Payroll system Essay Sample
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Payroll system Essay Sample
Nowadays some company using a Computerized Payroll System so that they can work much easier. All establishment are becoming modernized, they use modern technologies to make their transaction fast, easy, and accurate in order to avoid waste of time and for the sake of safety and security. Payroll is one of the difficult work things to do, because they are the one handling the reporting, salary for the employee, wages, bonuses, deduction and depositing payroll taxes to the appropriate agency in an accurate and timely manner is vital to the businesses. Late and inaccurate deposits may result in penalties and interest charges.
A Computerized Payroll System will not only provide accurate calculation and fast process of Payroll transaction but it also secure data through security implementation and accordingly arrange files provided by a well-designed database that will produce a paperless environment. The advantages of a Computerized Payroll System improve accuracy and minimize errors because most computations are done by a system.
Polytechnic University of the Philippines is a government educational institution governed. They are using manual process on their Payroll System.
1.1Background of the Study
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 compensation due each pay period. The advantage of using a manual system is that it is very inexpensive, with virtually no start- up costs. The disadvantage is that whatever you save on start-up costs will probably be eaten up by the amount of time it takes to process payroll.
In addition, it’s very easy to make mistakes when processing payroll manually, and the penalty for mistakes, especially mistakes in taxing, can be very costly. There are at least free payroll templates out there, but it still difficult to do manual payroll processing. The study is located at Humil International Corporation branch on Sta. Mesa, Manila has a dedicated manual Payroll Branch within the Financial Services Unit that is responsible for the payment of salaries and wages, and the management of related functions. It provides a centralized, consistent approach to the management and processing of all Payroll related transactions for the duration of a staff member’s employment with Humil. 1.2Statement of the Problem
This study aims to analyze the types and able to know the benefits of the employee through this kind of system. Specific Question
1.What types of payroll systems are available?
2.What are the benefits and weakness of payroll system?
3.What are the advantages and disadvantages of payroll system?
1.3Objective of the Study
-The study aims to make a computerized payroll.
-The study aims to make the transaction easier.
1.4Significance of the Study
The study of Payroll System is significant to both employers and employees because it saves Time. Payroll processing is a time-consuming and detailed task. Most companies pay on a weekly, biweekly, semi-monthly, or monthly pay cycle. Before the checks are printed, hourly wages must be entered into the system and benefits or deductions must be calculated. Whether you are using a manual, computerized or external payroll system it is useful. In the case of a manual system, checks are typed on a typewriter or are handwritten. Many companies offer direct deposit, which transmits employees pay directly into their bank accounts.
This study is beneficial because employers cannot process its payroll without a payroll system. The latter is the channel that enables the former to generate paychecks and comply with payroll laws. The employer can choose whichever system it favors, but it must be efficient to ensure accurate and timely paychecks. Therefore, the employer must assess its needs, such as the size of its payroll; and options it will offer, such as direct deposit, before choosing a payroll system. For students, the study of Payroll System is also helpful because it gives knowledge on how payroll is being processed. So that students will become familiar in Payroll System, for future use. 1.5Scope and Limitation
The System is designed for the enhancement or development of Computerized Payroll System for Q Works Construction. It includes the features that can Add Employees record, Edit Employees Information, Delete Employees record, print / Save the Pay Slip of each employee and Updating Employees information as well as the Weekly Salary, Cash advance, the rate per day, overtime, Gross Payment, Net pay, and Deduction such as withholding tax and SSS, adding up with a log-in log-out process for security purpose. Moreover, with help file can be used by the users to know how to use the payroll software. Limitations:
On the other hand, this study limits only to the proposed enhancement Computerized Payroll System of the Q Works. A proposed system which can only be access by authorized person. It does not support network topology implementation, online program or online transaction.