Background of the Study
Computers have the great impact on the profession of accounting. With the rapid growth of technology today, there is no doubt that computer will become a common asset in all profession. As computer technology changes at such fast phase, many businesses sectors try to cope up by upgrading computer system constantly in order to stay competitive. The multi-function ability of technology for its advance system is also an important factor for a company to use software.
As our project the payroll system is one of the software that the professional is develop, thesystem is good for its specialty in the fields of accounting, it is easy to use and effective and efficient in organizing and calculating the payroll process and it is more important application that should be used by businesses of any size. Payroll systems are very simple to use, they can easily be incorporated into any business applications being used by the company. These systems are a guaranteed way to make sure your payroll is done on time and in agreement with all taxing authorities. Tax laws and rates have continually changed in recent years, new tax credits, expiration of old credits and rate changes can all affect the outcome of your payroll.
These systems can be programmed to calculate taxes and deductions to your specific area. Most systems have an internet database that can be accessed for updates to tax codes and changes in the law. These systems also can help the business owner calculate the amount of taxes they be obligated the government at the end of each quarter. Failure to submit the correct taxes each quarter is the number one reason that business owners find themselves in trouble with the Internal Revenue Service.
Many companies specialize in providing payroll systems to other businesses. If you are not ready to install and use a system like this in your own company, you may consider going to this type of business to...
Please join StudyMode to read the full document