Odoo Payroll - Configuring rules for deductions
To properly configure payroll in Odoo one of the main considerations is configuring deductions and taxes. This video looks at how you can configure payroll in Odoo.
Video Length: 1:15 Hours Subscription onlySubscription Options
Learn to configure Odoo Payroll rules to handle any deduction
This video is for anyone who wants to learn how to setup a Payroll system using Odoo. Currently Odoo Payroll has only been localized for a handful of countries. Still Odoo Payroll provides a robust rule system that has a lot of flexibility in configuring a payroll system for your company.
One of the first things to understand about Odoo Payroll is that each employee is assigned a contract. At minimum, this contract specifies their tax structure as well as their wages. This contract can only keep track of a variety of employment related information.
Configuring US federal taxes using Odoo Payroll
In this video we look at how we could begin to configure Odoo Payroll to process payroll in the United States. Specifically we look at 2015 Federal Witholding taxes and how we can configure specific rule sets for single and married tax schedules. We look into how the rule can access the employee model and use the marital status to fire off the appropriate federal deduction table. In our deduction calculations we see how we can take a base tax rate and calculate a deduction based on the weekly period tax table provided by the IRS.
Learn how to program conditions and perform payroll calculations
The payroll system in Odoo allows you to configure and organize rules to properly deduct taxes, allowances and manage other calculations. This is largely because Odoo allows you to specify python functions and exposes critical models such as the employee, time sheets, and job contracts within the rules. In this video we demonstrate exactly how the payroll system in Odoo can be used to setup the 2015 federal witholding taxes. Naturally if you are trying to set up a tax system in another country the configuration is going to be different, but the way you configure the rules and assign them to employees remains teh same.