Arrears (also sometimes known as an arrearage) is a legal term for the part of a debt that is overdue after missing one or more required payments. Arrears is basically money that is owed and should already have been paid. In HawkHR, the admin can add arrears in the system for any employee.
It is basically any adjustment in salary, can be both positive or negative.
The purpose of this module is that if there any discrepancy in the salary of an employee for any reason, then an arrear of that amount can be added into the system which would get added/ processed in that employee?ÇÖs salary based on the transaction date of the arrear added.
This helps in situations like:
If employee got salary less than his actual salary ?Çô In this case, an arrear of that amount (the i.e. amount by which the salary is less than the actual salary) can be added into the system. This amount will get processed (i.e. added ) in the next months salary. The type of the arrear, in this case, is ?ÇÿEarning?ÇÖ.
If employee got salary more than his actual salary ?Çô In this case, an arrear of that amount (the i.e. amount by which the salary is more than the actual salary) can be added into the system. This amount will get processed (i.e. deducted ) in the next months salary. The type of the arrear, in this case, is ?ÇÿDeduction?ÇÖ.
Leaves Encashed?Çô If the year-end process is triggered and the employee has some leaves which can be encashed then the leaves encashed get added as arrears in the system. And the get processed in the coming payroll. The type of the arrear, in this case, is ?ÇÿEarning?ÇÖ.