Payroll Singapore

Introduction

The Payroll module enables users to streamlines the payroll process and simplify tax compliance by automating payroll calculations, maintaining tax compliance, managing employee data, and providing real-time payroll information. This module generates payroll reports for analysis, compliance, and stakeholder communication.

Note: some minor setup is required to make the Payroll module fully functional.

Set Up Payroll Singapore

To set up the Payroll Singapore module and the General Ledger Accounts, please watch the 1ERP Initial Setup video. It is recommended to set up the Payroll Journal accounts before using the Payroll Canada module.

Features in Payroll Singapore

Payroll Info

Navigation: Payroll Singapore -> PayRoll Info

The "Payroll Info" screen captures payroll information for your organization, including the number of pay periods and Central Provident Fund Board (CPF) and Ethnic Deducation information to be used in calculating payroll deductions.

Salary Tracking

The "Salary Info" screen helps keep track of changes in employee salaries over time. This can include records of starting salaries, raises, promotions, and other adjustments to an employee's compensation. Salary Tracking can also track deductions such as taxes, insurance premiums, and other withholdings.

Using this system, employers can easily calculate payroll and generate reports to maintain accurate dataa and compliance with labor laws. Additionally, members can access their own salary information and monitor earnings and deductions in promoting transparency and trust between the employee and employer.

Periodic Payroll

The Periodic Payroll feature simplifies the process of generating payrolls for members of an organization by generating their payroll data. By following the steps below, users can maintain accurate records on payroll and complete the process more efficiently.

Step 1

Click on the "New" button in the "Periodic Payroll" screen to generate a new payroll. This will initiate the system to prepare the next pay period based on the pay and salary tracking information entered into the system.

Step 2

Review the Payroll Information to verify that the data is accurate. Data includes regular pay, vacation pay, CPF and ethnic deduction for employee calculation, federal and provincial tax calculations, deductions, net pay information, and CPF and ethnic deduction for employer calculations.

Step 3

Make any necessary adjustments to the payroll information, such as updating employee information or making changes to the payroll calculations.

Once the information updated is as desired, delete the earlier generated payroll and click on NEW to use the updated info to generate a new payroll.

Step 4

Finalize the Payroll by clicking the icon under the "Finalized" checkbox, once the user is satisfied with the payroll information and any needed adjustments. This will save the payroll information into the system and generate pay stubs for each employee.

Reports in Payroll Singapore

PaySlip

The Payslip report provides a comprehensive summary of employee earnings and deductions for a specific pay period. This includes details such as basic salary, overtime, bonuses, taxes, and net pay. This report is essential for employees to review their earnings and for employers to maintain accurate payroll records.

T4 summary

The T4 Summary report is an important tax document used in Singapore for reporting employee income and deductions to Singaporean tax authorities. This report summarizes the total earnings, deductions, and taxable benefits for all employees in a given tax year and is an essential tool for employers to accurately file their annual T4 slips and maintain compliance with tax regulations.

Payroll Register

The Payroll Register report provides a comprehensive overview of payroll transactions for a specific period. This includes details such as employee names, earnings, deductions, taxes, and net pay. This report is valuable for reviewing and verifying payroll information, tracking expenses, and maintaining accurate payroll records for purposes such as auditing and financial analysis.