Meaning of Payroll and Attendance Cycle
- Payroll cycle: Refers to the duration between two payroll activities. It is the period for which employees’ work is considered for compensation. In most organisations, payroll cycles follow the calendar month, that is, from the 1st of the month to the end of the month.
- Attendance cycle: This is the duration for which the organisation records the employees’ attendance data for the payroll month. The payroll month is also the payroll cycle. Using an attendance cycle, organisations calculate the payroll for that employee in a specific month.
How it Works
- Choose to make manual or automatic payments.
- Set up/modify a payroll and attendance cycle.
- Select the effective date from when the modified cycle/s are effective for the organisation.
- Choose the payroll date for payroll execution.
- Streamline automatic payroll payments using autopilot.
Video Tutorial
Watch the video below to know how to create custom payroll and attendance cycles on the Payroll Dashboard or read along.Set Up Payroll/Attendance Cycle
To set up or modify the payroll/attendance cycle:- Log in to the Payroll Dashboard.
- Navigate to ADMIN OPTIONS → Settings in the left menu.
- Go to Payroll Setup → EDIT. This opens the Payroll Setup page.
1. Automate Payroll Payments
To allow RazorpayX Payroll to execute your monthly payroll:- Toggle the setting against Let RazorpayX Payroll do the payments.
- Navigate to Payroll Date section and select the payroll execution date from the drop-down menu.
2. Modify Payroll/Attendance Cycle
To set up or modify the payroll/attendance cycle:- Go to the Payroll Setup page.
- Review the current cycle per the calendar month in the Payroll Cycle section. To change the cycle, click on + Create custom cycle tab and select the start date. We automatically add the end date with a 30-day gap.
- Toggle against the Attendance Cycle to follow the selected payroll cycle duration. Or you can set up a custom cycle.
3. Set Up Payroll Autopilot
You can allow Payroll to automatically make payments on the selected payroll date. On the Payroll Setup page:- Toggle the setting against Payroll Autopilot. This means that the Payroll automatically makes payroll payouts on the Payroll Date. When disabled, you must manually request execution.
- Click Save Changes.
Cancel Upcoming Cycle
When the upcoming effective cycle is no longer relevant for the organisation, you can cancel the upcoming cycle.- Go to the Payroll Setup page.
- Click Cancel upcoming cycle at the top of the page.