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Open Payroll

Brand: Open Financial Technologies Pvt Ltd.

  • 4.2

  • 5 Ratings

Open Payroll is a payroll management software that gives businesses the benefits of an integrated payroll system without hassle. Businesses can run payroll, disburse salaries directly and make TDS payments in a few clicks. It allows companies to focus on what matters while Open Money takes care of the entire payroll and compliance. With Open Money payroll software, you can run your business payro...

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Open Payroll Software Overview

What is Open Payroll?

Open Payroll is a payroll management software that gives businesses the benefits of an integrated payroll system without hassle. Businesses can run payroll, disburse salaries directly and make TDS payments in a few clicks. It allows companies to focus on what matters while Open Money takes care of the entire payroll and compliance.

With Open Money payroll software, you can run your business payroll within minutes, thus increasing efficiency and saving time and money.

Why Use Open Payroll?

Open Payroll empowers your employees with a self-service portal to mark attendance, manage leaves, generate pay slips, and record their daily expenses. Moreover, salary is calculated automatically and transferred directly to employees’ bank accounts in just a few clicks.

In addition to that, this payroll management software ensures hassle-free filing of TDS, PF, ESI, PT, etc. It also enables the disbursement of employee salaries directly to your employees’ account from the Open Business account. Hence, with Open Payroll, you have all your bank account details in one place with a complete overview, thus saving you a lot of time.

How Does Open Payroll Work?

It is easy to get started with Open Payroll. Create an employee ID or upload a list of employees with employee details like name, email, etc. Add salary details in CTC. This will help calculate other components such as Basic salary, PF, tax & more. Finally, you can pay compensation directly into the employee’s bank account, approve pay slips, and more.

Benefits of Using Open Payroll

  • Complete automation: Open Payroll is intuitive that requires fewer commands to deliver exceptional results. Everything can be done systematically and on time with Open Payroll, from employee onboarding to the final settlement on resignation. The system is automated with zero chances of errors.
  • Gentle attendance monitoring: HR professionals can easily track employee attendance with built-in clock-in/clock-out features. Besides, it also automates the salary calculation as per the attendance data.
  • Effortless leave management: With Open Payroll, you can effectively manage your employees' leave requests by configuring the system's holiday and leave calendar.
  • Easy to use employee portal: The employee service portal saves your employees’ time in applying for leaves, declaring taxes, tracking pay slips, and declaring previous income. This is because it can be done by themselves on the system.
  • Direct salary and TDS payment: Open Payroll enables the disbursement of employee salaries directly to employees' accounts from the Open Business account. Hence you don't have to process wages separately.
  • One-click pay slip generation: It lets you generate statutory-compliant pay slips once you configure the system with salary details.
  • Smooth report generation: With the Open Payroll system, you can generate HR reports for attendance, leave, and statutory compliance. It eliminates the need for year-end reconciliation reporting as you can generate the reports on the go.

Pricing of Open Payroll

Open Payroll price details are available on request at techjockey.com. Please request a call back for subscription-related information and to avail offers on premium packages.

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Open Financial Technologies Pvt Ltd. Company Details

Founded Year:  2014

Open is Asia’s first and fastest growing business banking platform for SMEs and startups. Open helps businesses automate their finances by letting them collect online payments, do bulk payouts, reconcile transactions and integrate banking into their business workflows

Director/Founders Ajeesh Achuthan, Anish Achuthan, Deena Jacon, Mabel Chacko
Company Size 1-100 Employees

Open Payroll Pricing & Plans

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Open Payroll Features

Payroll Management

  • icon_check Overtime Management
    Tracks and calculates employee overtime hours.
  • icon_check Gratuity Calculation
    Calculates gratuity as per Indian statutory requirements.
  • icon_check Automated Payroll
    Streamlined payroll calculations for timely processing.
  • icon_check Direct Bank Transfers
    Automated salary deposits directly to bank accounts.
  • icon_check Off-Cycle Payroll Processing
    Process unscheduled payrolls for bonuses or adjustments.
  • icon_check Multiple Pay Rates and Schedules
    Supports varied pay rates and custom pay cycles.
  • icon_check Bonus and Incentive Management
    Configures and manages employee bonuses and incentives.
  • icon_check Variable Pay & Commission Management
    Manages variable pay and commissions accurately.
  • icon_check Expense Reimbursements
    Automates employee expense reimbursement processing.
  • icon_check Employee Benefits Management
    Administers employee health, retirement, and other benefits.
  • icon_check Tax Deductions
    Calculates pre-tax and post-tax deductions for compliance.

Compliance Management

  • icon_check Provident Fund (PF) Compliance
    Ensures timely PF contributions and reporting.
  • icon_check Labour Welfare Fund (LWF) Management
    Manages LWF deductions for eligible employees.
  • icon_check Income Tax (TDS) Management
    Automates TDS calculations and deductions.
  • icon_check Professional Tax (PT) Compliance
    Manages PT deductions per state regulations.
  • icon_check Employee State Insurance (ESI) Compliance
    Tracks and manages ESI contributions.

Time, Attendance & Leave Management

  • icon_check Leave & Absence Management
    Tracks leave balances and employee absences.
  • icon_check Sick Leave and Vacation Tracking
    Manages sick and vacation leave with accruals.
  • icon_check Attendance Tracking
    Monitors employee attendance for accurate payroll.
  • icon_check Leave Policy Customization
    Customizable leave policies to suit company rules.
  • icon_check Holiday & Leave Calendar
    Manages holiday schedules and leave tracking.

Employee Self-Service (ESS)

  • icon_check Payslip Access
    Provides digital payslips for employee download.
  • icon_check Expense Claims
    Employees submit and track expense reimbursements.
  • icon_check Income Tax Planner
    Allows employees to plan and declare tax exemptions.

Employee Lifecycle Management

  • icon_check Employee Database
    Centralized repository for all employee information.
  • icon_check Document Management
    Stores important employee documents securely.
  • icon_check F&F Settlement
    Automates final settlements upon employee exit.
  • icon_check Employee Shift Scheduling
    Schedules shifts for diverse work hour needs.

Banking Integration & Payment Processing

  • icon_check Bank Transfer Files
    Generates files for seamless bank transfers.
  • icon_check Cheque Processing
    Supports cheque payments for payroll processing.
  • icon_check Direct Deposit Scheduling
    Schedules direct salary deposits on paydays.
  • icon_check Multi-Bank Support
    Integrates with multiple banks for payroll.

Automation and Customization

  • icon_check API Access
    Provides API for integrations with other systems.
  • icon_check Scheduled Payroll Processing
    Automates scheduled payroll cycles.
  • icon_check Custom Payroll Rules and Policies
    Customizable payroll rules for flexibility.
  • icon_check Configurable Workflows & Approvals
    Set workflows for approvals in payroll.
  • icon_check Alerts & Notifications
    Sends automated notifications for payroll events.

Security and Data Privacy

  • icon_check User Access Management
    Manages access permissions to secure payroll data.
  • icon_check Two-Factor Authentication (2FA)
    Enhances security with 2FA for logins.
  • icon_check Data Backup and Recovery
    Ensures secure data backup and easy recovery.
  • icon_check Encrypted Data Transmission
    Protects payroll data during transfers.
  • icon_check Audit Logs and Monitoring
    Tracks and logs activities for audit compliance.

Integrations

  • icon_check API Integration
    Connects to external systems for data exchange.
  • icon_check Payment Gateway
    Integrates with gateways for payment processing.
  • icon_check Third Party Integration
    Integrates with third-party software solutions.
  • icon_check Biometric Integration
    Links with biometric systems for attendance.
  • icon_check HRMS
    Syncs with HRMS for unified employee data.
  • icon_check Accounting Software
    Integrates with accounting systems for seamless data.
  • icon_check Performance Management
    Connects with PMS for performance-linked pay.

Reporting and Analytics

  • icon_check Payroll Reports
    Detailed reports on payroll processing and expenses.
  • icon_check Compliance Reports
    Provides reports on statutory compliance.
  • icon_check Leave and Attendance Reports
    Tracks leave and attendance records.
  • icon_check Employee Master Report
    Comprehensive report on employee details.

Open Payroll Specifications

Supported Platforms
Ubuntu Ubuntu Windows Windows iOS iOS Android Android MacOS MacOS Linux Linux
Devices
Desktop Desktop Mobile Mobile Tablet Tablet iPad iPad
Deployment
Cloud-Based Cloud-Based
Suitable For
All Industries
Business Specific
All Businesses
Business Size
Startups Medium Business SMBs SMEs MSMBs
Language
English

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Open Payroll Review

4.2

Out of 5

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Overall Rating

Based on
5 Verified Ratings

Rating Breakdown

  • Features 4.1
  • Value for Money 4
  • Ease of Use 4.3
  • Customer Support 4.5

92% Recommend this Product

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Which operating system does Open Payroll support?

Open Payroll management software is compatible with Windows and Mac operating systems.

What is the deployment type of Open Payroll?

Open Payroll supports both web and cloud-based deployment types.

How much does Open Payroll cost?

Open Payroll premium plan is available on request at techjockey.com.

Who are the potential users of Open Payroll?

Small and medium enterprises, startups, and freelancers – anyone who wants to run payroll are the potential users of Open Payroll.

How can you download Open Payroll?

Open Payroll is cloud-based, so you do not need to download it. You can get access to Open Payroll by registering on Open. However, if you want to use it as a mobile app, you can install it on your phone using Google Play or Apple Store.

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Terms and Condtions

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Users with registered businesses can purchase goods from merchants on the platform to satisfy their business needs. Users are not permitted to utilize any products acquired through the platform for resale, advertising, business, or further distribution.

For each purchase made, users will receive a Tax Invoice (or 'GST invoice') that includes specific details such as:

  • the GSTIN of the user associated with their registered business, and

  • the specified Entity Name for their business.

It should be noted that not all products are eligible for GST Invoice. Only the products displayed by participating sellers with the 'GST-based Invoice Available' callout on the product description page would qualify.

Certain goods and services are not eligible to get a GST Invoice, including items with VAS, i.e., Value Added Services (e.g., Total Mobile Protection/Assured Buyback) and those involving an exchange offer at the time of purchase.

Users must ensure the accuracy of the GSTIN, and business entity name provided for the GST Invoice. Requests for corrections into GST Invoice would not be accommodated by Techjockey.com or any Seller, and any issues arising from user-provided information are the sole responsibility of users.

Techjockey.com is not liable for the GST Invoice or any associated input tax credit. To efficiently claim an input tax credit, users should select the registered place of business address as per the GST authority's data and follow the provisions of the GST Act and rules.

To claim an input tax credit, the delivery and billing addresses must match. Furthermore, input tax credits will not be granted if the delivery address and GSTIN on the invoice are from different states. In case of incorrect GST details provided during the order placement, the order will be canceled automatically.