Excel is one of the most widely used software in the professional world. Around 63% of organisations consider it an effective tool for accounting. Hence, it is no surprise that it is one of the most widely employed software to create and manage payslips. Plus, there are several salary slip formats in Excel with formulas to ease the creation of customisable payslips.
But have you identified the best way to design and format payslips? Read on as we discuss salary slip formats and provide you with tips and tricks to ease payslip formatting and save time!
A salary slip consists of essential details, starting with the company name and identifying information about the employee, such as their name, designation and ID. A payslip is a useful one-stop platform for tracking attendance and other job-related details on an official record.
Along with standard details, the payslip format in Excel will comprise the following information:
You can add more relevant elements as you see fit without removing the existing fields. Once you have confirmed the details to include, it’s time to open Excel and start preparing a salary slip!
There are two ways to get started –
Excel offers suitable methods to generate your payslip depending on your chosen option. The only pre-requisite is a salary sheet containing the names and salaries of the employees working in the organisation.
Here are some of the widely used techniques to create a simple salary slip format in Excel:
The primary step is to create a structure for your organisation’s payslips. After you have included all the relevant fields, it is time to automate the worksheet by adding some crucial formulas. Some of them are as follows:
Excel is known for its accessibility and ease of usage. It has garnered this reputation due to multiple in-built functionalities to ease the process of creating a salary slip format in Excel. Here are some valuable functions to help you:
Read this blog for a detailed process of downloading your salary slip.
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A salary account with Fi can get you:
The key is using automated Excel functions and minimising manual data entry. With formulas like SUM() and TODAY(), and functions like data validation, you can set up your salary slip and control the information to be entered.
The secret to easy formatting is to maximise the usage of Excel formulas and functions. You can reduce manual efforts to maintain your salary slips and rely on automated functionalities and formulas in Excel to save time.