Generate Pay Slips in TallyPrime (Payroll)
The new enhanced Payroll in TallyPrime offers fast and easy salary processing. The Payroll process is a five-step procedure in TallyPrime.
Step 1: Create employees, employee groups and employee categories
Create the employee masters, add employee details. categorize employees based on their projects or office location, and add organizational groups that best represent their job functions such as marketing, R&D, sales, or accounts.
Step 2: Create Payroll Masters
Payroll masters represent various the Payroll Units and the Attendance/Production Type used in your organization. For example, Payroll Units could be Simple or Compound while the Attendance Type could include Present and Leave without Pay.
Step 3: Create Pay Heads
Pay heads represent the different components that constitute a salary structure.
You can add any complex type of pay head with ease in TallyPrime.
Step 4: Create Salary Details
Create the applicable salary structure for employees and employee groups.
Step 5: Process Payroll and Generate Pay Slip
Record a payroll voucher that represents the various heads such as PF, ESI and PT towards which employees and the employer contributes.
Generate the pay slip, which includes attendance details, provides a listing of each component of the employee’s earnings and deductions, and displays the net amount paid to the employee for a given pay period. Employees can use the pay slip to understand how the net amount is calculated.