Payroll System Essay
Payroll System is the heart of any human resource system of an organization. The solution has to take care of the calculation of salary as per rules of the company, Income-Tax calculation and various deductions to be done from salary including statutory deductions like income-tax and provident fund deductions. Payroll can be classified into two (2) namely: Manual System and the Computer based system. In this study we used to developed computer based “Payroll System” to improve a faster, easier and reliable of way of payroll. It helps the staff of the company accounting office for easy filing and conducting their finance share in every employee, clerk and maintenance of their company.
Payroll system can be used to speed up the process of calculating pay, ensuring that payments are both accurate and on time. They save you the burden of learning and understanding complex payroll legislation. Trouble free payroll processing is a critical need of any business. Payroll software completes payroll calculations within a fraction of the time it would take to do them manually, whilst your payroll staff might not like it, it makes perfect sense if you are trying to run a business. Another huge advantage of running payroll software over a manual process is in the reporting, most systems allow, weekly, month and annually required reports to be run at the press of a button.
Instead of shuffling through endless files let the software do the work. It possible with a lot of payroll software to integrate with your time sheet systems that record employee attendance or time worked. It a simple way for information about employee hours worked to be transferred into the payroll system removing yet another layer of manual processing. Some companies choose to operate a swipe card door system whilst many others operate on a system login basis. Payroll system. helps in forecasting and planning staff costs and budgets. Entering hypothetical numbers allow you to compare the exact total cost of an employee under different remuneration scenarios. Some payroll systems also allow more personnel based data to be stored such as records of annual leave and sick leave.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 7 November 2016
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