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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

The chapter mentions that companies frequently outsource the payroll function. Using the Internet, locate at least one company that provides payroll services and a software package (or module of an enterprise system) that may be used for in-house payroll processing. Write a paper on the positive and negative aspects of in-house versus outsourced payroll processing. (The length of the paper is at the discretion of your instructor.)

Summary Introduction

To list: The positive and negative aspects of in-house versus outsourced payroll processing.

Introduction:

Human resource (HR) management and Payroll process:

Human resource management is about the basic human management functions in an organization and its associated activities. It also speaks about the relationship between human resource management activities and the payroll process. It also depicts the importance of HR activities in the decision making of the top management.

Explanation

The positive and negative aspects of in-house versus outsourced payroll processing:

In-house payroll processing:

Pros:

  • It is best when the company is small or medium sized.
  • It provides easy and quick access to the payroll history and associated data.
  • It safeguards the privacy features.
  • Maintaining the payroll in-house can give new ideas where the company can reduce payroll costs and lower the tax liability.

Cons:

  • The company has to buy a licensed software if the company is relatively big like more than 10 employees.
  • The company needs to purchase some hardware and software to carry out the accounting process and also train them.
  • The company must be aware of the recent changes in the personnel and tax guidelines.
  • A single accountant handling all the accounting activities of the firm can lead to scams, fraud and other illegal activities...

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