Pay Runs in Zoho Payroll
A pay run is the process of compensating your employees for their work, involving the calculation of total net pay, withholding taxes and deductions, filing payroll taxes, and making tax payments. Managing your payroll efficiently is crucial, as it is one of your top expenses. To streamline this process, Zoho Payroll offers the Pay Runs module.
The Pay Runs Module
The Pay Runs module in Zoho Payroll allows you to handle various payroll types efficiently, ensuring all aspects of employee compensation are managed accurately and on time. The types of payrolls you can process include:
- ** Regular Payroll **
- The standard and recurring process of paying employees based on your organization’s pay schedule.
- ** Bonus Payroll **
- Allows you to distribute additional compensation outside the regular payroll cycle, such as annual or performance-based bonuses.
- ** Off-Cycle Payroll **
- Provides a way to issue payments outside the regular pay schedule for situations such as corrections or special one-time earnings that need immediate attention.
- ** Termination Payroll **
- Helps process the final payment for employees who are leaving the organization, including severance pay or unused vacation pay.
Payroll History
The Pay Runs module includes the Payroll History tab, which provides a comprehensive list of all the payrolls you have processed in the past. This feature allows you to review and manage your payroll records efficiently, ensuring compliance and quick access to historical data.
Prerequisites to Run a Payroll
Before you can start running payrolls for your organization, make sure you have completed the following:
- Configure your pay schedule
- Configure taxes
- Configure direct deposit
- Add employees
- Configure Prior Payroll, if enabled