Ascent Payroll

Ascent Payroll is a comprehensive software solution designed to streamline and automate payroll processing for businesses of all sizes. According to the vendor, this solution caters to the needs of various industries, including Human Resources, Finance and Accounting, Payroll Administration, Small Business Owners, Professional Services, and Information Technology (IT).

Key Features

Payroll including Expat Reimbursement Management: Ascent Payroll offers a payroll solution that includes the management of expat reimbursements. According to the vendor, it ensures accurate calculation and disbursement of salaries while handling complex tax calculations for expatriate employees.

Six-Dimensional Salary JV: With Ascent Payroll, users can create salary journal vouchers (JVs) that capture project-wise costing. It provides two user-defined dimensions and four predefined dimensions (Account Code, Employee Number, Cost Centre & Business Area) for detailed analysis and reporting.

Bulk Full & Final Settlement: According to the vendor, this feature allows for seamless integration with HR, Leave Management, Attendance Management, and other modules. It automates the computation of full-and-final payments and provides employees with self-service access to settlement details. It also offers a bulk option for handling unusual cases efficiently.

Custom Report Generator: Ascent Payroll provides a robust report generator with over 50 standard reports, as claimed by the vendor. It also allows for the creation of custom reports using more than 200 configurable parameters, providing flexibility in data analysis and reporting.

Loan and Advances: This feature enables tracking of loan and advances details, ensuring clarity in transaction information from disbursement to EMIs. According to the vendor, it also calculates interest on loans based on EMI or equated principal and provides variance reports and loan perquisite valuation reports.

Easy To Use, Hassle-Free System for Finance Department: Ascent Payroll simplifies payroll processing for the finance department, reducing time and effort, as claimed by the vendor. It integrates seamlessly with existing ERP and financial accounting systems, ensuring accurate and efficient payroll processing with just a click of a button.

Total Accountability Ensured for HR Department: According to the vendor, this feature provides highly configurable and automated events, ensuring accuracy in people and compensation data. It allows for user-defined formulas for earning/deduction calculations and smart automation of salary revisions and investment declarations. It also offers key event automation for bulk full & final settlement with provisional Form 16.

Always Synchronized with Updated Statutory Compliances: Ascent Payroll ensures seamless compliance reporting, providing accurate and up-to-date data for statutory compliances, as claimed by the vendor. It also facilitates interaction with authorities for compliance reporting, reducing the risk of non-compliance.

Online Reimbursements with Complete Reliability: According to the vendor, Ascent Payroll minimizes human intervention in reimbursement processes. It processes claims and loans based on predefined rules and parameters, handling exceptions effectively. This feature ensures reliable and efficient reimbursement management.