Correct and simple payroll calculations

Transcription

1 Payroll Correct and simple payroll calculations Columbus Payroll Pan Baltic Solution Microsoft Dynamics AX 2012 product overview Solution for Pan-Baltic enterprises that enables to calculate payroll quickly and flexibly

2 1 Save time on data collection Time-saving payroll process Connected with financial accounting and automatic entries Majority of the data needed for payroll is created in another department or subdivision HR department deals with contracts, manufacturing saves timekeeping information, manager receives leave requests, etc. Payroll starts from gathering and processing this data. The less time is spent on creating the input, the more time there is to focus on the subject and output of the calculation, because any mistake in payroll calculations might lead to major discontent. Columbus Payroll is connected to the Microsoft Dynamics AX Human resources module, using the same data about the employee, work relation, position and person. This allows to gather total information about the employee that is available in the system, and from all modules manufacturing, timekeeping, personnel management, project management module or self-service. The connection with financial accounting is established through the shared cost attributes, payment methods, bank and ledger accounts and through automatic general ledger entries that are generated for payroll calculations and payments.

3 2 Submit reports at the right time Synoptic reports Always relevant payment solution Convenient e-state interface * Payroll data needs to be presented to the interest groups at the right time and format. Report obligation might arise from a law/regulation or if the company is selected by the statistics institution. In any case when there are more than a couple of employees, it is not easy to create these reports. Additionally there has to be readiness to present payroll reports internally at any given time for example to management, headquarters, or employees. Columbus has a team dedicated to payroll and HR solutions, who is constantly on the watch for law amendments and is responsible for keeping the payroll module reports in compliance with the law. Columbus Payroll includes the whole set of statistic reports, that covers all monthly and quarterly reporting and is transmittable both on paper or electronically (estat)* (SRS EDS (Electronic Declaration System))**. TSD can be submitted through e-tax department* (SRS EDS (Electronic Declaration System))**. Employee payslips can be sent straight to their addresses. The module includes a set of reports for the State Social Insurance Fund Board and reports for the State Tax Inspectorate*** or State Revenue Service**, which are prepared in the required format. * Valid in Estonia ** Valid in Latvia *** Valid in Lithuania Would you like to know more? Check out for additional information about Columbus, success stories and product introductions.

4 3 Accurate payroll allocation Thorough payroll analysis Payment and withholding types that can be adjusted based on the company needs Depending on the field of the company, a portion of labour costs in the company can vary from ten to fifty per cent of total costs. The larger the portion the more important it comes to distribute payroll accurately. Through the general ledger setting it is possible to use unlimited cost attributes to monitor payroll in Columbus Payroll. The cost attributes can be added to data at any level, starting from employee and ending with working hours. Allocation accuracy is limited only with the accuracy of the initial data and tax expense is divided automatically following the proportions of the payroll costs. The solution has adjustable payment and withholding types, to which different general ledger account rules can be added. Posting settings can be set to use periods where entry for tax obligation applies in the payment month or where vacation payment cost entry applies for the month the vacation is taken.

5 4 Simple leave calculations Convenient leave balance accounting Possibility to add company-specific leave Reserve accounting Employees have the right to take vacations and employers have a duty to know that and allow it to happen. Seems simple but in reality there are several kinds of absences and the right for them applies on different grounds, starting from the type of contractual relationship until the age and number of children. This information has to be accounted for and at any given moment it must be clear how much and what type of leave an employee is entitled to. Columbus Payroll helps to keep account of the balance of all vacations entitled by the law and the balance is calculated automatically when altering employee data and all necessary conditions are met. For example after entering information about a child, the balance for paternity leave or additional child leave is added together with the information about the period when it is allowed to be used.* If necessary, company-specific vacation balances and entitlement rules can be entered, to keep account of winter, seniority or other leave types. An employee cannot use more leave than he or she is entitled to for the period, and the vacation balance is always visible and changes automatically with the usage of the leave. Part of the solution is accrued vacation calculation, which helps to calculate annual holiday balance for employees into cash based on average daily earnings and insert entries to the general ledger for obligation correction every month. It is also possible to use accrued holiday pay correction for each annual holiday pay or compensation calculation. * Valid in Estonia

6 5 Have e-state working for you* E-tax (tax declarations etc) Estonian Health Insurance Fund Registration of a new employee is easier, because the working registry (TÖR) is just a click away. It is also easy to avoid manual data entry mistakes with an inquiry to the pension centre. Same simplicity accompanies the sick leave management and tax declarations. When using the business software as a whole, the user would also find great help from the bank interface that in addition to supplier payments can also facilitate any employee-related payment transfers. * Valid in Estonia

7 What options does Columbus Payroll offer? * Valid in Estonia ** Valid in Latvia *** Valid in Lithuania Employee data Personal data, contact information and information about people close to the employee Information and systematic storage of the employment contract Holiday and vacation balance management Vacation schedule management Managing withholdings (collection letters, alimony, training arrangements) Salary and taxes Fast payroll accounting Checking social tax minimum* Single, group and company level accounting Accounting for specialty tax (e.g. non-residents) Option to import working time tables Option to import payments and withholdings Composing general ledger entries Flexibility and security Adjustable types for payments, withholdings and absences Adjustable tax base (minimum wage, Income tax percentage, non-taxable income amount, etc.) Detailed cost division Access limitations within companies Reporting Packages for statistics reports*, ** Reports for the State Social Insurance Fund Board*** Reports for the State Tax Inspectorate*** Reports for the State Revenue Service** Different authority letters for employees Fontes report* Accrued holiday pay report Inquiries Employee information Contract information Salary analysis Pension centre inquiry * Additional options E-state interface automatic data sharing with the state information system* Bank interface reminders on relevant dates or occurrences Data import to Excel for further processing Possibility to develop additional company-specific functionality

8 Columbus Estonia Tallinn Veerenni 58A Tartu Soola tn 8 eesti@columbusglobal.com Columbus Latvia Rīga G. Astras 8b sales@columbus.lv Columbus Lithuania Kaunas Savanorių Vilnius Verkių 25C info.lt@columbusglobal.com Would you like to know more? Check out for additional information about Columbus, success stories and product introductions.