Payroll
Payroll
Kudler Fine Foods uses a biometric time system which requires the usage of time clocks to monitor the time employees engaged in work responsibilities. The method requires the use of a finger touch pad to identify the numerous time punches made by the employee. The employees information is entered upon hired into the company’s payroll system. Based on the numerous time punches made, the organization evaluates the employees work hours and computes the employees salary. The computation for employee salary includes “regular time, overtime time, bonuses, holiday pay, vacation pay, etc.” and both federal and state deductions as well as other government deductions and individual benefit deductions such as 401(k) contributions to the employee’s salary (Apollo Group Inc., 2013).
Although, this is an effective method to monitor employee work hours and compete payroll, the company’s current system is not directly linked amongst the three operating subsidiaries. The purchase of an industry-specific software can help integrate the flow of information from the three locations by establishing an effective method of recording all of the data and feeding the database. This could prove to be cost-effective considering the expense associated with the development of a customized software. However, some modifications may be required for an industry-specific software in order to suit the company’s demands. The idea is to integrate the three subsidiaries and create a better way of obtaining information and storing data.
The system may require a modification to how employee hours are recorded according to the software’s specifications. The process will should remain similar to Kudler’s Fine Foods existing procedure requiring the need to store personal information such as exemptions and other personal data for taxing purposes. The system will maintain employee records and any update made to those records. The employee personnel responsible for administrating payroll
Kudler Fine Foods uses a biometric time system which requires the usage of time clocks to monitor the time employees engaged in work responsibilities. The method requires the use of a finger touch pad to identify the numerous time punches made by the employee. The employees information is entered upon hired into the company’s payroll system. Based on the numerous time punches made, the organization evaluates the employees work hours and computes the employees salary. The computation for employee salary includes “regular time, overtime time, bonuses, holiday pay, vacation pay, etc.” and both federal and state deductions as well as other government deductions and individual benefit deductions such as 401(k) contributions to the employee’s salary (Apollo Group Inc., 2013).
Although, this is an effective method to monitor employee work hours and compete payroll, the company’s current system is not directly linked amongst the three operating subsidiaries. The purchase of an industry-specific software can help integrate the flow of information from the three locations by establishing an effective method of recording all of the data and feeding the database. This could prove to be cost-effective considering the expense associated with the development of a customized software. However, some modifications may be required for an industry-specific software in order to suit the company’s demands. The idea is to integrate the three subsidiaries and create a better way of obtaining information and storing data.
The system may require a modification to how employee hours are recorded according to the software’s specifications. The process will should remain similar to Kudler’s Fine Foods existing procedure requiring the need to store personal information such as exemptions and other personal data for taxing purposes. The system will maintain employee records and any update made to those records. The employee personnel responsible for administrating payroll
References: Apollo Group Inc., (2007, 2010, 2011, 2013). Kudler Fine Foods. Finance & Accounting; Accounting System Overview. Retrieved on February 11, 2013 from the University of Phoenix.