What does ODOO mean?
ODOO is a business administration software, that is used to direct the fundamentals of a management, such as finance management, material management, human resources, manufacturing, billing, management of projects and also several necessaries. Most of the companies are using ODOO because it provides a clear sight of your business.
Payslip generation is one of the actions easily achieved by ODOO. Let’s look into this in detail.
Generating Payslip in ODOO
Payslip is created naturally in ODOO. Initially, you have to add the employee details like salary structure, the contract that the employee is working in, payroll and employee module, then the payslip will be automatically generated.
Each employee has their own contract. So the foremost thing is to build the contract of an employee. Then look over for the active contracts. Active contracts of an employee define the working plan, time span of your work, basic salary and also other essential requirements.
Firstly, for generating payslip of an employee, you have to construct two basic things,
- Contract of the employee
- Salary structure
Employees can have one contract or more than one contract, generally decided by the management. The salary structure consists of a group of things that includes many salary rules. Based on these rules salary computation should be made. All these configurations are made under the payroll settings.
Contract creation in ODOO
Making a contract is the prime thing a company should do when assigning an employee. These configurations are made under the employee module. The employee module includes,
- Contract type
- Monthly payments
- Contract name
- Name of the employee
Working plan, salary structure, basic pay, time plan and payment schedule are subject to contract type. Salary journal is the compulsory field in the payslip which contains the accounting details. Once the contract form is filled press the status button to make it done.
Salary structure in ODOO
For calculating the payslip of an employee salary structure should be made by the organisation. This determines the payment of an employee. Salary structure usually consists of a set of rules and we can also make some additional rules for certain employees.
Salary rule in ODOO
Based on the salary rule, computation of the payment should be made. These rules are formed using the employees monthly wage, start and ending day of the contract, basic allowance and deduction, scheduled pay, gross and net salary. A unique code is shown on the payslip that is used for some future reference.
Generally, payslip is like a file that is enclosed with employee details like payment, record of earned money, insurance, taxes and so on. Employees payslip can be generated in accordance with the salary structure mentioned in the contract. The generated payslip can then be verified and transferred into PDF and need to be approved by the higher officials. Journal entries are also made by the managers during the verification of the payslip. This information later will be used for payment by the authority.
Under the menu of employee payslip, payslips can be created. This menu can be noted in the right window.
To enable a batch of employee payslip, choose the menu payslip batches.