or concessional loans you have given to your employees.
Add a new loan
- Select the employee’s name from the list for whom the loan is being recorded.
- 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.
- Enter the loan amount and instalment amount, which will be recovered in each pay run.
- Enter the disbursement date, the day when the employee is going to receive the loan or the day when the employee received the loan.
- Enter the repayment start date, the day when the employee will start the payback.
- 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)]].
- The loan amount is recovered in equal instalments from every month’s payroll as a deduction from the employee’s monthly salary.
- Employees can also make loan repayments anytime from the manual payment option towards their outstanding loan amount.
- 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”
Enter the repayment amount in the box, where you can also view the remaining amount.
Enter the payment date.
Select the mode of payment from the drop-down option, such as cash, bank transfer, check and others.
Mention any reference for the payment to complete the manual payment.
- Loan(s) sanctioned to a particular employee cannot be claimed again by the same employee for the same loan until it is closed.
- 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.
- You cannot alter the other loans details such as loan amount, disbursement date and the repayment start date once the first payment is received.