Set Payment Mode
You need to now optionally set the payment mode for the disbursal of salaries. By default the Wire transfer payment mode is set for all the employees, which means direct deposit of salaries to the bank accounts of employees.
The Set Payment Mode functionality allows you to modify the mode of salary payment for the employees. The different types of employees in a company may be paid salary differently. For example, salaries of trainees can be paid in cash, contract workers through cheque, and employees through wire transfer.
This functionality also allows you to stop the salary of an employee even after finalizing it in the case of emergency. For example, consider, according to the company’s policy, an employee needs to surrender a month’s salary in case (s)he leaves the company without prior notice.
In such a scenario, the company can stop the payment of the employee by changing the mode of payment from wire transfer to cash. By doing that, even though the salary is finalized, it is not transferred to bank. The employee can be paid through cheque or cash if required.
To set the payment mode, you need to:
1. Initiate Payroll Run. To know more about initiating payroll run, click Run Payroll.
2. Calculate Payroll. To know more about calculating payroll run, click Calculate Payroll
3. Send payroll for approval. To know more about sending the payroll for approval, click Send Payroll for Approval.
4. Finalize payroll. To know more about finalizing the payroll, click Finalize Payroll.
5. Select the employees whose payment mode need to be set and then click Set Payment Mode link on the left side of the page just below the Not Calculated button, as shown in Figure 2-14-1.
A confirmation message about the selection of payment mode setting option for the payroll records appears, as shown in Figure 2-14-2.
6. Click OK.
The Run Payroll page displays the payroll details of all the selected employees as non editable except the Pay Option dropdown editable. The Pay Option dropdown displays three options, Wire, Cash, or Cheque.
7. Modify the Pay Option to Wire, Cash, or Cheque, as desired, as shown in Figure 2-14-3.
If you select Cheque or Cash option from Pay Option dropdown, the DD/ Cheque No/ Receipt No field becomes editable, as shown in Figure 2-14-4.
8. Provide the Cheque no in the DD/ Cheque No/ Receipt No field if you are paying the salary through cheque and provide the receipt number (if receipt is available) in the DD/ Cheque No/ Receipt No field if you are paying the salary in cash.
9. Click Save All.
The payment modes selected for employees are saved successfully.