Can your payroll system give you a 100% regulatory compliant and accurate bank file?
Once you are done with accurately processing your payroll, the next step is to pay your employees, usually electronically, creating the bank file to upload on the online banking system. This can be a tedious job, as a small error would result in the rejection of the full file i.e. all payments or payment records which has errors, resulting in the need to repeat the bank file generation for the rejected batch of records.
Different banks have different file formats. Mostly commonly in the GCC region is a text file containing payroll payment records. HR Chronicle has already 14 different file formats readily available, which normally covers all the bank file formats of entire GCC. Majority of the GCC countries follow formats which not only include salary, they need break of salary, with regard to the basic salary, allowances, unpaid leaves, deductions and other such information.
Since HR Chronicle is a tightly integrated payroll solution, you need not worry of the data you will need to add in the banking files at the time of bank file generation, we have it all covered.
HR Chronicle gives you the ability to pay through different legal entities as you may want to process the payroll in one go but your employees are legally under multiple and individual legal establishments, this is particularly a typical scenario, when you have multiple branch locations and each location has its own commercial license or multiple legal entities operating as a group company under one brand.
In such a scenario you would process the payroll in one go have central reporting, for all aspects of your data, but you would generate multiple compliant ready bank files at the click of a mouse.
So the stressful compliance process is completely taken care of, by HR Chronicle, so you can upload the require bank file in your banking system and move forward.
