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    News: Simpler Payroll Management from Tally

    FRIDAY, DECEMBER 10, 2010 | Business Standard Bookmark and Share
    • Easy to configure, simple to use and solves the complexity of payroll processing
    • Reduces workload on MIS, Simplifies computation and brings complete Statutory Contribution / Deduction calculation with required returns and forms as per the statutory requirement. 
    • Structured as per requirements, Hassle Free compliance, Maintains statutory requirements and Good Governance Practices

    India’s leading Business management Software Company, Tally Solutions announces a perfect solution to simplify the complexities faced by the HR department of the organizations. Tally’s ‘Payroll module’ which is completely integrated with the business management solution is capable of hassle-free payroll processing and also manages the accounting processes. With the availability of the ‘Trusted Remote facility’ it is now easy to access, process, and manage the payroll information from anywhere and anytime in the world.

    The Payroll module from Tally.ERP 9 doesn’t require any specialized IT/HR professionals to manage and deploy. Being a self-manageable and implementable solution, it can be installed deployed and managed by an accountant or any HR personnel of the company. The payroll module provides flexibility to handle all complex payroll calculations like weekly, fortnightly, one-time, production based (e.g. piece rate) and time based (e.g. Overtime). It also covers relevant statutory compliances like PF, ESI, PT, Gratuity, Bonus etc. Hence it not only saves cost of hiring multiple resources to deploy and manage the software but also the expenditure incurred by way of paperwork involved.

    “A business owner would like to be assured about the accuracy of payouts and meeting the statutory compliances. Here meeting timelines is critical to ensure that the business is not affected by overlooking compliances. In the upcoming release - Predefined Rules and Calculations set by Income Tax Department will be incorporated in the software. For us this means Payroll and Income Tax is simplified” said Mr. Shoaib Ahmed, President, Tally Solutions.

     

    Tally – Payroll just takes 5 simple steps to generate the Pay slip. When it comes to computing deductions/contributions such as PF, ESI and PT from Employees salary, HR and accounting functions merge to provide error free compliance.

    Generating MIS reports across branches such as Head Count, CTC, tracking leave, attendance Employee Loans and  the requirements to calculate arrears with both prospective and retrospective effects for all employees or selected employees is handled with ease. The arrears computation also takes care of all the relevant statutory requirements. Furthermore, it also facilitates Department wise salary changes and can inherit the changes to all employees belonging to the respective department or Group.

    Flexibility, Accuracy, Simplicity, Easy Access across all branches and Integration of information with HO makes the Tally.ERP.9 Payroll a complete solution for all businesses to pursue.

    MIS Reports

    • Pay Sheet/CTC report
    • Head Count
    • Expat reports such as VISA, Passport and Work Contract reports

    Necessary Payroll Documents

    • Pay Slips can be printed, exported or emailed to respective employees
    • Payment Advice for the Bank for timely payouts of salary

    The following statutory features have been incorporated in Tally.ERP 9 Payroll:

    Employees Provident Fund (EPF)

    • Provides automated computation and deduction/contribution of Employees’ & Employer’s Contribution towards Provident Fund
    • Provides a predefined PF process to expedite voucher entry and accurate processing of contributions
    • Generates the following Monthly / Annual statutory Challans & Reports like : 
      - PF  Statement like Form 3A, Form 6A, Form 12A, Form 5, Form 10, Form 3A DBF, Combined Challan etc.

    Employees State Insurance (ESI)

    • Provides automated computation and deduction/contribution of Employees’ & Employer’s Contribution towards Employees State Insurance
    • Provides predefined ESI process to expedite voucher entry and accurate processing of contributions
    • Generates the following Monthly / Half Yearly statutory Challans & Reports like:
      - ESI Monthly Statement, - ESI Monthly Payment Challan, Form 3, Form 5, Form 6 etc.

    Professional Tax (PT)

    • Provides automated computation and deduction of Professional Tax based on user-defined Slab rates
    • Provides predefined PT payment process to expedite voucher entry and accurate payment of Professional Tax 
    • Generates following PT Reports like :
      - PT Computation Report with Slab-wise details of Professional Tax by the Employer and the PT Statement

    Payroll Processes
    The following pre-defined payroll processes have been provided to automate different functions in Payroll:

    • Salary Process – Automates the Computation of Salary
    • PF Process – Automates the Computation of Employer PF Contribution
    • ESI Process – Automates the Computation of Employer ESI Contribution
    • Salary Payment – Automates the Payment of Salary
    • PF Payment – Automates the Payment of PF
    • ESI Payment – Automates the Payment of ESI
    • Professional Tax Payment – Automates the Payment of PT

    About Tally Solutions
    Since its inception in 1986, Tally Solutions has simplified business processes and enhanced the productivity of small and medium-scale enterprises with its powerful business accounting and inventory management software.

    The company's tremendous progress is validated by various research agencies and media houses who have named Tally as one of the fastest-growing software product companies in India.

    Guided by its core philosophy "Power of Simplicity", Tally Solutions has pioneered the code-less concept in accounting and business management software and continues to improve by leveraging new technologies to offer innovative features and capabilities.

    The sphere of operations currently spans the Middle East, Africa, the Indian sub-continent, Asia-Pacific and the UK.

    For its simplicity in use, versatility in its technology – Tally has been the recipient of a number of awards and accolades - the prestigious IT National Excellence Award; 360 Magazine's Golden Rhino Award; Franchise Award for best in Education Coaching & Training; VARIndia Star Nite Award for Best Financial Software, CRN Outstanding Channel Contribution Award 2010 to name a few.

    For more information, visit www.tallysolutions.com

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