Settlements & Offboarding
When an employee exits, calculate their full & final settlement and reassign their open work so nothing falls through the cracks.
Full & Final Settlement
Calculate
Go to Payroll → Settlement and click Calculate Settlement. Pick the Employee, Last Working Date, Exit Type (Resignation, Termination, Retirement, Contract End, Mutual Separation, Absconding), and optional Notes.
Review the Breakdown
Tickmark computes the settlement automatically from the employee’s contract and history: leave encashment for unused encashable balances, gratuity (when eligible at 5+ years of service), notice-period buyout or recovery for shortfall days, and recovery of outstanding loans.
Submit & Approve
Click Submit to send the settlement for approval, then Approve to lock the amounts.
Mark Paid
Once the payout is made, click Mark Paid to close the settlement.
| Status | Meaning |
|---|---|
| Draft | Calculated, still editable |
| Pending Approval | Submitted for sign-off |
| Approved | Locked, awaiting payout |
| Paid | Settlement completed |
| Cancelled | Withdrawn |
Offboarding an Employee
Offboarding reassigns the person’s open work before their account is deactivated:
- Open the employee’s profile from the team directory.
- Start the Offboarding Process.
- Select Categories — choose which of the employee’s Tasks, Projects, and Leads to hand over (or Select All).
- Assign To User — pick the teammate who takes them over, then complete the process.
Terminate the employee’s contract and settle them before deactivating the account — settlement needs the contract’s salary and leave data.
Exited employees keep appearing in settlement records and payroll history, so year-end reporting stays complete.