Computerized payroll systems include complete employee information including loans, pay structures, reimbursements, salary slip generation and income tax management. Since everything is computerized, it is easy to handle calculations and manage printing activities.
Overtime. Shift allowances, commission, salary, medical aid, provident/pension fund etc.
It shows them where the company is financially, as well it shows them labor costs, and gives them the numbers to work with in analyzing company policies and procedures.
Since neither machines nor humans can make sure that payrolls are accurate every time, one does come across annoyed employees. If such an event occurs and I discover that the fault is at my end, I always apologize and make arrangements to correct the error immediately.
If you choose something from accounting, please choose an example when you were able to correct the mistake at the end. Mistakes can prove costly, but we are only human beings. We make mistakes.
Retroactive pay is a delayed wage payment for work already performed at a lower wage rate. It is distinguished from back pay.
I have prepared Time Labour Entry Audit reports that reflect Job codes, wages, Gl accounts, time repoting codes, rates.
An employee that will not follow company policy. Does not read company handbook. Think that all companies have same benefits.
Pay slip is a slip that contains all details of the employees like total wages, deduction details, tax cuttings and the like. While a paycheck is a certification that the employee has earned a certain amount and can cash it form the bank.