Problem Statement The study specifically seeks to answer the following problems in manual payroll process: • Speed in processing payroll tends to be slow. • Prone to mathematical errors that could consume much time than it should and could cause financial or legal trouble. • Tallying of time cards is done manually. • Time consuming in double checking the consistency of all the reports. • Difficult and time consuming in keeping up-to-date in taxes and other deductions.
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1.1 Abstract This study is conducted in order to make the payroll system‚ improve their services and make their works easy and fast. This Company is newly beginning its started on October‚ 2012. Their equipment is already not complete. The proposed system will help the employee or employer of the company to develop the capability of their services of pay rolling. And to avoid delayed pay rolling to their employees. 1.2 Statement of the Problem 1.3.1 General Problem * They
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What is Payroll? The term ’payroll’ encompasses every employee of a company who receives a regular wage or other compensation. Some employees may be paid a steady salary while others are paid for hours worked or the number of items produced. All of these different payment methods are calculated by a payroll specialist and the appropriate paychecks are issued. Companies often use objective measuring tools such as timecards or timesheets completed by supervisors to determine the total amount of payroll
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the nature of work; fair and timely compensation for a job well done. Payroll‚ at its most basic‚ is the process by which an employer pays an employee for work performed. If you own a business‚ but don’t have any employees‚ then you don’t have to worry about payroll. But as soon as you hire your first worker‚ you have a responsibility to pay that employee on time and the correct amount. If employers fail in their payroll duties‚ their workers will be less motivated to fulfill their end of the
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currently most of the core business functions in companies are shiftedby outsourcing‚ such as Finance function‚ IT function‚ and HR function. In several instances‚companies hire a third party to perform and maintain their IT system and contract accountingfirms to support their finance system. According to Caruth‚ outsourcing is defined ascontracting the third party outside the company to perform the function that previouslyperforms in-house (2008).The increase of the outsourcing practices in many firms over
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more finished system. I can include a systems flow chart or some other means of showing the relationships‚ I can also document the input‚ output‚ database/files‚ and programs that make up the system. People have their own favorite way of doing this. This is just one possible way of doing it. Your textbook discusses other techniques that you may prefer. Overview of Payroll System The payroll system keeps accurate employee data stored in an easily accessible database. The system has the ability
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CHAPTER I: A. INTRODUCTION The GA&P TEC requested a system that will help them in their daily record. They request us to do a payroll system with time management for their company. They make a choice for time management because they only use time card and a bundy clock for their in and out. The scope of this investigation is define both the current and the future workflow needs of their department. Upon completion of the preliminary investigation: GA&P TEC will provide department with
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1.What types of payroll systems are available? There are three basic types of payroll systems. Manual payroll means that you‚ or another employee within your company‚ calculates the payroll each pay period entirely on paper. You will need to calculate taxes‚ insurance‚ 401K‚ and any other applicable deductions in addition to each employee’s actual earnings. The advantage of using a manual system is that it is very inexpensive‚ with virtually no start-up costs. The disadvantage is that whatever
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“DEVELOPMENT OF PAYROLL SYSTEM” A Thesis Presented To: Ms. Lorna T. Magalpoc By: John Mark P. Jalbuena Contents: Title: Development of Payroll System Proponents: John Mark P. Jalbuena School: Saint John Bosco I.A.S. Date: 11/17/13 Course: Information Technology Adviser: Ms. Lorna T. Magalpoc Introduction: Payroll consists of the process by which a business pays its employees for work performed during a specific period. A payroll system
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1.1 ABSTRACT Payroll System is the heart of any human resource system of an organization. The solution has to take care of the calculation of salary as per rules of the company‚ Income-Tax calculation and various deductions to be done from salary including statutory deductions like income-tax and provident fund deductions. Payroll can be classified into two (2) namely: Manual System and the Computer based system. In this study we used to developed computer based “Payroll System” to improve a faster
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