About Seldesk Cloud Final Settlement Management
Seldesk Final Settlement Management System is designed to assist employees to benefit from an error-free disengagement process. It clears all perceptions of employee harassment and allows a smooth transition.
What It Does for You - Functions of Final Settlement Management
Seldesk intelligently calculates the full and final payables of an employee and gives the exact amount with the receivables. Key payroll information, such as bonus, unpaid salary, unused leaves, tips, medical expenses, etc., will be available to you in seconds, providing you an overview of the complete and final settlement process. It calculates and facilitates you with the appropriate full and final settlement amount to disburse in a few clicks.
Features of Final Settlement Management Software
- Employee Initiation: Enables users to initiate resignation through the Employee Self Service Portal (ESS). Based on the need of your organization, you can have forms like exit form, resignation form, etc. used by the HR team and also by the employees.
- Employee Exit Clearance: Create multiple departments to group employees’ exit clearance in the system. Also, you can create multiple clearance items and no dues checklist across different roles, departments and SBUs etc.
- Net Payables: As soon as you start or terminate the full and final settlement process for any employee who leaves your company, Seldesk HRMS will generate significant payroll figures for the net accounts payable and receivable balance. These calculations can be done automatically for you, simply by clicking a button.
- Final Payables: Seldesk HRMS will automatically calculate the final amount payable for each employee subject to an “exit” process. Important payroll information, such as payables, annual bonus, LTS, medical expenses, tips, leave, etc., will be communicated to you in no time.
- Final Recoverable: Often, when employees leave your company, significant recoveries must be made before they leave. Seldesk HRMS will help you determine the final recoverable amounts in relation to an asset, petty cash, loan advance, etc. that may be pending with respect to employees.
- Summary Statements: When you are searching for a snapshot of past full and complete settlement activities, Seldesk HRMS will provide you with an informative “Statement Summary”. Not only that, you can choose start and end date filters for the given period for which you want the summary statement to be generated.