How to Round Off the Salary Components?

 

Salary components are calculated using predefined formulas in the salary structure. However, sometimes the calculated value of a component may result in decimals. In such cases, employers can choose to round off the component value to whole numbers to simplify the calculations and payments.

In order to round off the components, follow the steps below.

Click on Payroll (1). Go to SETTINGS (2) and find Pay Groups (3). If there are multiple pay groups, make a choice. Now, under ACTIONS, click on the configure icon (4) against the pay group. 

On the next window, click on Other Settings (1) and then, on Miscellaneous Settings (2). Find
the 3 dots underneath and click on them. Now, click on Update Settings (3).

On clicking Update Settings, another window will pop up. Find the title Component rounding and select Round monthly value of components (1). 

Then you can choose the rules for rounding off the component (2).

Here's how the values of components appear if rounding of is disabled

And here's how the component values will be updated after the rounding off is enabled.

 
'Round off monthly net pay of employees to the nearest digit'



Now you are done! If you have more questions, please go through the other FAQ articles or contact us!