Features
The system is easily installable, configurable, and usable, thus making the implementation unbelievably period short.
The system supports unlimited multi companies with user definable organization charts for Branches, Departments, Sections, Stations, Cost Center, Job Groups, and Job Titles, and Company Locations.
User configuration of jobs, that will reflect an employee’s career development within the
Company by keeping records of the jobs held the profile and locations site of each job.
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Multiple Location Payroll Processing
In case you have offices or factories in multiple locations and wish to process salary in each location and finally reconcile all data in MemorySoft can provide you with a complete solution to do that. MemorySoft is a Multi Company, Multi-Location HR software. You can create multiple offices.
User definable processing and payment periods, Weekly, Biweekly, Semimonthly, Monthly, Quarterly, Semiannually, yearly and Daily or any other user specified period.
It can setup multiple payment periods for different payrolls. E.g. the main administration payroll may be paid monthly while the casuals are paid on weekly, fortnightly & semi-monthly.
Allows users to enter payroll amounts reconcile payroll data and get paid in any combination of different currencies available. Exchange rates for over 160 currencies can be updated every day where necessary.
The user may also choose to generate reports in various currencies. All the foreign currency transactions are eventually converted into your local currency in to facilitate tax computations.
Multi database system, MDBS, arise when integrated access to two or more possibly heterogeneous existing databases is required for your purposes. Memorysoft has an inbuilt architecture and mechanism to address multi databases requirements.
The software can also execute transactions that span multiple local DBMS’s without jeopardizing database consistency.
The system supports multiple working shifts and break windows and harmonizes the timing seamlessly. The shifts supported include, multiple day shifts (e.g. morning, evening, night) weekly, fortnightly, monthly and even yearly if need be.
This facility is useful to companies with long working hours like telephone companies, hospitals, manufacturing, concerns departmental stores e.t.c
The system is able to report on short falls in the various shifts by comparing the current attendance vis-à-vis pre determined attendance setups.
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Batch processing and reporting
Batch processing is the execution of a series of programs called jobs on a computer without manual intervention.
Jobs are setup so that they can be run to completion during non-working hours or whenever the computer is idle. This operating environment is termed as “batch processing” because the input data are collected into batches or sets of records and each batch is processed as a unit.
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Terminal benefits Computations
The system will tax Terminal benefits using any newly introduced rules or chosen guidelines.
The terminal benefits may include gratuity from employer, gratuity from a pension fund, bonuses, payments in lieu of leave, comprehensive for restrictive covenants, severance payment due, service pay for each year worked etc.
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Automated Salary Increments
The system supports Periodic or Annual salary increments which may be defined as per the various payroll categories /classifications.
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Arrears, Adjustments and Bonus
All Bonus /Arrears will be distributed to their respective months of payment for the Tax computation purposes.
Support is provided for court orders, Garnishments, child and spouse support, re-imbursements tax levies and other Court imposed assessments like alimony.
The system converts overdrawn pay to the next month as a deduction. In addition, current, month-to-date, quarter-to- date and year-to-date amounts and days/hours are automatically maintained.
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Earnings, Deductions and Benefits
The System supports unlimited manual input and rated automatic earnings, deductions, loans and benefits.
The system supports unlimited formulas i.e. (Fully Formula driven).
Bank Processing & Electronic Transfers
The system supports user definable banking institutions.
The bank codes in use are compliant to the Countries’ Bankers Association.
System supports recording of the Company and Employee complete bank details.
It provides unlimited direct deposit designations, allowing employees to designate multiple deposits to multiple accounts and multiple banks. It can therefore split an employee’s pay over several different payment methods.
System supports the remittance of salaries and payments electronically (EDI, EFT/SFI) to paying banks. Supports user definable currency denomination breakdown and analysis for employees paid by cash using a facility called coinage analysis.
System generates cheques for all employees paid by cheques.
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Loans and Savings Processing
Supports unlimited number of Company, Co-operatives, Mortgages, Banks, and Credit Society loans whose decreasing balances and Interest are computed and managed to completion. The interest charged on a loan is user configurable and may be based on reducing balance or compound interest. Supports unlimited number of savings and contributory schemes, where incremental balances are maintained and interests accrued System supports the starting and stopping of loans processing at will. The user may put any loan on hold. Further provision to reschedule loan by period or amount, early completion and additional recovery make our Loan module a dynamic one to handle any kind of situation.
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Vendor & Agencies processing & reporting
System supports multiple third party organizations that provide for staff welfare. This includes Savings schemes, Pension schemes and staff Welfare Organizations, Banking Institutions, Co-operative societies, Donor Organizations, Credit Societies, Mortgage Banks and Insurance Companies. Different Vendor based formula calculations can be configured as per Vendor unique needs.
Example two different Cooperative Vendors can charge different interest rates for the same type of loan. This facility is also used to generate reports for the vendors.
The system supports multi-currency pay computation, with conversion between currencies occurring automatically as per user definition: – Basic salary conversion from Sterling Pounds to US $ or others.
The System supports batch transactions posting, importation and processing. This facilitates easy Batch audit, Batch importation, Batch processing and reporting of a batch of transactions.
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Automated Salary Processing
MemorySoft Payroll has an advanced Salary Processing module where you just need to select the criteria whose salary you need to process and after pressing “Process” within a few seconds all employees therein are processed. It can also control processing order of payroll elements. It supports multiple processing within a period thus allowing changes to be made at any time. Enables simultaneous processing of selected multiple group of employees. It is able to process a payslip online.
Memorysoft Payroll has provision to process salary of Hourly Wages Employees by using hours worked.
The pay slip is divided into distinct groups that display data of different caliber, on our sample we have the Header, Earning, Deductions, Taxation, Net pay, Information and Payment details sections which group related items. The report’s ending has a provision for adding messages to employees either for global or for individual employee attention. It has a ability to print pay slip on special and confidential envelops, pdf documents, e.t.c. Special messages can be communicated via the pay slip. E.g. “remember to remit your NHIF number to the payroll officer”. Pay slip can be printed vertically or horizontally. The user determines the number of pay slips to be printed per page. It enables selective printing of pay slip for individuals or selected classification. Pay slips can be printed by pay point for ease of distribution.
The system supports employee cost centers, e.g. Accounts, Sales, Administration, Production, Marketing, etc. It can automatically distribute employee’s pay into different cost center codes. This could automatically be fed into an accounting general ledger.
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Cost Accounting & labour Distribution
The system supports employee earnings cost distribution to unlimited number of cost centers by percentage and/or constant amounts. The distributed amounts may be displayed in the pay slip and other costing reports.
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Time and Attendance Clocking Interface
The system supports international standards clocking equipment data interface.
The Reconciliation reports will show the variances existing on selected transactions between the current and previous months.
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Tax compliant (27 countries)
The most Tax compliant Software products anywhere in the region. Capable of computing multiple tax formulas and brackets for various countries. Reduces the risk of fines due to non-compliance. It can support user definable flexible tax groups.
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Accounting package Compatibility and Payroll Journal
The system generates a user definable Payroll Journal that may be interfaced to all standard General Ledger accounting packages. SUN SYSTEMS, CAMELEON, GREAT PLANES, SOLOMON, PASTEL, TALLY, ACCPAC, SAP, BPCS, BAAN, SERA, SCALA, CS12, SAGE, MFG/PRO, SYSTEMATICS ACCORD, HOGIA, TETRA. etc.
Ability to support automatic periodic increments by percentage or range.
MemorySoft Payroll provides facility to Transfer an Employee to any other branch, division, departments or section etc and it can track movement of an Employee across this categorizations.
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Earning and deductions exemptions
The payroll allows the users to exempt employees from payroll elements based on various considerations. An employee who pays NSSF from another source or senior staffs who are exempted from overtime earnings, exemption of withholding tax, some wages are exempt from payroll tax as provided by the taxation act.
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Automatic Staff Number Creation
Auto-increment allows a unique number to be generated when a new record is inserted into a table. This function would insert a new record into the database bearing the new auto-incremented number thus simplifying the work of the user tremendously.
This payroll allows the user to return to earlier historical payroll periods for reports of any kind by viewing and/or printing. The reports can include payslips, payroll summaries, bank remittances, tax payment reports, NSSF/NHIF/PAYE reports etc. Historical payroll periods can also be re-processed under special circumstances if need be.
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Calculation of loans and amortization
To amortize a loan usually means establishing a series of equal monthly payments that will provide the lender with 1) interest based on each month’s unpaid principal balance, and 2) principal repayments that will cause the unpaid principal balance to be zero at the end of the loan. While the amount of each monthly payment is identical, the interest component of each payment will be decreasing and the principal component of each payment will be increasing during the life of the loan.
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Data importation/Exportation
The import and export of data is the automated or semi-automated input and output of data sets between different software applications. It involves “translating” from the format used in one application into that used by another, where such translation is accomplished automatically via machine processes, such as transcoding, data transformation, and others. True exports of data often contain data in raw formats otherwise unreadable to end-users without the user interface that was designed to render it.
The system generates unlimited payroll reports. It is compatible with crystal reporting. It also have an integrated builder
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Calculates normal time, overtime and lost time
The system calculates the wages of normal time, overtime and lost time with great accuracy.
The system computes the salary and wages for casual workers working based on unlimited shift patterns.
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Automatic Periodic Deductions Controls
The system is able to control by not exceeding an amount preset for the total deductions or an individual deduction. An example is the limit that prohibits deductions that exceed two thirds of one’s salary.
The system is also able to discontinue a deduction when a specify limit is reached.