The new enhanced Payroll in Tally requires minimal effort for accurate processing. Setting up Pay Heads, Employee Group, Employees, Salary Details and Attendance/Production Type is now a simple process with Tally’s Four easy steps to generate a payslip.
Step 1
Create Pay Heads
The components of structured salary are created under Pay Head
Create the salary structure components in pay head. The Pay head creation in tally is very user friendly. Tally allows creating any complex type of pay head.
Step 2
Create Employee Masters
Create an Employee master. Enter the requisite Employee Details & Employee group by grouping employees under the function they perform; their department or designation.
Step 3
Create Salary Details
Create the applicable Salary Details for both Employee Groups as well as Individual Employees with earnings, deductions and basis of computation.
Step 4
Process Payroll and Generate the Payslip
Pass a Payroll voucher to enter all Earnings and Deductions in payroll transactions that are paid along with the Salary Payslip for all employees
Generate the Payslip that provides employee as well as attendance details, itemises each component of the employee’s earnings and deductions, and displays the net amount paid to him for a given pay period. It also provides information to the employee as to how the net amount was arrived at.