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The Monthly Payroll system provides all the features and facilities to operate a comprehensive monthly payroll system. As with other TITAN accounting systems, this system can be used either as a stand-alone system, or combined within a fully integrated TITAN accounting system. If you print the correct reports, you can use them to input data to your General Ledger system.
Selected criteria met by the Monthly Payroll system are listed below;
- Flexibility to comply with the changes that occur in the labour market.
- Increased productivity from personnel staff, as a result of the easy-to-use, menu driven concept.
- Controls to monitor, what is often, a company's largest overhead.
The following profile shows the scope and flexibility of the TITAN Salaries system;
- Static payroll data
The system retains a large amount of static information for each employee. All personal details, employment history, accounting codes, occupational grades and any pertinent information that does not require perpetual maintenance, can be entered against employee records. This enables the personnel staff to be productively engaged only in essential data input per payroll cycle. The static payroll data may be enquired upon, or amended at any stage.
- Earnings type
Basic salary, additional earnings and fringe benefits, are the earnings classifications catered for by the salaries system. Each earnings category is classified by earnings type for tax purposes and statistical return such as IRP5C returns.
- Open-ended earnings and deductions categories
The system caters for an unlimited range of earnings categories for your company as a whole. The company has complete flexibility in determining and processing a multitude of salary packages.
As further benefits are instituted or employees become eligible for such benefits as bond payments, schooling allowances and travelling allowances, it is a simple process to include them immediately in the monthly payroll. As circumstances demand the structure and rates of remuneration can be enquired upon and amended.
Similar to the earnings categories, the deduction categories available in TITAN are unlimited for your company as a whole. Standard deductions, for instance, PAYE, pension, UIF and Medical Aid are obviously catered for within the system.
In addition, any other type of deduction such as, loan repayments, garnishee orders and additional tax can be entered against an employee's record. Amounts to be deducted can be calculated in any manner required. Some of the typical deduction methods are, a fixed monthly deduction for an indefinite period, a fixed amount for a fixed period, or the reduction of a capital balance by a fixed monthly amount.
Deduction categories can be classified by the following deduction types; fixed period, indefinite period, tax rebate and reducing capital, using either a fixed amount or as a percentage of basic pay. Deductions may be taxable or non taxable.
- Automatic payment
To avoid unnecessary additional input and ensure the full productivity of the personnel staff, the system has an automatic payment facility. If no changes are made to an employee's earnings or deductions, a payslip is generated with no further input being required.
- Payroll review
Before processing the salaries payroll a review of the details may be completed. This allows for thorough checking, correction of errors and the receipt of the required authorisations.
- Exception warnings
To aid the control over salary disbursements, warning messages are generated whenever maximum pay amounts are exceeded.
- Alternative currency payment
Payment of employees in foreign countries is easily made, using the multiple currency facility. Each employee is set up with the currency code applicable to the country in which he works and thereafter only a table of exchange rates needs to be maintained.
- File change protection
Any changes made to masterfile data are also logged to a special file which is then available for auditing and authorisation purposes.
- Multi-mode operation
The system allows the salaries system to operate either on an exception basis or on an employee by employee basis.
Using the exception mode, only those employees who have pay details that are different from the norm are entered. All other employees are taken to be as per their normal earnings and deduction scales. The second mode allows the pay details for each employee to be changed in turn.
- Multiple payment methods
Allows the salaried staff to be paid by cash, cheque, bank clearing or bank transfer.
- Dynamic table maintenance
Deductions that are calculated using tables, for instance taxation and medical aid, may be processed by the system. When table rates are amended, only the contents of the table require amendment and not individual employee records.
- Customised Payslip, Cheques and Statutory forms printing
The system utilises a user-defined grid reference code to control the position of printing on these vouchers. This reduces the expenditure incurred in implementing a new salary system by using existing forms. In addition it is a simple process to cater for new designs when required.
- Full audit trail
It is important for the company's auditors to be able to trace transactions through the system, and imperative that management have the necessary controls over expenditure. The system is designed for complete auditing and a number of reports are automatically produced, to ensure that strict authorisation and control procedures are followed.
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