Payroll is a company’s list of its employees, but the term is commonly used to refer the total amount of money that a company pays to its employees.
Payroll in the sense of “money paid to employees”. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct with holding and deductions, and that the with holding and deductions are remitted in a timely manner.
Payroll is important factor because payroll and payroll taxes considerably affect the net income. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely.
This module includes a generic payroll engine that handles everything required to compute Employee payslip, the taxes to pay, etc. And also can manage company payroll.
How to Install your country’s payroll from setting menu
After installing payroll in your database there are some process include ,The Salary rule are used to compute data like allowances, deductions, net, taxes, contribution registers You can define salary rules by using the expression.
Inside a salary structure we define some rule which can be used for computing the payslip. We can use a single structure for particular departments, or for other categories. Salary structures can be inherited so we can use extra rules for particular employees.
Example: “First made a structure for the employee and given name as Manager selected the base structure that we created as the parent.”
The base structure includes the basic, Gross, Net salary rules.
Salary rule catagory:
In a payroll module we can define a salary rule category which are used for categorize Salary rule.Salary rule category given a name as company contribution and have a code it must be unique. Parent is used to create hierarchy for reporting purpose.
The set of rules which define the computation of salary amount of different category. That can be of Basic, Allowance, Deduction, Gross, Net. You can define salary rules by using the expression. Here sequence used to calculate Gross should always be greater than the sequence’s given on Allowance’s rules, else it won’t be considered in the calculation of Gross value.
It includes the condition and its computation to be specified. In computation part, we can select the computation of an amount based on Percentage, Fixed Amount, and Python Code. While using the Python expressions and then returned value has to be set in the variable result.
Create a contract for an employee which can be used during the payslip generation. In this have a Salary structure for payslip and a Scheduled Pay by using this salary/wages are scheduled to be paid. e.g. monthly, weekly, quarterly, etc.
Here in contracts, we specify the salary structure, Basic Wage, Duration, Working Schedule and Scheduled pay.
Payslip is a document issued by an employer to employee. Payslip can be created by clicking on Employee payslip menu. we can generate a payslip for employee in a contract and hence the payslip will be calculated according to the selected salary structure in the contract. After generating payslip it can be exported as PDF and that can be of rule wise report and simple payslip report. In payslip generation we can select an employee and a contractor and a salary structure for generating payslip and define a period between beginning date of pay period and last date of pay period.
By clicking on compute sheet, Payslip will be calculated based on the sequence provided on salary rules. Allowances and Deductions will be shown in positive and negative values respectively.
Worked days & inputs tab used to list out the total worked hours base on the working schedule selected on contract.
By selecting payslip batches from a payroll we can Create payslips for various employees at a time. Its like a register which holds payslips of various employees .
Click on the Generate payslip wizard and can choose the list of employees for which you want to generate payslips by using generate button on top of the menu.
Contribution register which are used to link list of details. After creating a register you can assign it on Salary rule. When Payslip is created, payslip lines generated through salary rules having a contribution register will be linked with that register.
This is one of the major part of human resource management system(HRMS). Odoo has given this feature in very simple and user friendly way. All HRMS users must try Odoo HRMS before they going to use any other ERP system.