Enhanced Cost to Company Feature Now Available

We’re happy to let you know that the latest version of our Cost to Company feature is now live!

You might have noticed the feature on the Transaction History Report (THR) screen before. Now, you can customise cost to company figures and add them to payslips, too. This feature was developed in response to customer requests, and we would like to thank everyone who has given us feedback so far. Your insights and input are invaluable to us!

What is Cost to Company (CTC)?

CTC refers to the total amount an employer spends on an employee. This usually includes salary, benefits, and employer contributions. Many employers use CTC to give themselves and their employees a more accurate idea of the cost of employment.

How to use CTC?

Every organisation structures remuneration differently, so we’ve made the CTC figure fully customisable. You can decide what to include in your CTC calculation, whether that’s just salary and benefits, or additional items like bonuses, employer contributions, and allowances. Since there are no pre-determined required items, you can tailor the selection to your preferences.

You can use SimplePay’s default CTC calculation or configure your own, and then decide where to display CTC figures: on payslips, in the THR, or both.

For more information, please visit our help page. If you need any further assistance, you are welcome to contact our friendly Support team at support@simplepay.cloud.

Want to know more about SimplePay? Check out our website, or try our payroll software for free with a 30-day trial. Get acquainted with our user-friendly software by reading our getting started page or taking our free online course.

Take care,

Team SimplePay