Payroll Management Process
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Transcript of Payroll Management Process
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Manual System The traditional payroll system which involves pen and ink, adding machine, spreadsheet, etc. instead of a
computer software and other computerized aids. The process is tedious, time consuming and risky as it is more prone to errors.
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Payroll Software
An automated software that performs every action needed by the payroll process. It helps in calculating the payable amounts and deductions, and generating the pay slips. Automated calcula- tions result in no errors. Data is validated automatically by the software.
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Payroll Outsourcing
This involves a third party (an outsourcing company) in the calculations of salaries and deductions. If there is more number of employees (say more than 900-1000) in the
organization, payroll outsourcing would be very much beneficial.
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References:• http
://www.entrepreneur.com.ph/startup-tips/how-to-set-up-a-payroll-system/page/2?
• http://www.naukrihub.com/payroll/payroll-management/payroll-management-process.html