Product Description

“Folklore Payroll” is an accurate, fast, flexible and easy to use solution for the Personnel / Payroll / Finance department to cater to accounting and management of employees’ Payroll and generate all routine, statutory and management reports maximizing your payroll processing productivity and enhance your profits. It meets the requirements of small to mid-sized to large businesses, accountants, and payroll service providers.Flexibility to add or modify any number of Salary Components of a variety of Component Fill Methods like - Hand Entry, Formula, Lookup and Customized calculation.
Easy editing /entry of values for components irrespective of type (like loans, income tax, reimbursements, bonus, incentives etc.) by just double clicking on it to launch the respective agent/screen (eliminates the hassle to navigate to locate the same options in different menus).
Facilities to process arrears for one or more employees on applicable
component(s) from any previous date/month any pay the same under a
separate component(s) in the pay-slip.
Comprehensive final settlement module to manage settlements including automatic calculation of outstanding loan balances, notice pay and leave encashment and Income Tax.
Complete handling of Over-Time (OT), notice pay, leave encashment,
canteen deductions, bonus etc., with optional configurable customized
calculations.