Lemonade Payroll Management

1. To set up the Payroll process, first we have to create the Salary Components.
2. After creating a Salary Component , the next thing we have to create is the Payroll Period. Setting up the payroll period is crucial because it helps you to define salary structure and compute taxes for a given period using the applicable Income Tax Slab.
3. After that, we can now set-up the Income Tax Slab.
4. Following the creation of salary components, payroll period and income tax slab we can create a Salary Structure using those components.
5. And Assign Salary Structure to employees .
6. If there is a salary structure assigned to the Employees ,we will now be able to process the payroll and provide salary slip to employee by creating a Payroll Entry
7. We can view the processed payroll in Salary Slip.