Payroll Processing

Configurable Salary Heads

Create unlimited number of salary components
Define attributes for each components like carry forward to next month, show in payslip, etc.
Various components can be setup that are relevant for your business but that need not appear in payslips.
The values for the salary components can be:
- manually entered by you
- computed using a formula
- slab based lookups
- value lookups based on location, grade, department, employee type, etc.
- complex computation through a Payroll Agent (e.g. GOSI, Housing Allowance, loan deductions, etc.)

Facility to create any number of loan types offered to employees like car loans, house loans, furniture loans, salary advance etc.
Capture extensive information about a loan like loan amount, start and end date, interest type, number of installments, etc.
Multiple interest types available: flat interest, reducing balance, reducing balance EMI, etc.
Loan principal and interest deducted are tracked and displayed separately.
Facility for lump sump repayments outside of payrolls.
Loans deductions automatically stop after total recovery.
Automatically considered for recovery during final settlement.
Various employee-wise and summary loan reports

Perform Leave Settlements for employees going on leave
Leave Settlements can be done through-out the month
Automatically calculate the payout days from the Leave application
Option to stop Salary after Leave settlement is done and restored on re-joining of duty
Option to calculate Housing Allowance for the period employee is on leave

Greytip Online provides a complete and easy to use final settlement module.

Employees can be resigned and settled or settled, included in the current month's processing and resigned in the subsequent month.
Settlements can be done for employees who are resigning in the current month or who have resigned in earlier months.
Automatically calculates outstanding loan balances, notice pay, leave encashment and Gratuity.
Recovers all loan balances and advances.
Settlement Calculation sheet provides full information on how the calculations have been done.

Configure the format of the Payslip.
Add personalized messages for individual employees or common message for all. Upload messages from an Excel file too.
Print, email or publish payslips on the Employee Self Service.
Print Payslips in the order of your choice. by Department, by Location, by Location and Department, etc.
Generate password protected payslips in PDF formats and email to employees

Generate various reports and statements once your Payroll is processed. Some of the statements that can be generated are:

Salary Register
Salary Register with provision for employee signature
Generate statements for payment through Cash payout, Cheques or DD.
Reconciliation statements that provides breakups across Payment Types and Banks make the payout process error-free and easy.