PAYROLL PROCESSING AND MANAGEMENT

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[ ] Retrieve Employee Master Data: Fetch all active employee profiles, including hourly rates, salaries, and tax information from the Employee Data Model.
[ ] Fetch Timesheet Entries: Retrieve all approved timesheet entries for the current pay period.
[ ] Retrieve Deductions and Bonuses: Fetch all one-time bonus or deduction entries (e.g., unpaid leave, commissions) linked to employees for the current period.
[ ] Calculate Total Gross Pay: Sum the base salaries and overtime pay for all employees to determine total company payroll liability.
[ ] Calculate Net Pay per Employee: Execute formula: (Gross_Pay + Bonuses) - (Taxes + Insurance + Deductions) for each individual entry.
[ ] Update Payroll Record Status: Update the 'Payroll Period' entry status from 'Draft' to 'Processing'.
[ ] Tax Compliance Review: Create a task for the Finance Manager to verify tax withholdings against local regulations.
[ ] Payroll Approval Task: Create a task for the Department Head to review and approve the final payroll calculation.
[ ] Generate Payslip Entries: Create new entries in the 'Payslips' data model for each employee, containing the breakdown of the current period's pay.
[ ] Mark Salaries as Paid: Update the status of the processed payroll entries to 'Disbursed'.
[ ] Send Digital Payslips: Send an automated email to each employee containing their individual payslip summary or a link to view it.
[ ] Payroll Summary Report: Generate a comprehensive PDF/Excel report summarizing total company expenditure, tax liabilities, and net distributions.
[ ] Create Bank Transfer File: Create a structured data entry (or CSV format entry) intended for upload to the corporate banking portal.
[ ] Notify Finance Department: Send an email to the Accounting team notifying them that the payroll funds have been released and the bank transfer is ready.
[ ] Archive Payroll Period: Update the Payroll Period data model to set the status to 'Closed' for the current month.

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