For City Mayor’s Market
Group no. 6
Background of the Study
Nowadays, business establishment or corporation must use modern technologies to make their tasks easier and faster, technologies that will help people to solve complex problems. Businesses needs advance system that saves time and also secure. One of the examples is the payroll system.
Most company now uses computerized payroll system. A computerized payroll system will not only resolve difficult problems but also it will provide fast process and accurate calculation of the salary. According to Dave Roose in his article on How Payroll System Work “If you make a mistake on an employee's paycheck enough times, he'll probably quit.” In manual payroll system there is so many possible errors that may encounter but if the payroll is computerized, payroll clerks will not need calculator to compute the salary of the employee.
Payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. (Wikipedia)
The employer are required to hold back the part of each employee’s earnings because the money will be used for paying the income taxes union dues and medical insurance premiums that is responsible of the employee. (Fundamental Financial and Managerial Accounting Concepts published by McGraw-Hill Internationa edition)
Payroll processing is actually a special-case purchases system in which the organization purchases labor rather than raw materials or finish goods for resale. (Accounting Information System by James A. Hall)
The proponents will propose a system that is entitled Computerized Payroll System. It will save time, produce faster result and will lessen the errors.
Historical Background of the Study
City Mayor’s Market...