Finalize Payroll

This help page displays steps to finalize payroll that refer to the final verification of payroll records before disbursal. The salaries can be finalized either by the approver or the HR Manager/ HR Admin. This help page demonstrates steps to finalize employee salaries.

If there is an approver in the process, then salaries are approved and finalized by the approver. Go to Not shared with employees tab. However, if there is no approver, the salaries need to be finalized by the HR Manager/ HR Admin. To know the steps to include an approver in the payroll process, click on Configure the payroll process.

Watch a short video on how to configure global payroll settings in just a few clicks

Post finalization, no modifications can be made to the salaries. If modifications are required,  you can only erase and recalculate the payroll.

To finalize and recalculate the payroll, you need to follow these steps:

● First, initiate the payroll process. To do that, click on the Initiate Payroll and follow the steps.

● Then calculate the payroll after payroll initiation. After the payroll calculation, finalize the payroll. The payroll can be finalized by the approver or HR Manager. The steps for both methods are shown below.

I) Payroll Finalization by Approver

If the Approver is configured, follow the steps given below to finalize the salaries:

● First, the payroll is prepared, and it is submitted for verification. To do that, click on Submit Payroll for Approval and follow the steps.

● To learn how an approver verifies and approves payroll, click Verify and Approve Payroll. The payroll calculation for all the employees is finalized and approved by the approver. Once the payroll calculation is approved, the HR manager/ HR Admin gets a message that the payroll is approved for the specified pay period.

Note: The approver verifies and finalizes the payroll. During verification, if the approver finds any error, (s)he can send it for recalculation. A rejection message for one or more payroll records appears on the home page.

Once the approval is successfully done, follow the instructions below.

● Click View on the message.

● The Not shared with employees section appears on the screen. The salaries shown here are the finalized salaries for the selected employees.

Note: The number of sections in the In Process tab may vary depending on the Empxtrack version that you are using.

● Click Reports to view bank, statutory deductions, consolidated payroll and variation reports.

● Perform multiple functions on the page such as View payslips, Download, Calculate logic, Delete and View TDS advice.

II) Finalize Payroll without Approver

If there is no Approver involved in the payroll process, follow these steps to finalize the salaries:

● The Not finalized tab displays a list of employees whose salaries are calculated.

● Select the employees whose salaries need to be finalized. Select All checkbox in the header to select all the employees together.

● Click Reports to run reports (such as variation, statutory deduction and consolidated payroll reports) to compare the payroll run with a prior run.

● Now, click Finalize button to finalize salary of the selected employees.

● Click on the confirmation message that appears. The payroll is successfully finalized and a message suggesting the same appears. In the Not shared with employees section, the finalized salary records appear with details of Days worked, Gross salary, Deductions, Net Payout, Payment mode, Disburse date and Action icons.

● Once the records are finalized, adjustments cannot be made to them. You can only perform the following functions: delete or view salary records, view TDS advice, download the payslip or view the calculation logic. If you delete the records, they will be moved to Salary Not Calculated section and you will have to calculate the payroll again.

● You can now set the payment mode to disburse the salaries.

Suggested Links

• Initiate Payroll
• Calculate Payroll
• Adjust Payroll
• Submit Payroll for Approval
• Set Payment Mode
• Disburse Payroll
• Manage Challan Info
• Capture Multiple Challan
• Capture Challan TNS 281 Details
• Generate Form 24Q
• Add Acknowledgment Info
• Employee data verification and update
• Import number of days employee worked
• Update out of payroll payments
• Calculate deductions and set up disburse date
• Share payslips with employees
• View Payroll Reports
• View and download statutory reports and challans
• Setup and Upload Monthly Sheet
• Clear Payroll