How to change the full & final settlement month

To complete the full and final settlement process for an employee, it is essential to account for the time required for clearance, which typically takes 30-45 days after their last working day. In Keka, the employer can select the final settlement month during the FnF process so that the system can calculate it accordingly. This ensures that the settlement process happens smoothly, even with the delay caused by clearance.

To change the F&F Settlement Month, Click on the Org (1) tab,  then find Exits (2) and open Full & Final (3). Under Actions, click on the 3 dots against the employee's name. From the options that pop up, choose Update (4).

In the Exit Process window, complete the following steps: Exit Notice, Pending Activities, Payables, and Dues & Overrides. After completing each step, click on Save & Continue.

In the Finalize step, find ‘Settlement Amount is Payable in which Payroll?’ and select the month here.

After this, click on Finalize & Settle.

If an employee resigns in October but their settlement month is in January, their status will appear as skipped in the pay register until December. During this period, all payable values will also be shown as zero.

Well, now you have successfully changed the F&F Settlement Month! If you have more queries, please refer to the other articles or contact our product experts right away!