Financial Closure
Navigate to Organization → Organization Settings → Tax Configuration.
Fill all the tax configuration details of your organization before initiating the Financial Closure.
Mandatory fields are TAN,PAN,TIN(TDS), Form 16 Signatory, and Form 16 Signatory Father Name.
If all the payslip are finalized by March 2025, please initiate the financial closure process. Once the financial closure is complete, no modifications can be made or new payslips generated for that period. The application will lock the payroll generation for the entire year (April 2024 to March 2025), including leave data apply for that period. Please ensure to verify before proceeding.
Steps for the Financial Closure
Payroll → Salary Payslip → Click Closure button → Quarter closure and choose all the quarters.
Tax and Statutory Compliances → Tax Rules → Top icon → TDS Payment Tracker → Click each month and update the details required.
Tax and Statutory Compliances → Compliance Forms → Form 24Q → Generate 24Q and select all the quarters.
Tax and Statutory Compliances → Tax Rules → Tax Slabs → Click Financial Closure button.
Tax and Statutory Compliances → Compliance Forms → Generate Form 12 BA
Tax and Statutory Compliances → Compliance Forms → Generate Form 16.
Fig: Tax Configuration
Fig: Quarter Closure
Fig: TDS Payment Tracker
Fig: Form 16 Generation
Fig: Form 12BA Generation
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