Paytime - Payroll Accounting

Paytime

PayTime is a Payroll processing software in full operation in a number of sites all over India.

Typical user profile of Paytime users are small business organisations with 50+ employess to medium sized industries employing 2000+ employees with several locations and departments and complex pay structures

PayTime is for payroll accounting functions. Paytime complements other offerings from Minisoft:
- HR Management a separate system for employee performance data,
- Attendance system for gathering data from attendance machines

Paytime coverage is:
• Payables, allowances, benefits and subsidies
• Extra work, Overtime & Bonus
• Deductions - Statutory (in India PPF, FPF, ESI, Prof.Tax…)
• Recoveries for facilities provided
• Leaves - entitlements, availments and encashments
• Advances against salaries, temporary advances and recoveries
• Income Tax calculations and Deductions at source

The basic reference database entered on startup and kept up-to-date comprises of:
• Employee particulars,
• Employee's pay structure comprising of Pay components i.e. Entitlements & Allowances with payment basis
  basis is:
  • Monthly pro-rated by number of days in the particular month or by 30
  • Daily
  • Fixed for the month
  • Percentage of another component
• Deductions applicable - Statutory & Non Statutory
• Recoveries for facilities provided
• Taxes applicable and their calculation structures

The payroll processing procedure is:
• For each period (Monthly or Fortnightly or Weekly) the following are entered for each employee:
  • Days attended
  • Days leave availed (by each type of leave)
  • Any ad-hoc allowances or deductions to be made for the period.
• Other data entered as a continuous process throughout:
  • Advances taken with stipulations for deductions per period. (multiple advances may run concurrently)
  • Leaves encashed
• At the end of each period after the aforementioned data entry is updated a generation / calculation run is performed in which:
  • All calculations are performed for each employee i.e entitlements, deductions - statutory & tax, recoveries of advances, adjustments of leaves
  • The calculated data is displayed on screen for verification and then saved permanently in the database

Paytime delivers the following outputs:
• Salary registers and overtime statements
• Deductions schedules and all returns & statements required for statutory purpose in prescribed formats
• Leave balances and reconciliation statements
• Advances balances and ledgers
• Department wise statements and statistics
• Consolidated statements & summary sheets
• Employees annual earning & deductions statements
• Data Dump in common format for importing in Financial accounting
• payment records

Paytime brings speed and accuracy into the task of Payroll process while removing the tediousness and drudgery. With paytime you always have the salary records ready in the shortest possible period and in completely compliance to statutory requirements

Paytime includes:
• A step-by-step Wizard that guides you through the minefield of installing software on your computer.
• Intuitive graphical interface which requires no special training - jump in and take charge of your Payroll Accounting hassles immediately
• Easy-to-access navigator that takes you where you want effortlessly. No hunting through obscure layers of menus.
• Save yourself from Repetitive Stress Syndrome - select information from lookup tables and drop-down selections, which provide quick reference and cut down typing drastically.
• Runs on all versions of Microsoft Windows - version 98 and above - the world’s most ubiquitous operating system.
• Comes with a complete on-line help system and a printed user manual to guide you through every step.

Take a closer look at India's most comprehensive Payroll Accounting software Available at a very affordable price or download a presentation & sample reports

Please request us for details.