Payroll – Precise and Integrated Remuneration Management That Drives Your Business
Receiving a ‘salary credited’ message always brings satisfaction to an employee, but behind this simple notification lies a huge amount of work, demanding precision, compliance, and efficiency. Diverse remuneration structures, complex and dynamically changing regional tax regulations, and the need for precise and timely payslip generation for a large and often varied workforce can be overwhelming and generate risks. At SolutionsInc, we make all of this easier, more automated, and secure with a feature-packed payroll module designed to meet these challenges. Cut ties with disparate payroll and accounting systems that demand hours of tedious work each month reconciling payroll and expense data. SolutionsInc ensures full and deep accounting integration with the payroll process at every step, guaranteeing data consistency and eliminating errors.
Key Elements of the SolutionsInc Payroll Module:
- Creation of Flexible and Complex Salary Structures
- Bulk Assignment of Salary Structures for Effective Management
- Payslip Preview for Avoiding Configuration Errors and Optimisation
- Running Standard Payroll Processes with Precision and Speed
- Flexible Handling of Additional Salary Components and Off-Cycle Payments
- Precise Booking of Payroll Expenses to Cost Centres
- Comprehensive Multi-Currency Payroll Handling for Global Teams
- Efficient Management of Employee Loans
- Timesheet-Based Payroll for the Services Sector and Projects
Creation of Flexible and Complex Salary Structures
SolutionsInc enables the easy and intuitive creation of sophisticated, rule-based salary structures that can reflect any remuneration specificity within your company. You can precisely define diverse earning components (e.g., basic salary, bonuses, functional allowances, overtime) and deductions (e.g., statutory and tax deductions, insurance contributions, absence deductions), along with their application conditions and complex calculation formulas. The system ensures accurate calculations for salary components based on actual working days, rounding preferences, and inclusion of amounts in gross and net totals. What’s more, if you update component formulas at any point (e.g., due to regulatory changes), you can easily synchronise these changes with existing salary structures, ensuring always up-to-date and compliant settlements.
Bulk Assignment of Salary Structures for Effective Management
We understand that in large and diverse organisations, where teams and roles may require different pay structures, manual assignment can be extremely time-consuming. With SolutionsInc’s advanced salary structure bulk assignment tool, you can filter and drill down to specific employee groups (e.g., by department, designation, branch). You can then collectively update basic and variable amounts for multiple rows, and finally bulk assign the appropriate salary structures. This ensures consistent, fair, and highly efficient remuneration management across the entire organisation, saving a significant amount of HR time.
Payslip Preview for Avoiding Configuration Errors and Optimisation
Before initiating the final payroll process, it’s crucial to ensure that all salary structure configurations are correct and reflect the intended calculations. SolutionsInc allows for a precise preview of payslips to see how all configurations, formulas, and conditions actually impact the calculations for each employee. You can thoroughly analyse all items, making amendments where necessary, before running the actual payroll process. This minimises the risk of payment errors, eliminates the need for subsequent corrections, and increases employee trust in the payroll system.
Running Standard Payroll Processes with Precision and Speed
With SolutionsInc, running regular payroll cycles becomes fast and reliable. You can process monthly, fortnightly, or weekly payroll cycles for the entire company, a specific branch, or department in just minutes. Thanks to comprehensive payroll filters, you can easily and precisely remunerate every type of employee within a single payroll system – whether they are full-time staff, part-timers, interns, or freelancers. The system automatically books payroll expenses, generates individual employee accrual and bank entries, and ensures your General Ledger remains perfectly synchronised with your payroll data. Optionally, you can also send password-protected payslips to employees with just a few clicks, enhancing convenience and security.
Flexible Handling of Additional Salary Components and Off-Cycle Payments
Managing ad-hoc salary components that are not part of the standard structure can often be problematic. SolutionsInc allows for easy management of such situations without the need to revise the entire salary structure each time. The additional salary feature helps you easily configure one-off or recurring payments or deductions. These could include performance bonuses, deputation allowances, pay cuts, arrears, incentives, or any other type of adjustment. You can also precisely specify whether tax needs to be deducted for this specific component during payroll processing. Need to process reimbursements or salary advances outside the regular payroll cycle? SolutionsInc allows you to easily handle such off-cycle payments by creating appropriate accounting entries, providing full financial flexibility.
Precise Booking of Payroll Expenses to Cost Centres
Payroll constitutes a significant part of your organisation’s operational expenses, and tracking these expenses at a more granular level is crucial for precise budget management and profitability analysis. SolutionsInc enables booking salary expenses against multiple cost centres based on employee or department assignments. As employees progress in their careers, they may actively contribute to more than one business unit or project. In such cases, the salary expenses associated with that employee can be precisely distributed across multiple cost centres, by configuring this breakdown in salary structure assignments. This ensures granular control over labour costs and enables accurate profitability analysis at the project, departmental, or business line level.
Comprehensive Multi-Currency Payroll Handling for Global Teams
For companies operating internationally and employing staff in different countries, managing payroll in multiple currencies is essential. SolutionsInc enables comprehensive payroll management for a global team. You can create salary structures and assignments in various currencies, and the system automatically converts and presents gross and net totals in both the selected settlement currency and the company’s base currency, applying current exchange rates. This keeps your accounting ledgers in perfect synchronisation through fully integrated multi-currency accounting, minimising errors and simplifying international settlements.
Efficient Management of Employee Loans
SolutionsInc offers integrated tools for efficiently managing employee loans that may be provided by the company. From the loan disbursement to its recovery – the system tracks all stages. What’s more, SolutionsInc synchronises loan repayments directly with your payroll system, automatically deducting instalments from the employee’s monthly salary. This significantly simplifies loan administration and ensures accurate and timely settlements, eliminating the need for manual tracking.
Timesheet-Based Payroll for the Services Sector and Projects
For companies in the services sector, consulting agencies, or project-based firms where remuneration is closely linked to hours worked or tasks performed, SolutionsInc offers a flexible solution. Employees who need to track their working hours can easily fill out timesheets with a precise breakdown of activities for each project or task. You can create salary structures fully based on timesheets, define hourly rates for different roles or task types, and manage payouts for actual hours worked. You have the option to run separate payroll entries for timesheet-based salaries, which is particularly valuable for precise project billing and providing flexibility based on actual services rendered.
The SolutionsInc Payroll Module is a complete solution that transforms complex remuneration processes into a precise, automated, and integrated system, guaranteeing timely and accurate payments for your team, while ensuring full compliance and strategic insight into labour costs.
