Swingvy has 2 payroll cycles, mid-month and month-end.
1. Activate the mid-month pay
Enable this function should you wish to pay your employee twice a month.
2. Choose mid-month pay date
The mid-month pay date is the date you would like to pay your employees, leave the default option as 15th of the month or choose another if it varies.
3. Mid-month rate type
There are 2 options to choose from, by a fixed amount or by percentage.
4. Mid-month rate
- If the percentage was selected, the employee mid-month advance will the basic salary multiplied by the percentage.
- If the amount was selected, the employee mid-month advance will be fixed at the amount defined in the settings.
With this option checked, statutory for mid-month advance will be calculated during the mid-month payout. The mid-month statutory is only for reference purposes, the final statutory amount will be computed during the month-end payroll.
You may assign the employee with mid-month advance from the selection here or you may also include them in the employee profile. Go to employee profile, bank and statutory and change the value in Pay Mid-Month to YES.
Process mid-month payroll
- Mid-month payroll will be available in the pay run upon the activation of this function.
- During the payroll processing, select the payroll period followed by the payroll type to mid-month advance.
- All the active employees with the mid-month = Yes will be populated in the list.
- The mid-month salary amount will generate based on the setting value in the payroll setting.
- If there is no further adjustment, proceed with the mid-month payroll to Step 3 for reports, bank payment and payslip.
Process month-end payroll with mid-month advance
- Once the mid-month payroll has been completed, it will be consolidated in month-end payroll automatically
- The mid-month advance will be deducted from the month-end payroll, the amount deducted is the amount paid during the mid-month advance
- The final amount of statutory will be computed in the month-end payroll, base on the final income given to the employee during the month-end payroll