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Payroll Module – New Improved Functions

  1. Create Company’s Payroll Heads & Salary Structure

    Payroll management via software is more effective if the user of software has liberty to save his/her company specific salary heads and employee specific salary structure. HR Cube does so.

    It provides interfaces to list down all salary heads (we have used the term salary attributes instead of salary heads) and then, create salary structure of each individual employee.

    This is so easy to do when done within HR Cube.

  2. Employee Loans and Advances Management

    As a company policy, employees may have option to ask for sanctioning loan of some amount or ask for advance amount for personal or professional reasons. This scenario is mostly observed in small and medium scale enterprises. Hence, software makes an important space for inducing employee’s loan and advances management.

    Based on choice, the interest over lent loan can be charged or waved off. If interest is included, the system automatically calculates the simple interest and finally amount to be recovered from employee after set time frame

    Additionally, HR can record the expected Installment amount which employee has to submit in process of loan repayment.

    The repayment of loans and advances amount is managed in two ways

    1. Managed independent of salary slips generation and distribution
    2. Specified amount is deducted from the salary while generating the salary slips for the employee.

  3. Synchronize Employee Attendance Sheet

    Most of the users of HR Cube around the world wanted to have one popular feature to be included in the software; Employee Attendance Synchronization with Payroll. So here it is. The new version HR Cube 2015 has taken care of employee attendance sync with payroll calculation and salary slip generation.

    To make this synchronizing method universal, an accepted & adequate attendance sheet format is provided for HR Cube 2015 user. He/she can download the sheet, make relevant entries in the downloaded Excelsheet and then upload it back into HR Cube. Here is how downloaded attendance sheet will look like

    The salary calculating function of HR Cube will automatically read the uploaded attendance sheet values and make the calculations all by itself (Manual salary slip calculation mode will still be there).

  4. Payroll Reports

    Let us list the reports available in software concerning payroll

    1. Report on Salary Deduction Attribute account accumulation like PF, Gratuity account, etc.
    2. A report which shows the salary due for distribution within the selected period.
    3. A report which will give you a summary of Net Salary Paid in the selected time period.

  5. Generate Bank Sheets

    Many a times you have asked to submit an informal report of what salary is paid to employees in selected month(s) or year. This report is generally asked by CAs or other financial management bodies. Also for automatic salary debit functions, bank may ask you this report to know the amount of salary amount to be debited for each employee, under account-to-account transfer process. Hence the idea of providing such useful bank sheet is incorporated.

  6. Manage Bonus in Payroll Process

    Along with pre-fixed salary structure of employee some variable amount may be awarded in form of bonus or performance compensation, every now and then. Since it is variable, the amount is entered at time of generating salary slip for an employee. The entered amount is added in the Net salary for the employee and is printed on the salary slip.