IC PAYROLL – fully supports all processes associated with payroll calculations

PAYROLL

Fully supports all processes associated with payroll calculations whether it involves manual time sheets entry, or reading time sheet data from IFS Time & Attendance module, or an import from any other external time registration system.

IC Payroll provides:

• The Payroll module supports all stages of the payroll calculation from time sheet data entry/import to printing of the required reports.
• The Payroll module is fully adaptable to the particulars of the relevant countries’ legislation regarding the payroll calculation, and to the customers’ requirements. The customer can individually set up all types of wages, payroll types and reports
• In some countries payroll calculation is not limited to processing company’s own employees salaries but also requires payment processing for people hired to do a certain job for a limited period of time not necessarily on company premises. The system offers a complete functionality to accommodate the full process of keeping contractors records, calculations of payments and posting transactions to IFS Financials.
• Part of IC Payroll is a sub-module enabling the complete handling of employee loans and contributions whether they are with an external organization (e.g. a bank, Additional Insurance, Fitness club) or an internal one such as special saving schemes within the company.

Flexible mechanism for creating transactions and linking with IFS Financials. Being a fully integrated part of IFS application, the Payroll module provides the users with powerful and flexible functions for distributing all payments and deductions over the multilevel chart of accounts.

Calculation history. All previously calculated payments/deductions are saved in the archive file. This information may later be used for analysis and creation of reports as well as for current calculations. The system offers a two step archiving procedure (Payroll files and the actual archive) which allows an easy access to all processed transaction.

User defined Wage Codes:

• Unlimited number of wage codes
• Each pay or deduction element is defined as a wage code
• Wage codes can be grouped into Wage Types (e.g. : Gross pay; Deduction before tax; Taxes; Social security; Other deductions)
• Wage codes can be grouped into Wage classes
• Each wage code contains a calculation formula
• Each formula has a validity date
• Full history is kept

Payroll templates – employee selection. This functionality is available throughout the system to quicken the process of either data entry or payroll calculation for selected group of employees. Sample selection criteria:

• Employment type
• Employee category
• Position
• Organisation
• Payroll Group
• Job group category

Payroll templates – calculation template. This functionality allows to create a number of different calculation models (e.g. wages calculation for hourly paid, monthly salary calculation, quarterly bonus calculation, correction payroll, etc.) by defining which wage codes and parameters should be calculated on a certain type of a list and for what group of employees this payroll should be processed.

Payroll print out template. This makes a definition and adjustments of payslips an easy task by allowing the user to set up wage codes and parameters which should appear on a payslip.

Regulations. Keeping and maintaining different sort of calculation tables (e.g. tax tables, national Insurance tables, etc) can be a very mundane task. The functionality of regulations allows keeping tabularized values within validity dates and therefore making possible retrospective calculations.

Methods of payment. The system supports electronic bank transfers as well as more traditional ways of paying out salaries and wages, such as cash and checks. To each employee more than one payment method can be assigned, splitting the payment by % of the actual net amount or by the amount as such. Even using one payment method such as a bank transfer of the amount can be distributed among a number of different bank accounts.

Integration with other IFS modules. The Payroll module is integrated with IFS Financials, IFS HR Base Module, IFS Time and Attendance. Depending on customer needs and processes it also provides an option of importing labour transactions directly from other solutions such as IFS Project, IFS Maintenance and IFS Manufacturing.

Integration with other software. Import functionality has been developed to cater for needs of updating/changing some of payroll constant values used for calculations and external time sheet data reading into the Payroll module. On the other hand an easy one step export of data into Word/Excel is available throughout the system.

LOANS AND CONTRIBUTION

A separate component enabling the complete handling of employee loans, contributions, and single liabilities whether they are with an external organization (e.g. a bank, Additional Insurance, Fitness club) or an internal one such as special saving schemes within the company. It features manual and automated obligations re-payment, automatic generation of installment plans (for loans), tracking payment history, periodical payment suspension, extensive booking functionality, creating transfer files to banks or other institutions, etc.

ORGANIZATION REPORTING

The Organization Reporting component provides the functionality of generating user-definable documents. Documents are based on templates and can be generated per employee or per company. The structure and the content of a document is entirely controlled by the user. There are numerous functions available to fetch and manipulate employee- and company-related data from various parts of Human Resources and Payroll components of the system. Generated documents can be exported from the system for further processing in external applications. Thus, the functionality can be used to create employment agreements and certificates, reports to social security institutions and tax offices, etc.