Payroll - TALLY NOTES PDF

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TALLY NOTES...

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AN ISO 9001:2015 CERTIFIED & GOVT. RECOGNISED INSTITUTE PAYROLL Payroll is the process of maintaining records of all employee salary under various pay head, all statutory and non- statutory deduction attendance/ absent record.

INTRODUCTION OF PAYROLL The term Payroll refers to a series of accounting transactions involved in the process of paying employees for the services rendered after taking all the statutory and non-statutory deductions into account, in conformance with the terms of employment, company policy and the law of the land i.e., payment of payroll taxes, insurance premiums, employee benefits and other deductions. An efficient payroll system facilitates an error-free, accurate and timely employee payment while ensuring that the employment is well within the valid work permit.

Salient Features of Payroll in Tally.ERP 9 The key features of the Payroll functionality in Tally.ERP 9 are as follows: o It is fully integrated with accounts to give you the benefits of simplified Payroll processing and accounting. o It has user defined classifications and sub-classifications for comprehensive reporting.This may be related to the employees, employee groups, pay components, departments etc. o It provides the facility to create user-defined earnings and deductions Pay Heads. o It allows flexible and User-definable criteria for simple or complex calculations. o It allows unlimited grouping of Payroll Masters. o It supports user-defined production units i.e., attendance/ production/ time based remuneration units. o It provides a flexible payroll processing period. o It provides comprehensive Cost Centre as well as employee-wise costing reports o It ensures an accurate & timely Salary Processing, Employee Statutory Deductions & Employer Statutory Contributions with the help of predefined processes. o It provides auto-fill facility to expedite the Attendance, Payroll & Employer Contributions processes.

o It facilitates an accurate computation and deduction of ESI, EPF, Professional Tax, Gratuity etc.

AN ISO 9001:2015 CERTIFIED & GOVT. RECOGNISED INSTITUTE

o It helps in the generation of Statutory Forms & Challans for EPF & ESI, as prescribed. o It allows to drill-down to voucher level for any kind of alteration. o It facilitates computation of arrears pertaining to prior period(s). o 444444It helps in tracking employee loan details....