The payroll needs to be finalized before disbursal. The finalization of payroll means that the payroll is finally checked before disbursal. The salaries can be finalized either by the approver or the HR manager. This topic discusses how the salaries can be finalized.
If the approver is configured in the system then once the salaries are approved by the approver, the salaries are considered finalized and are moved to Finalized tab. However, if the approver is not configured then the salaries need to be finalized by the HR Manager. Once the salaries are finalized, no modifications can be made to the salaries. If modifications are required, you can only erase and recalculate the payroll.
To finalize and recalculate the payroll, you need to:
- Initiate Payroll Run
- Calculate Payroll
- Finalize payroll.The payroll can be finalized by the approver or HR Manager.If the Approver is configured, follow the sub-steps given below to finalize the salaries:
The payroll calculation for all the employees is approved and finalized by the approver. Once the payroll calculation is approved, you get a message that suggests that the payroll is approved for the specified pay period on your home page, as shown in Figure 1.
b. Click View link on the message.
The approver verifies the payroll and finalizes it. During verification if the approver finds any error, (s)he can send it for recalculation. A rejection message for one or more payroll records appear on the home page, as shown in Figure 1, above.
The records for which recalculation is recommended by the approver appear with icon, as shown in Figure 2.
c. Erase the payroll by clicking on the icon for the record(s) and then calculate the payroll again, as shown in Figure 2.
The employees whose payroll is erased appear in Not Calculated tab, as shown in Figure 3.
For the erased payroll, you need to Run the payroll process again. To know more about running the payroll process, click Run Payroll.
d. Click Finalized tab to view the records that are finalized, as shown in Figure 4.
If the Approver is not configured, follow the sub-steps given below to finalize the salaries:
The Calculated tab displays a list of employees whose salaries are calculated.
a. Select the employees whose salaries need to be finalized. You can select All checkbox in the header to select all the employees together.
b. Click Finalize Payroll link.
c. Click OK on the confirmation message that appears, as shown in Figure 5.
The payroll is successfully finalized and a message suggesting the same appears, as shown in Figure 6.
The finalized records appear in Finalized tab with their number. For example, if 9 records have been approved and finalized by the approver then number 9 appears in Finalized tab, as shown in Figure 7.
Once the records are finalized, adjustments cannot be made to them. You can only delete or view the records. If you delete the records, they will be moved to Not Calculated tab and you will have to follow the same process of calculating the payroll again.
You can now disburse the salaries. To know more about disbursing salaries, click Disburse Payroll. Before disbursing salaries, you can set the payment mode of salaries. To know more about setting the payment mode of salaries, click Set Payment Mode.
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