Payroll
Run payroll with confidence. Statutory deductions calculated automatically, payslips generated instantly, and every rupee posted to the ledger.
Key Capabilities
Payroll that runs itself
Employee Management
Maintain a complete employee master with personal details, bank accounts, PAN, Aadhaar, UAN, and ESI numbers. Track joining dates, designations, departments, and cost-centre assignments for accurate allocation.
Flexible Salary Structures
Define salary components - basic, HRA, DA, special allowance, LTA, and custom heads. Create multiple structures for different grades or locations and assign them to employees with effective dates.
Statutory Deductions
Auto-calculate Provident Fund (EPF/EPS), ESI contributions, Professional Tax (state-wise slabs), and income-tax TDS under the old and new regimes. Investment declarations feed directly into TDS computation.
Payslip Generation
Generate branded payslips in PDF format with gross, deductions, and net pay broken down by component. Employees access payslips through a self-service portal or receive them via email.
Payroll Journal Posting
After payroll is finalised, ThynkBooks creates the double-entry journal automatically - debiting salary expense accounts and crediting liability accounts for PF, ESI, TDS, and net pay. No manual entries.
Compliance Filings
Generate ECR files for EPFO, ESI contribution statements, and Form 24Q data for quarterly TDS returns. ThynkBooks keeps pace with statutory rate changes so your deductions are always current.
How It Works
Payroll in three steps
Configure Salary Structures
Set up salary components, define calculation rules, and assign structures to employees. ThynkBooks validates that statutory minimums (basic >= 50% for PF) are met before saving.
Run Payroll
Process payroll for the month with one click. ThynkBooks computes gross pay, applies all statutory and voluntary deductions, and presents a summary for review before finalising.
Pay & Post
Approve the payroll, generate the bank payment file, and distribute payslips. The payroll journal posts to the General Ledger automatically with cost-centre allocations.
Integrations
Payroll meets accounting
Salary journals post to the General Ledger. TDS data flows to Tax & Compliance. Bank payment files integrate with Banking for reconciliation.
Pay your team with precision
Set up salary structures and run your first payroll today. Free for up to five employees.