Essay On Payroll System

There is no documentation of any payroll processes or procedures. The absence of documented procedures can cause confusion, inefficiencies, and may result in failure to meet deadlines not only within the payroll department but also for other area of the organizations that require information from the payroll department.

CHAPTER 7 Transaction No. 11 |FEDERAL DEPOSIT INFORMATION WORKSHEET | | | | |Employer | | |Identification Number 31-0450660 |Name Glo-Brite Paint Company | |Month Tax Year Ends 12 |Amount of Deposit 6443.08 | |Type of Tax (Form) 941

Employee Benefits, Towers Watson, 2010. Flexible Benefits: Research 2010. [internet]. Available at: http://www.employeebenefits.co.uk/item/10061/23/5/3 [last accessed 25th November 2010]

Difficulty in managing and recording of information on work schedule, hours worked units of pay, deductions and leave of absences, distribution of exact amount of wages and salaries in manual payroll

Some providers of outsourcing may be providing the same service for several companies at the same time. Due to this, they will not be able to provide 100% of their attention to any of these companies and their quality may not be up to par. This can reflect negatively on the company as the customer calling may not be aware that the call center is being run by an outside source and they may directly relate it to the company. So unless the service being provided is truly top notch, it may prove to be less beneficial to the parent company than expected.

There are several advantages of using Cloud Computing, for example: “To begin, businesses can have lower cost computers for users.” Alijabre explains that cloud computing can be very beneficial for the businesses. Moreover, businesses will bring great amount of profit into their company, and it will be easy to use it. Alijabres goes on to provide several examples why cloud computing is better. One of of the most important reason why companies are moving towards cloud computing is the lower cost of the system. “To begin, businesses can have lower cost computers for users.” He explains that small business will not need computers that are high performance based. Business can get less expensive computers and store all of their data online instantly, without having them to worry about the space in a

Required payroll deductions are those essential by law, and voluntary deductions are not legitimately required. A worker's gross pay is different in relation to their net pay because of the derivations subtracted. Four required deductions usually withheld from a worker check are Government withholdings, State tax, FICA duties and wage garnishments. Other conceivable intentional deductions are medical coverage, life insurance premiums, retirement, adaptable spending account, union levy. Intentional derivations are those that you offer and your employee acknowledge. Intentional findings are made on a pretax or after-assess premise.

Mid-term exam, chapters 1-4 Please record your answer in the space to the right of the question (under “Answers”) or in the appropriate blanks provided (in the problems). Once you complete the answers, please submit the exam as an attachment. 150 points

In my current position I have built and maintained relationships with staff and team members. As the Payroll Officer, many staff members come and ask me questions in relation to their pay.

Dittman's Variety Store is completing the accounting process for the year just ended, December 31, 2011. The transactions during 2011 have been journalized and posted. The following data with respect to adjusting entries are available:

Cloud computing offer services that are available wherever the end user might be located. Telecommuting is becoming a popular option that employers are offering and cloud computing makes it an even better idea to implement knowing that the data is stored in a secure location. No matter where you are in the world, you can access your cloud based applications. This is also another way for businesses to save money in their budget as not all the employees are required to be in the office, so they do not need as much space or such a large building to accommodate all their employees. This allows businesses to save on rent, utility bills and office equipment.

Outsourcing has become an integral part of many organizations today. Outsourcing has its advantages and disadvantages that organizations will have to weigh to decide whether or not outsourcing is the best possible solution to their current problems and business operations. Outsourcing refers to the process of hiring external provider to operate on a business or organization function (Venture Outsource, 2012). In this case, two organizations or businesses enter a contract where there will be an exchange of services and payments. This paper will discuss the possible risks an organization may encounter in outsourcing in relation to the use of an external service

Because of the above situations and more we advise that you consider payroll financing solutions. Payroll financing solutions, like receivables insurance and preemptive credit checks on potential clients, you can be proactive about keeping your employment agency profit margins in check.

The use of an enterprise service provider for processing information systems applications such as payroll, human resources, or sales order taking is another excellent way for organizations to minimize cost while still experience the full benefit of an IT system. It is worth noting that while this is very cost effective and significantly reduces the load on an organization, outsourcing an organization's IT applications to an enterprise service provider for processing is a risky path to thread. Information privacy and integrity are at a very great risk here. An enterprise service provider or employers of the provider are capable of selling out the customers, employees and sales information of one organization to another. Employees of the Service providers could also include their name (create false employees) among the names of legitimate employees of the outsourced organization and masquerade as one of the real employees and receive pay every pay period. These and other privacy and integrity concern must be taken into serious consideration by organization outsourcing interested in outsourcing to an enterprise service

Construct a Cost -Benefit Analysis matrix for an organization that is considering replacing its internal payroll system with a payroll outsourcing service. Include direct and indirect revenue enhancements and direct and indirect cost reductions. A cost benefit analysis is an analysis of change in the cost-benefit ratio; a comparison of current existing circumstances with new conditions that are projected to exist after the HRIS investment (Carlson & Kavanagh, 2012, p. 185). It provides the most comprehensive monetary measures of the positive and negative consequences of a possible internal payroll system if done correctly. With a payroll outsourcing service, it is important to determine the risks and incentives of decision actions. The chart below displays a Cost-Benefit matrix for an organization that is considering replacing its internal payroll system with a payroll outsourcing service.