Bonus

A bonus is an extra reward, often monetary, given on top of regular compensation for an exceptional performance. It can be in the form of cash, stock options, or other perks depending on the company’s policies and practices.

 

Adding bonus for the employees

Navigate to the Left Menu > HR > Team.

Go to the Employee Name > Action > Edit Official Profile

All the Employee details – mandatory fields need to be filled, while editing the details will be visible in the form. Do not edit any details unless it’s required to be edited.

Enable Bonus of the Employee by selecting Yes

Amount: Is the Bonus amount fixed that is payable to this employee

% of Gross: Enter the percentage of the Bonus amount to be calculated on the Gross Salary

% of Basic: Enter the percentage of the Bonus amount to be calculated on the Basic Salary

Bonus Payable: In what duration the Bonus has to be calculated and paid

Monthly : Every month the Bonus voucher to be generated

Defined Month: Select the month in which the Bonus amount is calculated and the Bonus voucher is generated

After entering all the bonus details, click Save and Exit.

Note: Bonus entered in the Employee Official Profile will be visible in Main module Human Resources > Reports > Approval Bonus

Bonus will be automatically generated as per the Bonus rule of that Employee.

Alternatively : You can add the similar details from Left Menu > Settings > Organization Profile > Team > Edit Official Profile

 

Bonus: View and Approvals 

Navigate to Left Menu > Human Resource > Reports 

Click on Bonus Approvals

Details: This page gives the details of the Employee’s whose Bonus are defined as per the settings done in Employee Official Profile. You can select the Employee with check mark and either Create Voucher or reject the Bonus

Note: Bonus will be visible only after the salary is generated of that relevant month

Summary: This page gives the details of the Employee’s whose Bonus are approved 

Reject: This page gives the details of the Employee’s whose Bonus that are rejected by the authorized person

 

Approved Bonus View

Navigate to Left Menu > Finance > Expense Voucher

After approval, Voucher is generated and it is visible in Pending Payments

Click on Payment > Complete the payment Process