Our HR and Payroll Solution
Payroll Process Module
Magic Supports Nig. Ltd. has a very flexible Payroll module that is used by some leading companies. This has complete and comprehensive parameterized processing routines for different grades, locations and categories for the concerned payroll groups such as Regular. Trainees. Contract employees. Expatriates. Spy police and Retirees etc.
The payroll has many versatile features that provide practical help to the payroll group and are fully integrated with any environment. These are multi-company, multi-currency, multi-parameterized, multi-grade and multi-cycles.
Some of these are indicated for your quick reference:
- The Payroll has routines to add any number of earning and deduction counters. The processes can be tailored to any Government requirement and tax laws.
- There is special provision for global earning and deduction routines that come handy for the one time payment to large number of employees. This is a very useful feature for the payment of bonus etc.
- The system has features for the "Retrospective Back calculations of dues' for the specified earning parameters. Please note that the system provides for the "pay month and effective month" as 2 separate fields on the transaction files.
- The cases for "Negative payroll" cases are identified for quick reference for the payroll team for corrections if any. In such instances the effect for the deductions that are not carried forward will be rescheduled for the next month deductions depending upon the needs of the clients.
- On transfer or promotions the details in the Payroll file are automatically updated based on the requirements of the users that is finalized at the time of specifications sign off.
- There is a provision for the reference to the historical data on Payroll for the purpose of retrospective calculations and audit requirements when required.
- There is provision to link the Payroll system to Financial Accounting and any other systems such as costing for the payroll data input depending on the customer needs.
- There is a provision to generate statutory reports and standard reports from the payroll processing.
- The Payslips can be printed at the HO or can be down loaded for printing at Regional calculations.
Various supplementary reports for various agencies required are provided for in the system.
Pensions and other statutory Deductions which are customization to local Tax laws. Also, Staff Club Coop-Thrift, Staff Loan Management, Mortgage, Building and/or Land Loan, Vehicle Loan, Compassionate Loan/Personal Loan & Share are handled by the system in accordance to the laws of the land. However, the rules for the deductions and eligibility will have to be defined as per the clients’ requirements.