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Tally is a popular accounting software that is widely used by businesses to manage their financial transactions, including payroll. Here are 20 important features of payroll in Tally:
Employee master creation: Tally allows you to create a master record for each employee, which includes their personal details, employment details, salary details, and other relevant information.
Attendance management: Tally enables you to record and manage employee attendance, including leave, overtime, and late coming.
Payroll processing: Tally provides a comprehensive payroll processing system that automates the calculation of salaries, bonuses, and other benefits based on the employee's attendance and other details.
Pay slip generation: Tally allows you to generate pay slips for each employee, which provides a detailed breakdown of their salary, deductions, and net pay.
Statutory compliance: Tally ensures compliance with various statutory requirements, such as PF, ESI, PT, and TDS, and provides reports for submission to relevant authorities.
Employee loan management: Tally enables you to manage employee loans, including tracking loan amounts, interest rates, and repayment schedules.
Reimbursement management: Tally allows you to manage employee reimbursements, including travel expenses, medical expenses, and other expenses.
Salary revision management: Tally enables you to manage salary revisions for employees, including changes in salary structure, increments, and promotions.
Gratuity management: Tally allows you to manage employee gratuity, including tracking the eligible amount, calculation, and payment.
Bonus management: Tally enables you to manage employee bonuses, including tracking bonus eligibility, calculation, and payment.
Arrears management: Tally allows you to manage employee arrears, including tracking the amount, calculation, and payment.
Leave management: Tally enables you to manage employee leave, including tracking the number of leave days, types of leave, and leave balances.
Employee tax management: Tally provides a comprehensive tax management system that automates the calculation and deduction of taxes based on employee salaries.
Pension management: Tally allows you to manage employee pensions, including tracking the eligible amount, calculation, and payment.
Salary advances management: Tally enables you to manage employee salary advances, including tracking the amount, interest, and repayment schedules.
Integration with attendance devices: Tally allows integration with attendance devices such as biometric machines and RFID devices to automate the attendance management process.
Customization: Tally enables customization of payroll features to suit the specific requirements of your business.
Security: Tally provides security features such as access control, user management, and audit trails to ensure the confidentiality and integrity of payroll data.
Reporting: Tally provides various reports related to payroll, including payroll registers, payslips, statutory reports, and other customized reports.
Multi-currency support: Tally supports multi-currency transactions, which enables you to manage payroll in different currencies for employees working in different countries.
