Settling payments or recovering money,
our settlement features keep it super smooth.
As soon as you begin or end the Full & Final Settlement process for any employee leaving your organization, sumHR will generate important payroll figures for Net Payable & Receivables. These calculations can be done automatically for you, just on the click of a button.
sumHR will automatically calculate the Final Payables for every employee going through an "Exit" process. Important payroll information like Payables against Salary, Yearly Bonus, LTA, Medical, Gratuity, Leave, etc., will be available to you in a jiffy.
Often when you have employees leaving your organization, there are important recoveries to be made before their departure. sumHR will help you figure out the final Recoverables against any Asset, Petty Cash, Loan Advances, etc., that may be pending with reference to the employees.
When looking for a snapshot of all the Full & Final Settlement activities carried out in the past, sumHR will provide you with an information rich "Summary Statement". Not only that, you can choose which given period you'd like the summary statement to be for.