Will this facility be included at some point? Can anyone recommend a free downloadable program for payroll?
Payroll module should be available before end of June.
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Could we get an idea of what all will be included in the payroll module?
Will it be able to maintain individual employee profiles?
Will it be able to automatically hit all relevant expenses when payroll is ārunā at the desired date?
Will it be able to deal with employee loans, advances and reimbursements?
Thanks!
Will it be able to maintain individual employee profiles?
Yes
Will it be able to automatically hit all relevant expenses when payroll is ārunā at the desired date?
It will auto-generate payslips based on employee profiles on payroll run. You will be able to edit payslips afterwards just like you can do now any other transaction in Manager. Payroll run will be really just a helper function to help generate payslips quickly with pre-filled data since these are recurring transactions that will be mostly the same every time.
Will it be able to deal with employee loans, advances and reimbursements?
Yes, it will support all that.
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Lovin it!
Any updates on release date for Payroll?
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Should be released sometime next month. It is the next big module to be released now that multi-currency has been released.
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Any ideas how to account for payroll in Manager in the meantime? Hopefully youāll release it soon!
You should create new expense account called Wages & Salaries or something like that. Then when paying employee, categorize the payment under this account.
Obviously then there are deductions, entitlements etc. which should be recorded as journal entries.
For example payroll tax would be a deduction so you would have liability account called Payroll tax or something similar. When paying employee wages, you pay only net amount. Tax portion of wages should be recorded as journal entry where you credit Payroll tax account and debit Wages & Salaries expenses.
There is a bit more to it but generally it just follows double-entry accounting principles how money is moving between accounts based on what is really happening. So Iām not really saying anything new here.
Whats the best way to import/enter the old data into the new features. Iāve used Employee as a āSupplierā and payslips as "purchase invoice"s. Any suggestions?
Thatās not good. I wonāt be possible to convert purchase invoices to payslips and suppliers to employees in automated way.
Why have you used purchase invoices anyway? Wouldnāt it be easier just to record payment from bank account which would be simply categorized to some Wages & Salaries expense account? I just donāt see point of purchase invoices for employees since you pay them on the day you issue them, so it could have been entered as simple payment transaction rather than invoice+payment.
Hi Lubos,
Would there be further update on this module?
Iād like to suggest the following:
- The Payslips would have the option to pay (Similar to purchase Invoices where you have the option to pay)?
- Similar to purchase invoice, could we view how much been paid?
Thank you for making this wonderful program
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Iām going to work heavily on payroll module this month and there will a lot more added in upcoming 2 weeks. Yes payslips will work similar to purchase invoices in some regards.
I am looking for payroll capability and note that one is in progress. I am not aware of when the previous messages have been posted on the forum, and am wondering (1) what the target date is for payroll capabilities to arrive, and (2) what I will need to do to access and incorporate it into the existing software. Can you help me with these questions?
Those messages are from a week ago and payroll is still work in progress. There is no really any target date, the module will be receiving improvements until it meets all requirements.
Occasionally our company gives short-term loan to our employees. At the end of the month then their pay will be deducted from their salary.
For the time being, I created accounts in Chart of Accounts for each employee (I know not a good idea) to know how much loan been given to an employee. Then using journal entry to deduct it from their payslip.
Is it possible for Manager to facilitate this make it a bit more integrated with Manager?
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Yes, this will be possible. Each employee will have their sub-account just like customers and suppliers have so it will be easy to see how much each employee is owed even if they are paid some funds in advance. I hope to make this available before end of this week. Will update this thread when implemented.
Very very much appreciate your efforts
Will there be a paid icon in the payroll when we pay our employees
Thanks for all your hard work and dedication. Do you have any idea when payroll will be up and running. I am looking forward t it so much.