Release Date: 6^th October 2023 (Friday)
Version: 1.6

Introduction

The document communicates the enhancement updates in this release of the Financio Payroll v1.6

Compatibility

These features and enhancement updates have been tested and made available on the following product plan: 

1. Enhancement: Bank Transfer Files and Statutory Payment Files Update

To streamlined and enhance your efficiency in payroll processing, this version delivers significant updates to the bank transfer and statutory payment files as listed below:

    (a) Applicable to Malaysia only:

• HSBC Bank - Salary File (GIRO ACH), EPF, Tax, EIS and SOCSO text files
• Maybank    - Salary File (MAS), EPF, EIS and SOCSO text files

    (b) Applicable to Singapore only:

• HSBC Bank - Salary File (GIRO ACH)
• Maybank - Salary File (APS+)

You can now export your payroll data into any of these bank transfer files, which can be seamlessly uploaded to your respective bank portals for swift salary disbursements to your employees. To add on, you may easily generate statutory payment files for essential local statutory contributions, including KWSP, LHDN, and PERKESO.

2. Enhancement: Generate Payment Receipt

This release present to you a convenient enhancement to our subscription management system. Starting now, your payment receipts are readily available under the Subscription screen. Simply just click on the Receipt download icon at the Payment History section to access and manage your receipts easily. Refer to IMG001:

IMG 001

3. Enhancement: User-Definable Methods for Salary, Overtime, and Paid/Unpaid Leave Calculations

Within the Settings > Time-sheet Policy screen, you now have the ability to define calculation methods for the following items:

The settings you make on this screen will be applied when processing monthly salary, overtime, and both paid and unpaid leave calculations during the Salary Calculation process. This customization allows for greater flexibility and precision in your calculations. For more details, click here.

4. Enhancement: Public Holiday Settings

In this release, you will be able to customize the default public holidays provided by the system. On the Holiday screen, you can now toggle them between Active and Inactive, giving your business the flexibility to align with Malaysia's labor law guidelines and select the six elective public holidays that best suit your company's policies. Refer to IMG 002.

IMG 002