It is that amount of salary which is paid by the company to the employee after deduction the tax. Payroll plays a very important role in company. It is also very helpful for the government because proper tax is deducted from every employee salary. The main aim of payroll department is that salary are paid to employee accurately, timely, systematic way. Payroll really helps to reduce the confusion.
Payroll --> salary + wages + bonus – tax deduction
How to activate the payroll?
Press F11 --> F1 --> Activate maintain payroll.
--> Activate more than one payroll cost category
Accept it.
Following steps are to create payroll information.
- Go to payroll info. --> Pay head --> create (basic salary, da, house rent, gratuity)
- Go to payroll info. --> employee group -->create ( human resource department)
- Go to payroll info. --> Employee name --> create (ram, sham, Mohan) etc.
- Go to payroll info. --> salary detail --> create
After all the payroll information, go to payroll voucher.
Make entry in payroll voucher.
How to see profit and loss?
- Display --> payroll report
- payroll report --> statement of payroll
- statement of payroll --> pay slip