Payroll System
Essay Preview: Payroll System
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Abstract
This research is aimed to replace 1238 builders obsolete system that uses up a decent amount of files and time which makes it inefficient. In computing the payroll for employees with an automated payroll system, human error can be avoided which saves time and resources. An automated payroll system which will compute employees work contribution (including PAG-IBIG/SSS and PHILHEALTH), record and store basic employee information, update employee information, and store and tally attendance records.
Basically, the purpose of the said automated payroll system is to keep track of everything that has to do with the payment of employees and the filling of employment taxes. This includes keeping track of hours, calculating wages, withholding taxes and other deductions, printing and delivering checks.
Chapter 1
THE PROBLEM AND ITS BACKGROUND
Introduction
Today, people tend to rely on technology because it has the ability to make shortcuts in a daily basis and makes tasks easier to do. Examples are government business, billing system of a company, payment in checks, ordering online and many more. Nowadays, people enjoy their lives through the advancement of technology. For instance, researching by using Google, downloading games, social networking like Facebook and Twitter also transactions through their corresponding homes is a possibility now. Because of technology, people are given endless possibilities and opportunities for the future.
There are different types of payroll system, it could be manual, in-house computerized or outsourced, external and etc. With a manual system the employer encodes the payroll data entirely by hand. To reduce the risk of errors, the employer should only consider this only if it has a few employees. The disadvantage of a manual system is that it is a laborious work and it is prone to errors. On the other hand, a manual payroll system is inexpensive but it takes time to finish the job. Nowadays, companies should cope up and use the advantages of the modern technology and consider having an automated system.