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Employee Pay Setup

Overview

"Employee Pay Setup" is a core component within the Human Resource Management module of LinkSOFT, designed to streamline the management of employee compensation. It provides a centralised location for defining and and maintaining all aspects of an employee's recurring pay transactions, ensuring consistency and reducing the potential for manual data entry errors. This setup is crucial for automatically generating pays, as it includes permanent transactions that are automatically copied into an employee's current pay when a pay run is initiated.

Here are the key elements managed under Employee Pay Setup:

  1. Allowances: This section is used to configure pay codes that are regularly disbursed to employees. Allowances can be set to active, closed, inactive, or on hold, controlling their inclusion in payroll. These are setup with controls to specify when they should stop.
  2. Benefits: Similar to allowances, this allows the setup of pay codes representing employee benefits that are paid out in each pay cycle. Benefits also have various statuses to manage their payroll flow, and include controls to specify when they should stop.
  3. Deductions: Here, pay codes for amounts to be regularly deducted from an employee's pay are defined, with controls available to manage when these deductions commence and cease. For employees without a superannuation ID, their employee ID can be used in the super ID field on the service tab to set up deductions. Missed recurring deductions can be added to an active pay by temporarily removing and then re-adding the employee.
  4. Direct Credit: This feature enables the recording of multiple bank account details for employees who receive their pay directly into their bank accounts. It facilitates splitting net pay across different accounts and is essential for bank file generation, with options to change bank account details for employees with an active pay.
  5. Superannuation: This tab is dedicated to maintaining employee superannuation details, including the superannuation fund and employee member ID. It supports setting up multiple funds and allows for importing superannuation details via a template for efficient setup, including compulsory and excess contribution rates for both employee and employer.
  6. Standard Pay Entries: This area allows users to view and establish permanent, recurring pay transactions for employees, which are automatically included in each pay. This includes normal hours, superannuation, tax, and banking components, streamlining the payroll process.

Employee Pay Setup has the following tabs and these are available based on security access:

  1. Allowances
  2. Benefit
  3. Deductions
  4. Direct Credit
  5. Superannuation
  6. Standard Pay Entries