Tally ERP 9/Tally Prime is an accounting software used for recording the day to day transactions of the business and other business related accountings. As the title of this blog concentrates around Tally being used in payroll management, without further ado, let us dive into the topic.
WHAT IS PAYROLL?
Payroll is the sum total of the wages and salaries paid by the company to its employees. Payrolls can be generated either daily, weekly, or monthly depending on the payroll processing of the company. It is a very lengthy time consuming process and moreover it is a complicated process as well. The payroll processing forms a significant expense of the company and hence an important factor that cannot be omitted.
PAYROLL IN TALLY ERP 9
Tally ERP 9/Tally Prime provides a wide variety of feature to its users that allows them to implement and process the payrolls. The payroll info allows their users to create individual payroll masters required for computing earnings and tax related matters. It provides full integration with accounts for simplified payroll processing and accounting processes. It is highly friendly and user-friendly, allowing its users to create unlimited grouping of master payrolls. It can also track down the loans of the company’s employees.
A FEW SAILIENT PAYROLL FEATURES IN TALLY:
1. The payroll feature offers all-inclusive cost centres as well as employee wise reports.
2. It assists to generate statutory forms and challans for EPF and ESI as prescribed.
3. It helps to track the loan details of the employees.
4. It helps to ensure timely and precise processing of salary.
5. The module also lets flexible and user defined criteria for users.
6. It provides unlimited grouping of payroll masters.
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