We’re delighted to announce that Zoho Payroll is now part of the Zoho Finance Plus bundle for India! With this addition, our finance suite can now handle one more piece of your back office operations: your payroll process.
The power of Zoho Finance Plus
Zoho Finance Plus is a software suite capable of managing the quote-to-cash process, maintaining inventory, coordinating delivery to customers, managing subscriptions, streamlining travel expense management, and finally tying it all back to accounts. It is trusted by thousands of businesses to manage their back offices securely from end to end.
A unified suite like Zoho Finance Plus offers two huge advantages over separate apps:
- It eliminates the complexities of managing multiple software products from multiple vendors
- Information entered in one app is contextually reflected in all the other apps
As a business leader, you get to manage your entire back office team from one admin panel and a centralized set of controls.
First finance suite to offer payroll software
Since 2017, Zoho has been the only software vendor to offer natively integrated, GST-compliant finance applications suited for smaller businesses. Now, the addition of Zoho Payroll has made Zoho Finance Plus the only platform in the Indian market to offer payroll management software among its core finance applications.
With the addition of Zoho Payroll, Zoho Finance Plus now bridges the gap between finance and HR teams. Zoho Payroll is closely integrated with HRMS and other finance apps, allowing back office teams such as HR, payroll, and finance to work in sync and accomplish collaborative tasks quickly and easily.
Zoho Finance Plus is now more comprehensive and able to handle all of the tasks that require coordination between HR and finance. Information flows seamlessly, keeping your back office operations organized and efficient.
Standout benefits of Zoho Payroll
Payroll is a mammoth task for any business. It is highly resource-consuming and offers little tolerance for errors. It’s a core function that sits between finance and HR, serving the most important people for your business—your employees.
Nailing your payroll operations right from the get-go is crucial. You need to calculate salaries accurately, pay employees on time, and show employees they can rely on you.
Zoho Payroll comes packed with smart capabilities to make payroll simple, easy, and stress-free:
Automatic payroll calculation
Salary calculation is one of the most laborious parts of payroll. With Zoho Payroll, you can create salary structures and policies that fit your organization. Deductions and taxes are calculated automatically for each pay run based on inputs like IT declarations and loss of pay (LOP) reports. Tax regimes and tax slabs for each state and union territory come built-in to enable accurate automatic salary calculation. All you have to do is click a button and disburse salaries.
Statutory compliance all year round
The Indian edition of Zoho Payroll is built to comply with central and state employment laws including EPF, ESI, LWF, professional tax, and income tax. Zoho Payroll helps you operate in compliance with these laws when processing and disbursing salaries. It also generates ready-to-upload statutory reports for filing your returns with the respective government authorities.
A dedicated channel for employees to provide inputs and collect their salary information streamlines the payroll process. Zoho Payroll hosts a dedicated employee self-service portal where each employee can download payslips and Form-16, claim reimbursements, declare IT, and submit their proofs of investment.
No more threaded emails and lost attachments. Enable smooth payroll operations with error-free calculations, faster payments, and an enhanced employee experience.
Powerful admin controls
Delegating payroll activities to your team can be worrying, since payroll software contains sensitive data like PII and employee salaries. With Zoho Payroll, create user roles with limited permissions for viewing, creating, editing, or approving specific modules of payroll like employee details, approving pay runs, salary revision, loans, and more.
Seamless integrations for smooth finance operations
Zoho Payroll comes with powerful integrations to help finance teams breeze through their responsibilities. Integrations with Zoho Books, People, and ICICI direct payments solve the core challenges of depending on external apps for payroll.
Post journal entries with Zoho Books integration
Like all other transactions, payroll transactions need to be accounted in the company’s chart of accounts (COA). With the Zoho Books integration, we’ve simplified this task. Once a pay run is approved in Zoho Payroll, journal entries are made in the respective bank, asset, and payable accounts in your COA in Zoho Books. After payments are completed, journal entries are made in the respective salary expense accounts in Zoho Books.
Entering and reconciling payroll transactions is now a whole lot faster and easier with the Zoho Books integration.
Make direct payments from your corporate bank account
In the absence of direct deposit capabilities, payroll admins have to prepare bank advice, upload it to a banking portal, and transfer funds manually. To make this process easier, Zoho Payroll integrates with ICICI Bank to directly deposit salaries from your corporate ICICI Bank account to your employees’ accounts.
With one simple click in Zoho Payroll, salaries are disbursed instantly without even leaving the Payroll app.
Fetch employee details and LOP from Zoho People
Payroll requires a lot of employee information during each stage of salary processing throughout the year. This is where the Zoho People integration helps. Users and employee profiles are automatically synced from your Zoho People account, including employee personal details, payment information, and work locations. During each pay run, the loss of pay (LOP) details of each employee can be fetched from Zoho People to calculate the payable salaries.
Details entered in Zoho People automatically flow into Payroll contextually, allowing you to maintain one central employee database instead of several.
Experience stress-free payroll with Zoho Finance Plus
Take a 14-day free trial of Zoho Finance Plus, which now comes with Zoho Payroll. If you are already a Zoho Finance Plus customer, visit the Zoho Finance Plus admin panel and click the Payroll icon to set up your payroll organization and integrate it with other finance apps. You can provision the premium plan of Zoho Payroll for your organization at no additional cost. If you need help exploring Zoho Payroll, get in touch with our support team for a comprehensive demo.
Count on us to handle your finances, while you focus on growing your business.