Importance of Reimbursement Module in Payroll Software

Modern companies offer a variety ofsubmissions and also record dependents bills wise.
reimbursements to their staff. TheseBroadly the activities that can be automated with
reimbursements have become an importantthe help of Reimbursements Module in the Payroll
component of the benefit package, and nowsoftware are
encompass much more than the traditional- Reimbursements accounting can be made in
expense account. With these changes in thePayroll
reimbursement and the increasingly dynamic- Several reimbursement codes be defined with
nature of workforce, the reimbursement processpre-set maximum values
has become a much more complex and time- Monthly / Yearly reimbursement transactions
consuming function of Human Resourcecan be entered
department. Traditionally this has been done via- Component wise / employee wise
email or excels by the department. However asreimbursement codes can be generated
companies diversify, go multi-location and employs- Monthly reimbursement processing can be
thousands of employees manual disbursement ofgenerated
this information becomes tedious and is error- Get complete reimbursement information like
proneopening balance, entitlement, closing balance,
The reimbursement module of Payroll softwareprevious transactions, etc. during claims process
has the ability to process online employee- Year end processing with balance transfer to
expense forms. These expenses can be routedother components.
to appropriate personnel, approved online, and- Show reimbursement components in regular
linked to accounts payable or paid through thepayslips or generate separate reimbursement
payroll system. Travel management capabilitiespayslips.
include premium and expense tracking, travelThe Sage Pocket Reimbursement Module allows
advances, cash receipts, and multi-currencytransparency into the reimbursement processing,
functionality. This streamlined expenseeliminating human error and allows management
reimbursement process reduces the cost ofto easily understand and control reimbursement
managing employee expenses, while at the samecosts. Some of the benefits are
time provides faster reimbursements to- Allows you to set CTC related reimbursements,
employees.define dynamic reimbursement components like
The Reimbursement module help employees tofuel, transport, medical etc. and define limits for
manage and submit their reimbursements andeach component.
claims online and also provide managers with an- It gives you the option to link the
online option for approval. Employees can viewreimbursement with the payroll module or else to
details of his claims and check the status realpay it outside of the salary.
time. Online Modules of a payroll software- If the monthly reimbursement entitlement is not
extends relevant payroll related information toavailed of entirely then the residual amount
employees, managers and teams which enablesaccumulates till the end of the financial year when
them to perform important tasks and activitiesit is taxed and paid to the employee.
which ensures that payroll processing runs- The reimbursement module is also linked with
smoothly at the same time making sure that costincrement in the payroll module, as well as the full
consuming activities are curtailed leading to aand final settlement.
more efficient HR/Finance department.You can check for more information on
A complete Reimbursement module to help youReimbursement module of Pocket Payroll
check reimbursement-head- wise balance due toSoftware in India.
each employee, given reimbursements, track bills