Odoo’s the ultimate payroll software, helping company operations remain efficient while managing payroll thoroughly and effectively. For a company’s financial accounting and to the benefit of employees, you don’t have to worry about payroll issues working with Odoo. By customizing the software to your business needs, using it is simple.
After you’ve installed the Payroll and Payroll Accounting features, you can set your salary rule categories. Salary rule computes data relating to allowances, deductions, net, taxes, contribution registers, and more. You can define the salary rules yourself, something key to your salary structure.
From there, optimize your salary structure which is the component in Odoo identifying what the salary of an employee is. Salary can be decided on in Odoo based on the employee’s category, length of service, and responsibilities they are handling. Salaries are calculated with allowances, deductions, and incentives included.
If you have individuals working under a contract, you can use Odoo to enter in key information such as working schedule, scheduled pay such as bi-weekly or monthly, and wage structure. Payslips are then generated automatically based off all the information you’ve entered in so far.
Odoo also keeps track of what contributions your payroll is responsible for. Track each employee’s contributions in a registry showing to whom the company owes taxes and other deductions.
In Odoo’s payroll application, you can set rules for leave deductions. If you encounter an unpaid leave within the context of a regularly scheduled monthly pay cycle, it can mess up payroll. Using Odoo, you can format your payroll to uphold accuracy regardless of how many unpaid leaves or short leaves there are.
Link with accounting.
Perhaps the best thing about Odoo payroll is that so much is automatically generated, including payroll slips. Then, it’s easily linked to Odoo’s accounting system which can be crucial to keeping your books up-to-date and accurate. If the Accounting and Payroll apps are linked, after every payroll slip, automatic journal entries are created according to the settings you have.
Beyond these basics, there are other things that can be done to customize Odoo specific to your payroll needs. Modules which can be integrated include timesheet management, attendance recording, and printing cheques for employees. The contribution registry can also be employed to fill out various end-of-year reports and tax forms as needed.
In a perfect world, payroll should be easy to administer. Unfortunately, it is not always. Integrating your payroll into Odoo, you keep things simple. Set up your payroll today to keep things easy for yourself.
Write your own salary rules and structure the software so that it works for you. As payroll’s likely your biggest expense, this isn’t a place for mistakes. Configuration of Odoo will help minimize human error and ensure all you need to do is enter the numbers recorded.
Using Odoo, you have full control over your accounts and how payroll’s administered. Create the payroll rules right for your business. Payroll, taxes, and accounting just got a lot easier. Choose Odoo today.