Full & Final Settlement for Complete Employee Exit Processing
Complete an employee's full and final settlement by reviewing salary, leave encashment, arrears, bonuses, loans, assets, expenses, advances, gratuity, notice period recovery, and other settlement amounts in one workflow.
Settle Salary, Leave & Pending Payroll Amounts
Review the employee's worked days and salary amount, check pending payroll items, settle leave balances, and account for arrears, bonuses, and outstanding loan amounts as part of the final settlement.
Settle Employee Advances and Approved Expenses
Review outstanding advances and determine the amount to be settled, then review approved expense claims and their settlement amounts as part of the employee's final dues.
Recover Unreturned Assets & Damage Charges
Review assets assigned to the employee, record the applicable recovery amount, and add a reason for asset recovery or damage charges before including the amount in the final settlement.
Include Gratuity & Notice Period Recovery
Review gratuity details, enter the actual gratuity amount to be paid, and account for the employee's notice period served or shortfall when notice period settlement is required.
Add Other Amounts That Need to Be Settled
Include additional settlement items that do not fall under salary, assets, advances, reimbursements, gratuity, or notice recovery by adding a settlement name, amount, and description.
Review the Final Settlement Before Payment
Review the final settlement components and payable amounts in one summary, make the required final payment entry, and download the settlement details once the settlement is finalized.
