Select Different Bank Accounts for Recording Payroll Payments (India, US, and UAE)

• Budget Control: It allows for better tracking and management of budgets for different departments or projects. Each account can be monitored to ensure spending is within allocated budgets.
• Escrow Accounts: Sometimes used to manage funds for specific purposes, such as bonuses or special project payments, ensuring that these funds are kept separate until they are disbursed.
  
  If your organisation uses different bank accounts to process payments for similar reasons as mentioned above, you can use this feature.

Country	Feature Availability
India & US	Available only if you've integrated with Zoho Books
UAE	Can create multiple bank accounts in Settings > Bank Account and record payments without Zoho Books             integration

Select Different Bank Accounts While Recording Payment

Calculate Earnings with Gross-Based Custom Formulas (India, and UAE)

Our new feature allows you to calculate employee earnings based on their gross pay—comprising fixed earnings minus any deductions per month.

Previously, gross calculations had to be applied manually to select employees. Now, this update enables you to include the gross component in custom formulas for the earnings and associate them with all employees or specific groups, ensuring uniform calculations throughout your organisation.

Gross = Earnings + Flexible Benefit Plan + Reimbursement

The gross pay amount specified for the respective employee will be used for calculation of the component mentioned in the custom formula.

Off Cycle Payroll (US)

Off-cycle payroll allows you to issue pay stubs to employees outside of the regular pay schedule. This feature is essential for handling payments along such as ad-hoc incentives, commissions, or overtime pay that aren’t included in the standard payroll cycle. You can also choose to process the off-cycle payrolls based on the pay schedule of your choice along with benefits and deductions associated to employees.

Sample Scenario: Imagine you want to reward a department for exceptional performance with an ad-hoc incentives. With the Off Cycle Payroll feature, you can quickly process this payment outside of the regular pay schedule.

How to Create Off Cycle Payroll:

• Go to Pay Runs.
• Click Create Pay Run and select Select Off Cycle Pay Run.
  
  

Once you create the off-cycle payroll, you can add eligible employees to the off-cycle pay run and specify their earnings.

Off Cycle Payroll for US edition