In the Payment Configuration section, you'll find a variety of features, each accompanied by toggle switches for easy customization of your organization's preferences.
Auto Payroll: When enabled, PaidHR takes charge of submitting your payroll automatically on scheduled payroll run days, ensuring timely and consistent payments. All that's left for you to do is approve and process the payroll.
Payment Proration: If activated, PaidHR porate employee allowances based on the number of days they've worked before the payroll deadline. This proration is often applied to new employees, based on their hire dates and includes Saturdays and Sundays as working days. Additionally, please note that this feature applies to terminated employees as well. If you prefer to pay your employees in full, regardless of the days worked or hire dates, keep this feature turned off.
Split Payment: This feature comes into play for employees with two accounts. By enabling Split Payment, you can conveniently make payments to both accounts.
Cheque Payment: Only turn this on if you won’t be paying employees salary via PaidHR. When enabled, employees will only be able to choose "Cheque" as their preferred payment option. If you prefer to deposit all employee payments directly into their bank accounts, simply leave this feature disabled.
Employee Confirmation: Enabling this feature places employees on probation until a specified probation date is reached. Set the probation date, save, and the feature will be activated.
Earned Wage Access: Earned Wage Access is a beneficial feature that empowers employers to offer their employees the opportunity to access their hard-earned wages before the scheduled payday, providing a valuable benefit that can enhance satisfaction and financial well-being. To set it up, follow these steps:
1. Click the "Edit" button next to the toggle.
2. Earned Wage Access Policy Setup:
Cut Off Day: Specify the last day employees can access their earned wages before payday by selecting a preferred day from the options.
Fee Responsibility: Indicate whether the employer, employee, or both will cover the fees.
3. Click "Next" to proceed to the Company Information and you will be required to input the following information:
Company Name
Address
Email
Company Phone Number
RC Number
TIN
Cut-off Day
4. After providing the required details, agree to the terms and conditions, save your edit, and wait for approval.
Once approved, your employees will now have the flexibility to withdraw their daily earnings before payday.
Payment File: A payment file is a concise representation of financial transactions. Customize your payment file by clicking the "Edit" button and selecting the fields you want to display, with the option to add custom fields to tailor it to your specific needs.
Payment Narration: Personalize the message your employees see when they receive their pay. To do so, click the "Edit" button and customize the narration by choosing the format (M/Y or M/D/Y) and selecting a suffix (payment or salary). Save your preferences, and this customized narration will appear for your employees when they receive their pay.