Tally can facilitate payroll. Cost/revenue Control Management under F1: Financial Features placed under “F11”: Organization Features Panel.
To create Payroll in Tally, the below steps are following:
- Tally Gateway > F11 > F1 > Accounting Features.
- Click Cost/Profit Centers Management.
- Yes, keep payroll.
- Configure Maintain many payroll/cost categories. Yes, make an employee section to distribute costs.
- Press Enter to accept, save, and return to Tally Gateway.
Payroll Info master is now adjacent to Accounts Info in Tally.ERP 9. We may now perform payroll accounting by building an Employee master, payroll units, and pay heads, and specifying the compensation structure and taxation for these components.
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How to make a payslip in Tally.ERP 9?
Tally payslips may be generated in 6 easy steps:
First, establish a master employee.
Path for employee creation: G.O.T. –> Payroll data –>staff –> Create (Single).
Tally gateway – Payroll data – workers Group – workers Group. Form (Single).
Assigning people to groups based on their job functions such as department or designation is essential here.
Then establish payroll units.
Attendance/production type creation: Attendance/ Production Types –> G.O.T. (Tally Gateway) Create.
We should determine the Production type that will be utilized to store Attendance and Production data.
Third Step
In this stage, we’ll build salary components pay heads.
Gateway of Tally – Payroll Info – Pay Heads – Pay Heads. Create.
All pay components are established under Pay Head. Pay head development in Tally ERP 9 is user-friendly and permits complicated pay heads.
Fourth Step
At this time, we’ll journalize pay.
Gateway of Tally – Payroll Info – Salary Detail – Salary Detail. Create
Here we’ll enter into Tally ERP 9 the pay data for Employee Groups and Individual Employees, including earnings, deductions, and basis of calculation.
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Fifth Step
Make a Payroll Slip with the help of the G.O.T. tab “Ctrl + F5” and “Ctrl + F4” to open the payroll slip, then “Alt + A” to automatic information.
Here’s the last step to pass the payroll voucher.
Here we will input all Earnings and Deductions in payroll transactions paid with the salary payslip for all workers.
Seventh Step
Create pay stubs.
G.O.T. (Gateway of Tally) -> Display -> Payroll Report -> View W-2 Form
Finally, we must create the Payslip, which includes the employee’s attendance information and the Tally ERP 9 system’s itemized earnings and deductions, as well as the net amount paid to him for a specific pay period.
Conclusion:
Here we listed the steps to follow for enabling payroll in tally ERP software. To get additional training, connect with FITA Academy. They offer the top-end Tally Training in Coimbatore with approved certification.