Computerized Payroll System
Chapter 1
INTRODUCTION
Technological advances in the past few decades have greatly increased the competitive nature of the economic business world. Companies have used software, computers and the Internet to transform their businesses from local places of business to national and global market competitors. Many companies have responded to these changes by automating their business processes and capturing industry-related information and using it to their advantage. Technology has also forced businesses to remain flexible, adapting their operations to newer and better technological advances.
Payroll system 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. Because money was involved company convert their payroll into a computerized to provide accurate result and to finish the work in no time. The manager is not aware of the time of admission of the employee because of this, the manager can’t compute accurately of what time the employee enter. Therefore it is necessary to have an automated timekeeping system.
Today's automated timekeeping technology is a powerful resource for businesses, both large and small. It is designed to offer exceptional convenience, and to substantially improve profit margins by reducing the cost of labour. Many companies that are considering an automated timekeeping system are motivated primarily by the convenience it provides. However, what is often overlooked is exactly how much companies save by tracking their employees with an automated solution. An integrated and automated timekeeping approach will not only pay for itself year-after-year, but will also return immense savings.
It is therefore a great advantage if the proposed computerized payroll system with automated timekeeping is applied. It would greatly help the manager to monitor his employee if there are
INTRODUCTION
Technological advances in the past few decades have greatly increased the competitive nature of the economic business world. Companies have used software, computers and the Internet to transform their businesses from local places of business to national and global market competitors. Many companies have responded to these changes by automating their business processes and capturing industry-related information and using it to their advantage. Technology has also forced businesses to remain flexible, adapting their operations to newer and better technological advances.
Payroll system 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. Because money was involved company convert their payroll into a computerized to provide accurate result and to finish the work in no time. The manager is not aware of the time of admission of the employee because of this, the manager can’t compute accurately of what time the employee enter. Therefore it is necessary to have an automated timekeeping system.
Today's automated timekeeping technology is a powerful resource for businesses, both large and small. It is designed to offer exceptional convenience, and to substantially improve profit margins by reducing the cost of labour. Many companies that are considering an automated timekeeping system are motivated primarily by the convenience it provides. However, what is often overlooked is exactly how much companies save by tracking their employees with an automated solution. An integrated and automated timekeeping approach will not only pay for itself year-after-year, but will also return immense savings.
It is therefore a great advantage if the proposed computerized payroll system with automated timekeeping is applied. It would greatly help the manager to monitor his employee if there are