PayFit aims to provide the simplest way to keep track of salary updates and to let you change salaries whenever you need, without needing to calculate the difference between old and new rates if they occur mid-month.
This article will show you how to change the salary for an employee, who is paid monthly or yearly.
How to Change an Employee's Monthly or Yearly Salary
1. Navigate to the My Employees section
2. Select your employee in the left panel.
3. Click on Salary History
4. Click on Add a New Salary.
5. Add the desired figure for the base salary, the effective date of the change and the reason for the change then click Save Details.
The app will allow you to choose any date in the current month or in the month prior to apply the salary change. To find out more information on inputting backdated salary changes, click here.
⚠️Base salary changes will be effective from the date inputted into the app and will apply to all future payroll months. If the increase is temporary, please add an additional payment instead ⚠️
The app will automatically pro-rate an employee's salary if the change is effective from a mid point in the month so that the increase / decrease in earnings is reflected from a given date onwards. Both rates will be combined to show a single 'base salary' line on the payslip.
How to see a History of Salary Changes
You will be able to see the history of all salary changes by heading to My Employees > Employee Name > Employment > Salary History.
You can only input one salary change per month.
If you needed to add a second salary change, the difference in pay will need to be calculated and added as an additional payment or deduction to the payslip.