Automated payroll

 

Provides cost and process efficiencies and allows for fewer errors in accounting and regulatory compliance. Here are some key features:

 

Multiple currency calculator: Calculate and pay in any currency. Allows automatic contract filing and defines calculation methods and applicability of various wage elements. Final payroll output will automatically appear in financial statement.

 

Multiple CBA: System allows setting of any number of CBAs and their applicability, ensuring CBA compliance. Automatic integration with payroll and leave or holiday calculation, as well as various pay entitlements.

 

Accruals: All payroll accruals handled and posted accurately and correctly in accounting system. Upon payment due accruals are automatically reversed.

 

Leave Pay Calculation: Based on applicable CBA specifications, system calculates automatically leave entitlements and enters them into the account books accordingly.

 

Accounting Integration: Since every wage element can be posted to different accounts and cost centers are automatically configured, the payroll can be posted to an accounting system of your choice with a single click.

 

Bank Remittance: Allotments and dues to crew payouts can be processed and remitted through a dedicated bank interface, thereby eliminating the risk of mistakes and keeping full record for audits.

 

Tax Calculator: Any tax regime of any complexity can be accommodated in and COMPAS will always provide flawless Calculation and tax compliance.

 

Reporting: Big picture payroll reports, exposure reports, accruals reports, drill down per nationality manning source, fleet, owner, all the way to individual crew. Full audit trail on all actions for traceability and easy auditability.