Running Payroll

Watch this video on how to manage your payroll in Wafeq

Wafeq makes sure that your salary expenses are recorded in the correct month regardless of when you pay out the salaries.

Listing employees and salaries

  1. Go to the Payroll module on the left side menu.
  2. In each row, enter the employee's Name and one or more Pay items
    • Enter the Description and the Amount of each pay item. 
    • Indicate the Account where these pay items will be recorded. This is usually the Salaries and Employee Wages account.  
    • Enter the Currency of the pay items. 

Generating payslips

When the payroll is set up, you can generate payslips each month.

  1. Click on Create pay run
  2. If you need to, modify the Amounts or add additional Pay items by clicking on Add line. For example, you can do so if you want to reward your employee with a Bonus amount. 
  3. Enter the Date when you would like to record the payslip expense. 
  4. Change the Status to POSTED.

This records an expense in your Profit and Loss report under the account you specified for the pay items. At this point, you will have a Payroll Payable liability on your Balance Sheet. This means that you've recorded salary expenses but haven't paid them out yet.

Recording payslip payments

To record a payslip payment, go to Pay runs, then click on the + button under the Payment column.

  1. Enter the Date of the payment. 
  2. From the Paid through drop-down menu, select the account from where you made the payment. 
  3. Indicate the Amount of the payment. 
  4. Click on Save.

If the payment is fully paid, the Status will automatically change to PAID.