Payroll & Finance Management

Integrated PAYROLL AND FINANCE MANAGEMENT with Morung Tech

Payroll management

Comprehensive reporting and tracking

Automated tax calculations and deductions

Time-saving features

Automation of financial processes

Expense tracking and compliance

Enhanced financial management

Budgeting and accounting

Improved transparency and accountability

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Morung Tech offer essential tools for managing finance and payroll in colleges and universities, ensuring accurate fee collection, efficient account management, and effective salary processing.

PAYROLL SETTINGS

Configure and manage payroll settings, including employee details and bank account information, for schools, colleges, and universities.

SALARY COMPONENT

Define, manage, and customize salary structures and benefits for different employee categories in educational institutions.

PROFESSIONAL TAX

Calculate and manage professional tax deductions, generating reports for compliance in schools, colleges, and universities.

EMPLOYEE SALARY MANAGEMENT

ASSIGN SALARY

Administrators can assign salaries to employees based on job roles, experience, and other factors.

GENERATE SALARY

Automates salary generation, ensuring accurate, timely payments, compliance with organizational policies, and error-free processing.

GENERATE ADVANCE SALARY

Allows employees to request and receive salary advances through the Morung Tech software.

SALARY INCREMENT

Enables administrators to adjust salaries based on performance, market factors, and organizational budget.

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PAYROLL REPORTS

PAYSLIP REPORT

Generates individual payslips detailing earnings, deductions, and net pay for each employee.

PAYROLL CATEGORY WISE

Categorizes payroll data by type, like basic pay, allowances, and deductions, for easy reporting.

SALARY OUTSTANDING

Tracks outstanding salary payments, ensuring timely and accurate employee compensation processing.

OUTSTANDING SUMMARY

Summarizes outstanding salary payments across periods, highlighting potential payment issues.

ACCOUNT MANAGEMENT

BANK TRANSACTIONS

Manages financial transactions with banks, including deposits, withdrawals, and transfers.

CASH TRANSACTIONS

Handles cash-related financial transactions, such as receipts, payments, and petty cash.

JOURNAL VOUCHER

Records non-cash or non-bank transactions, such as depreciation, adjustments, and accruals.

ACCOUNT REPORTS

DAY BOOK

Records daily financial transactions, including receipts and payments, classified by type.

JOURNAL BOOK

Records transactions requiring journal entries, such as adjustments and accruals.

GENERAL LEDGER

Maintains a complete record of all financial transactions, monitoring balances and adjustments.

BANK BOOK

Tracks all bank-related transactions, including deposits, withdrawals, and transfers.

CASH BOOK

Records all cash-related transactions, including petty cash, receipts, and payments.

TRIAL BALANCE

Helps check for errors by comparing total debits and credits in the accounting system.

FINANCIAL REPORTS

BALANCE SHEET

Shows the institution's financial position, including assets, liabilities, and equity at a specific time.

PROFIT AND LOSS

Summarizes all income, expenses, gains, and losses over a specific period.

BANK RECONCILIATION

Reconciles bank statement differences with financial records, ensuring accuracy.

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FREQUENTLY ASKED QUESTIONS

Have Any Questions?

The Payroll and Financial Management System is an integrated solution that automates employee salary management and financial processes, ensuring compliance and accuracy for schools, colleges, and universities.

It streamlines payroll processing, enhances financial management, reduces manual errors, improves reporting capabilities, and ensures compliance with financial regulations and tax requirements for schools, colleges, and universities.

Yes, both Payroll and Financial Management System components can be customized to meet the specific requirements of your school, college, or university, including salary structures and financial reporting formats.

The system generates various reports, including payslips, payroll category summaries, financial statements, and budget tracking reports, providing valuable insights for effective decision-making in schools, colleges, and universities.

The system automates tax calculations and deductions for payroll while also providing features for tracking expenses and ensuring compliance with financial regulations in schools, colleges, and universities.

Yes, Morung Tech offers comprehensive training and support to ensure users in schools, colleges, and universities can effectively navigate and utilize the system for both payroll and financial management tasks.