Where can I configure salary components in BUSY?
It seems like you are looking for instructions on how to add a salary component in the BUSY. Here are step-by-step instructions based on your description:
Step 1 :In the software, navigate to the "Masters" menu. This menu is typically found in the administration section.
Step 2 :Within the "Masters" menu, look for an option that says "Salary Component" or something similar. Click on this option to access the salary component configuration.
Step 3 :You should now be in the salary component configuration section. Here, you can add new salary components. There should be an option or button to "Add" or "Create" a new salary component.
Step 4 :When adding a new salary component, you will typically need to provide the following information:
Name: Enter a name for the salary component (e.g., Basic Salary, HRA, Conveyance).
Type: Specify the type of component (e.g., Earnings or Deduction). Salary components can be earnings (added to the employee's salary) or deductions (subtracted from the employee's salary).
Formula: If the component has a fixed amount, you can enter that amount. If it's calculated based on a formula, you may need to specify the formula.
Taxability: Indicate whether the component is taxable or tax-exempt.
Other Details: Depending on the software, you may have the option to provide additional details such as account codes for accounting purposes.
Step 5 :After entering the necessary information, save the new salary component. This should add it to your list of configured salary components.