Most
organizations do payroll on a computer although the smallest companies can pay
their employees with a manual payroll system. A computerized payroll system
automatically calculates and prints paychecks based on a variety of taxes,
rates and deductions. Companies can choose to outsource or have an in-house
system.
Human Resources Interface:
Systematized payroll system
software typically shares data with a human resources system. It helps the
company in handling benefits packages, performance reviews, government labor
reporting requirements and other management issues. By sharing the same
employee database between the two software systems helps in keeping information
consistent and minimizes data entry labor.
Software Programs:
A computerized payroll system is
composed of a set of software suites. The programs have various screens into
which managers enter employee data; other programs calculate payroll and
produce reports. The program algorithms take the input data, such as hours
worked and pay rates, and compute the gross and net pay amounts. Cloud Payroll Software typically also has a
password-based security to restrict access to confidential information.
Database:
The database is a set of structured
files containing employee records, commissions, time worked, and other related
information. The Payroll Software interacts
with an underlying database. When the software makes checks or direct-deposit
transactions it adds histories to a payment table in the database. The database
also contains security features to prevent snooping and spying by malicious
users.
Reports and Forms:
Software in the payroll system makes
a various reports for management, such as hours worked, total payroll outlays
by week and month and lists of employees according to non-exempt, exempt, union
and other classifications. In addition to printing checks, the system
calculates employee taxes at the end of the year.
Outsourcing:
It means paying a service bureau to
handle payroll. By doing so, a company saves the expense of doing it itself.
Some organizations prefer to develop their own accounting systems. The service
bureau has the responsibility of getting tax forms and checks out on time; the
client company provides the time sheet data and receives the reports.
PeopleQlik offers most accurate and
reliable Payroll Software.
The HR department of a company has to face the challenging tasks of putting
together many inputs, observing legal requirements and data analysis to pay
their employees accurately and in time.
PeopleQlik’s Payroll and HR Software streamlines your
payroll procedures and empowers your HR team to deal efficiently with these
challenges.
