Odoo Payroll Module
Odoo, the most dependable open-source ERP management software, offers a wide range of features and functionalities. Odoo allows users to manage practically all aspects of human resource administration, including employee management, contracts, attendance, timesheets, time off, and payroll. Odoo Payroll module makes it easy to organize all payroll activities in a company. Payrolls are the entire amount of wages that a firm pays to its employees. Total work time, base pay, overtime, and bonus awards are all aspects that go into determining the salary.
The company enters into a contract with an employee at the time of recruitment in which we describe the wage package supplied by the company for the specific job position. Through the Odoo Payroll Module, we can specify salary rules and define the salary structure of an employee in any job role. It is a simple and effective platform for managing all payroll procedures for employees within a company.
You'll find the Odoo Payroll module in the Apps module, and you'll want to make sure you install it. When you access this section, you will see a glimpse of all of your company's employees' data. We have a lot of options in the configuration menu of this module to specify the salary rule and structure.
We can design a Salary Structure and Structure Type, Salary Rules, Salary Rule Parameters, Other Input Types, Salary Package Configurator such as Advantages, Personal Information, and Resume, as shown in the image. In the following section, we'll go over each of these points in further depth.
In this section, you can design a new wage structure type. It is critical to include the compensation structure type in the contract when forming a new contract with a newly hired employee. Employees, laborers, and trainees can each have their own salary structure, with the wage type set to monthly or hourly.
With Default Scheduled Pay, Default Working Hours, Wage Type, and Regular Pay Structure, the list shows many sorts of salary systems. To make a new salary structure type, click the ‘Create' button.
Add Structure Type and Country to the fields provided. You have the option of selecting Monthly Fixed Wage or Hourly Wage under Wage Type. Payments can be made on a monthly, quarterly, annual, weekly, bi-weekly, or bi-monthly basis. In the relevant fields, mention the working hours, pay structure, and work entry type. After you've filled in all of the parameters, save the new pay structure type, and you may use it to create contracts with the right wage structure.
This field will guide you through the process of creating a new compensation structure in Odoo. Wage structure is critical for calculating each employee's salary based on their job title and providing payslips for each payroll.
The table below shows all of Odoo's salary structures. To make a new salary structure, click the ‘Create' button.
Choose a kind from the drop-down menu and name the salary structure. To the new compensation structure, add the country name, report method, scheduled pay, and salary journal. You can add salary rules to the Salary Rules section by using the Configuration menu of the module. You can also include information about the Unpaid Work Entry Type in the new compensation structure and save the data once you've finished filling out all of the fields.
Setting conditions in the form of salary guidelines is critical for determining an employee's salary. The net amount will fluctuate depending on the set of rules. We can find the option ‘Salary Rule' in the Configuration menu of the Odoo payroll module, which displays all potential salary rules set in this module.
To make a new wage rule, click the ‘Create' option as usual. When generating a new employee contract, these are utilized to specify the wage structure.
Give the payment a name, choose a pay category (basic, allowance, or bonus), a code, a sequence, and a salary structure. Add general information about the salary regulation to the General tab.
You can choose from Always True, Range, and Python Expression as your conditions. According to the Condition Based on what you've selected, further fields will show. Add the amount type, quantity, and fixed amount to the Computation field. Select Partner in the salary rule under Company Contribution. If any description is required, add a comment to the ‘Description' tab. Click on the 'Accounting' tab. Set up the Debit Account, Credit Account, and Analytic Account in order to create new salary rules. Save the new wage rule and use it to create a suitable salary structure.
The ‘Create' option in the Salary Rule Parameters section of the Configuration menu allows you to quickly create new parameters. The salary rules are determined by the salary rule parameter that we specify in this field.
In the Configuration menu, under ‘Other Input Types,' you can add additional fields that will appear when generating a payslip. Give the input a brief description, pick the Availability in Structure, and give it a unique Code.
In the Configuration menu of Odoo, you may set up additional compensation benefits. This will be added to your pay package based on the wage structure you choose.
You can enter information in this field concerning the advantage's Name, Cost Field, Advantage Type, Salary Structure Type, Icon, Advantage Unit of Measure, Display Type, and Registered Documents. You can add a description to this area, and you can hide it by clicking on the ‘Hide Description' button.
The Personal Info field under the Configuration menu will help you to configure personal information about the employee into the salary slip. You can add a Name, select Applies On which person, Related Field, Info Type, Salary Structure Type, Placeholder, Helper, Position, and Display type. Save the data if everything is add
You can add resume types to your salary structure in this area. Name, Category, Salary Structure Type, Advantage Unit of Measure, Value Type, and Fixed Value should all be filled out.
These are the configurations in the Odoo Payroll module that enable a firm define each employee's salary package. The extensive capabilities of Odoo have made managing payroll operations simple and painless, and you can easily organize all of your payslips in this module.