Is your business looking to manage compensation plans, employee benefits, commissions, calculate payroll frequencies, create as well as manage tax authorities, and other features with HR module and payment? For any company, regardless of its size, payroll processing is a crucial function.
Note that payroll processing is a way through, which the staff’s pay is calculated just by factoring in particular components. Such components involve working hours, deductions, benefits, tax amount & employment status.
As a business, you should know, such a process needs massive time & effort, which certainly is not a suitable factor for any organization.
DynaPay HR & Payroll for Dynamics 365 Business Central is a convenient way of payroll processing
To make human resources & payroll processing simpler, easier & convenient, Dynamics Business Solution (DBS) has come up with a promising tool. DynaPay HR & Payroll for Dynamics 365 Business Central has been started by DBS to ease off payroll processing burden from staff & assists them to save crucial time & costs.
DynaPay HR & Payroll caters businesses with the chance to attain maximum flexibility & extensibility for all their operations relating to human resources and payroll processing.
Read Also | Top 5 Reasons to opt for Dynamics Payroll
Utilizing DynaPay HR & Payroll for Dynamics 365 Business Central processing
DynaPay is an ideal solution for companies who look for saving their time & make their payroll processing less stressful in nature. Here is how one can utilize this tool for error-free HR & Payroll processing.
Measure No. 1: Generation & releasing earnings statement
The initial step towards DynaPay HR & Payroll Software is to generate an earnings statement. There are numerous ways to generate an earnings statement. Organizations can either utilize the DynaPay payroll module form titled ‘Monthly Payroll Sheet’ or make separately each employee’s monthly statement (Pay Slip).
Once the Pay Slip is generated, you can release statements separately through individual emails. After this, an earnings statement or pay gets generated in the DynaPay and can be posted to the financial module in one single click.
Measure No. 2: Review pay statements
The next measure is to evaluate the payroll reports. For opening the payroll statements, one simply requires navigating the payroll options, which are followed by pay statements & then select calculated pay statements.
In this section, you will be able to view all required employee details like working hours, benefits, earning statement details, tax & other crucial particulars.
Measure No. 3: Release the monthly payroll
After completely reviewing the pay statements, next, you should release such pay statements. This can be done in 2 ways. One can either calculate separately the pay statements for every employee or in groups, where they can choose multiple pay statements. It is followed by a posting phase wherein users require selecting the posting option for the payment of the salaries. Each time when this option gets selected a payment journal is created.
Measure No. 4: Payment journal creation
This measure is not done by the user but by Dynamics 365 Business Central itself. For this, users should navigate to the Payment Journal & select the Suggested Employee Payments option, which gets followed by a selection of an option called ‘payment journal’. This enables the user to process any journal that they want.
Measure No. 5: Posting pay statements
Once the payment journal is processed and the payment is done, you can now simply postpay statements. For posting the pay statements, users just require to go back to the Payment option and select postpay statements & this will be performed.
Measure 6: Getting data insights
The last step is to view your data in a visual and easy way to understand, using DynaPay Built-In dashboards the executives can view all the details related to the HR & Payroll performance in one single click through any device.
DynaPay HR & Payroll consists of 6 easy steps. It is not only fast but even assists companies to cut down on their costs & enhance their profits at the same time.
With DynaPay HR & Payroll for Dynamics 365 Business Central, your company can attain the following benefits:
- Enable your end audience to efficiently work in a single environment and even avail service from a single provider.
- Provide just one solution that enables your company to avoid the cost, hassle & technical issues arising from siloed systems.
- Can simply be extended to support any type of payroll regulations and rules utilizing their advanced formula builder.
- As per cost, it is reasonable with a month basis subscription model, which covers unrestricted number of employees.
- Contains all needed employee contact details so that the company can easily get in connection with them in case of any work or emergency.
- Seamlessly integrated with Dynamics 365 BC financials.
- Assists your company makes most of Microsoft Dynamics 365 Business Central potentials like Power BI, work flows, email notifications and many more.
Dynamics Business Solutions (DBS) is a certified Microsoft Dynamics partner in UAE, we take pride in our ability to develop and deploy the right business solution that matches global client’s requirements.