Wednesday, 14 June 2017

Payroll management

Payroll is a kind of payment. Payroll solution or Payroll management system is the process which employers pay an employee for the work they have completed. Small size or large size any business with employees should have a payroll established.
Handling payroll typically involves sending out payslips to employees.
A payroll is a company's list of its employees, but the term is commonly used to refer to:

  • The total amount of money that a company pays to its employees
  • A company's records of its employees' salaries and wages, bonuses, and withheld taxes
  • The company's department that calculates and pays these.

The payroll management system deals with the financial aspects of employee's salary, deductions and allowances, gross pay and net pay etc. and generation of pay-slips for any specific period.
Our Pay Master software is very useful in payroll solution because payroll department is critical because employees are sensitive to payroll errors and irregularities. They requires payroll to be paid timely and accurately. The first mission of the payroll department is to ensure that all employees are paid accurately & timely with correct withholding's and deductions.



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