Genius Education management is designed in such a manner that it provides integrated tools for Payroll management. It has all the features and functionality, which can create, manage and handle any School / College / University payroll structure. It has a smart prospect that can automatically create tasks, release scheduled payments, generate reports/payslips, maintain and manage bills and a large number of payouts easily. It is simple to understand the complex financial calculations and also derives very significant function in corporate world, it enables sophisticated and more international platform for the global business and trade. In the recent years, digitisation has changed the world economic growth, thus payroll is one of the most profit acquiring module. It helps in analytics to understand the different payment methods that are used by Schools / Colleges and Universities.
Paying workers reliably and with no delays, certainly increase their confidence, also it emulates the organization's money related dependability. Additionally, it is a kind of necessity for maintaining with government and state laws. While this is an intricate procedure, having an effective framework streamlines and bring together the payroll method. The process alludes to the administration of an employee's monetary records which includes the salaries, compensation, bonuses and final net pay.
The payroll management is one of the most used software that has ever built for the corporate world, it creates a better solutions for different organization. They implement this system for the advancement of future organization goals. According to the survey conducted by Global Payroll, it stated that almost 60% of the organization implements the payroll management in their organization, as they understand the potentials of eliminating irregular paychecks and payment of tax from the top level authorities.
KEY FEATURES OF Payroll Management
The School / College / Universities admin can manage the salary of each employee, with employee name, designation, pay head and amount paid to the employee as a salary, it can manage all the payroll activities of the institute with our Genius Education Management interactive system.
Pay Head & Pay Type
Display and manage master data type with the feature to add the different pay head, pay head name and method of payment by admin. This feature will show the list of payment type of payroll management, admin can also add other payment types in this module if needed by the authority.
Generate Pay slip
Generate pay slips and manage monthly/yearly reports. They can also generate the payslip for the different months and year. After all this process of paying the salary to the employees, it can also generate dynamic salary slips, with designation of the employees.
Payroll management can sync automatically with employees bank, making salary tracking smooth and efficient. With bank sync, all the transactions will be naturally categorized, letting employee focus on what really matters. Thus it will help in direct transferring of salary into the employees account.
Reporting Tool is a significant movement towards a better improvement of business intelligence and knowledge management. Many times, tools performance involves coordination with appropriate data while using reporting tools. It can be displayed in printable form or via emails. It can create various kind of customised reports which involves format that is in human readable report form.
In this feature, admin can add the employee salary with effect to the date of releasing the salary, he/she can view the name of the employee with their designation, date of joining, and the department in which employee is working. Admin can add, change or edit the employee salary list, and connect the account with their bank account.
Benefits of Payroll Management
- Schedule and arrange salary disbursements for a heavy amount of workforce.
- Get credit and debit notifications for all the transactions.
- Complete integrated HR module with Payroll management.
- Genius Education management makes payroll of any employee fast and smooth, which helps in time-saving.
- It secures and maintains all the employees payroll information and data, thus providing better security for the confidential employees personal information.
- The payroll management is cost-effective as it saves 30% admin cost of Institution.
- It can easily calculate salary, bonuses, expenses, with minimum effort.
- Generate accurate payslips for each and every employee.
- Access online payment portals Anywhere, anytime with reduce paperwork and facilitate payroll functions.
- Genius Education management provides the automated payroll functions system which helps in reducing the duplicate data entry, saving time and reducing errors.
Genius Education management is designed with the tagline "Enhancing Education System". It is a user-interactive, flexible, robust, easy-to-access and diversified software platform, which can be embedded in all the generation devices.