Microsoft Dynamics 365 Payroll Module | DHRP Consulting

Whenever you buy Dynamics 365 or have previously bought Dynamics AX 2012, you must have got the payroll module in it. There is no doubt about the help this module can offer HR. 

With the payroll and HR module, you can manage tax authorities applied to employees or teams, prepare tax reports for submission, and manage compensation plans, commissions, employee benefits, and garnishments.

What can a payroll module do for any business?

No matter the firm’s size, processing payroll is one of the most crucial operations. The process of processing payroll involves calculating the employees’ salaries while considering several factors. These elements consist of the number of hours worked, benefits, deductions, tax rate, and employment status. This procedure takes a great deal of time and work, which is not good for any firm. These elements consist of the number of hours worked, benefits, deductions, tax rate, and employment status.

Features that Dynamics 365 Payroll offers for smooth operations

You can manage various things; however, the most common ones are the following. 

• Payroll Reporting

You may access real-time business insight and data analytics for human resources from one centralized location. Your staff is able to make better-educated decisions regarding your company thanks to improved insight into your business operations and data.

• Single Touch Payroll (STP)

This feature provides ATO with tax and super information through Single Touch Payroll. Employers can use this to automatically communicate tax and superannuation information to their employees while processing payroll.

• Manage resignation and exit interviews

Gives both the employer and the employee access to information so they may manage resignations and exit interviews from a single location. This feature ensures that end-of-service and leave encashment are handled through payroll and finance integration.

• Easy to manage Australian & NZ Taxation

A fully integrated taxation system that complies with their respective national regulations is Dynamics 365 Payroll, which aids in contributions and deductions that are automatically made, as well as adjustments for rebates and other income.

• Time & Attendance

Online time and attendance management systems with various entry options help eliminate manual data entry errors with an automated and integrated solution. Payment operations can be scheduled accurately and efficiently with Dynamics HR & Payroll.

• Wages / Salary & Benefits Assignment

Make your payment process accurate and smooth. Automatically contribute to reducing the risks of underpayment of taxes and benefits by developing a more efficient and precise service.

• Time Sheet & Rostering

Your employees can view their upcoming shifts using the Rostering app and the cloud-based rostering platform. Additionally, you can select a particular capacity level over the course of hours, days, and weeks. You take care to avoid unintentionally overbooking people or giving them unnecessary overtime.

• Leave Management

Leave Management is a set of processes and steps that assist you in regulating every part of your employees’ leave within your organization. This includes applications, approval, and tracking of accrued leave.

• Payroll Calculations & Processing

Your payment operations will be handled by an automated system that will automate multiple earnings and deductions based on various periodic attendance schedules. Dynamics HR & Payroll utilizes an integrated payroll system for processing and calculations instead of manual payment processes for taxes and superannuation.

• Payroll Tax

Payroll also helps you with taxes. This module can avoid errors or problems with federal, state, and local payroll taxes, Social Security, and other payroll taxes.

• Tax Regions, Pay Cycle & periods, Calendars

Using the Payroll solution, you may automatically assign taxes based on the designated region. While you have every record on the calendar feature, manage the pay cycle and periods.

Bottom line

No matter the firm’s size, processing payroll is one of the most crucial operations. The process of processing payroll involves calculating the employees’ salaries while considering several factors. These elements consist of the number of hours worked, benefits, deductions, tax rate, and employment status. This procedure takes a great deal of time and work, which is not good for any firm.

While running a full-fledged business, the most significant part of it is to be accurate with your payrolls. So, if you are struggling with the existing payroll system, you must get Dynamics 365 right away. A simple module of payroll is designed for the sole purpose of making your finances easy. Simply choose your plan and get it for your benefit.