360PMS – The Payment Management Solution is an easily scalable system that is a best fit for all industries.
It enables businesses to handle all their employees’ financial records in a hassle-free automated fashion. This includes but is not limited to salaries, allowances, deductions, and payslip history.
Additionally, the application can reside on the cloud, on the company’s server, or in both environments (hybrid).
In this module, the user sets up the company profile and the allowances, deductions, and loans data fields found on the payslips:
1. Company Settings
All company details for example phone number, email, address, the company logo will be captured in this feature.
This feature sets up all global (companywide) allowances and unique (employee-specific) allowances.
This feature is also entered as a global deduction and or unique deduction. Deductions can also be categorized based on a fixed value or a percentage of the employee’s salary.
The loans feature is fully integrated with 360HRM. Utilizing 360HRM an employee can apply for a company loan and receive approval. Upon receipt of approval, the accounts department manages the loan request via the loan feature in 360PMS.
The bank feature allows the user to add a listing of all financial institutions where an employee’s pay will be directed. The bank name and the R/T number is captured for ease of wire transfer
This module provides payslip details for each employee. These details are manually entered or through seamless integration with 360HRM (Human Resource Management), auto-populated from the central data repository shared between 360HRM and 360PMS.
All payroll information entered has full trackability i.e. who entered the data, who edited the data, and the date and time of entry or edit. The system provides full details of each employee’s historical payroll information, monthly payslip details, and year-to-date payslip information.
Complete oversight of each employee’s payslip information can be viewed and edited as required. Critical data such as allowances, deductions, banking details, and loans will be entered to facilitate storing and generation of payslips.
Payroll batch run processing allows the user to select any pay period whether past, current, or future. The user can run payroll in batches, by individual employees or groups of employees. The payroll is autogenerated and payslips are emailed to each employee.