THE PROBLEM AND ITS SETTING
Nowadays, there are rapid changes happening in our society, especially if we talk about computers and its technology. The researchers saw these changes in business, in the office, in the school and even at home. But as time goes on and as this computer continuous evolving, why they are still ignoring these changes? They are still embracing the old system whether in business or even at school. Payroll system is a system designed for the employee of some business organization. It is done manually and very time consuming. Computerized Payroll System is a system that is done automatically and more efficient and will lessen time in computing the salary of the employees. One of the business organizations using a computer as their equipment is S. Cabral, N. Magnaye and Company (SCNM & CO.), but is this system for payroll still efficient? The researchers encouraged this business organization to enhance or develop their existing system that can help them to be more accurate and efficient in computing the salary of the employees.
Objectives of the Study
The objectives of the study are the following:
1. To help S. Cabral, N. Magnaye and Company in reducing or minimizing the time of computing the employees’ payroll. 2. To secure all the important documents of the employees’ payroll record. 3. To provide accuracy and efficiency in computing the payroll of the employees.
Scope and Limitations of the Study
This system created by the authors focused mainly on the computation of S. Cabral, N. Magnaye and Company’s payroll. This system on payroll covered only the computation of salaries or wages of each guard.
Significance of the Study
In today’s generation, computers made an important role to both company and the group as well. To the company, it can help them lessen their time in manipulating those data required in the Payroll System. It can provide a more accurate and efficient managed system, especially to the person who is in charge in computing the Payroll. More than that, it help the researchers to apply what they have learned in the past few years, the techniques and skills in developing the program. But in this matter, they did not only rely on what they have learned from school, but also from their research and self-studies. CHAPTER 2
The HOW of the Company
S. Cabral, N. Magnaye and Company has been registered with Securities and Exchange Commission on April 22, 2003, a partnership formed by Mrs. Saylita A. Austria-Cabral, PRC ID No. 68948, and Mrs. Nimpa P. Magbojos-Magnaye, PRC ID No. 84927. The partnership was initially formed in 1997, when Mrs. Cabral registered with DTI, Cabral Accounting and Auditing Services on August, 1997. When it expired in 2002, S. Cabral, N. Magnaye and Company was finally registered with SEC. The company’s initial services are bookkeeping for small and medium taxpayers, including tax compliance services for these clients. Then the company started to widen its horizon by providing audit services and retainer services to various clients from within Batangas and also as far as San Pedro, Laguna and Makati City. In year 2000, we started accepting On the Job Trainees from the graduating Accountancy students of the University of Batangas, Lyceum of the Philippines University-Batangas and Batangas State University. In January 4, 2005, our Board of Accountancy Accreditation Certificated No. 0918 was issued in favour of the partnership. Since year 2000 up to present, the partners are actively participating in seminars on IAS/IFRS, PAS/PFRS and on TAX UPDATES to become well updated and abreast with the current changes on accounting standards and therefore become globally competent in the practice of our profession.
The WHAT of the company
To be globally competitive professionals in our profession as Accountants To provide reliable and dependable Independent Audit Report on Financial...