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Introduction Payroll System is the heart of any Human Resources System of an Organization. The solution has to take care of calculation of salary as per rules of the Company. This Payroll System is a full-featured system that manages financial information of every employee in an organization. It computes and processes the payroll in the certain payroll period. This Payroll System is also a flexible compensation administration solution.
It is designed to help human resource professionals as well as finance and accounting personnel to manage employee compensation, deductions, allowances, and benefits in an organization. The system is integrated with the Employee’s information, offers efficient features and functionalities to manage company’s expenses. Overview of Payroll System. The payroll system keeps accurate employee data stored in an easily accessible database. The system has the ability to update and maintain employee information and to generate required outputs including paychecks, reports to management .
This data is used to update the employee master file with appropriate additions, changes and deletions and to generate required output in form of reports. The PAYROLL SYSTEM is used to maintain a list of employees names, addresses and employment information and is used to interactively calculate and print payroll checks and salary . The Payroll System is designed to produce payroll checks with appropriate with holdings, benefits, allowances, and deductions for employees in multiple companies, departments, and/or sub-departments.
In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time OBJECTIVES in particular,Payroll Management System is being developed. This would comprise the features that can beoperated easily. Payroll Management System would take care of the day to day Attendance of All Employee. It covers ctivities from keeping the details of day to day In, Out, OD etc. The master and transaction activities are divided in modules so that the activities can be operated easily. The regular backup to the data can be taken and the backup data can be restore deffectively. So, the Payroll Management System assists the employees of Company in each and every aspect of In and Out. The Payroll Management System is customized software and developed according to the needs of Any Type Company Objectives
There are multiple objectives behind the designing and implementation of the Module: 1- To prepare the detailed salary record of all the employees in an organization 2-To generate Pay-In-Slip through the calculation of salary 3- Proper usage of manpower 4- To maintain Allowances, Deductions, Loans, Savings and Arrears details for the employees 5- To generate reports in user-defined formats 6- To generate various important reports that provides valuable information to the top-level management 7-reduce the time and effort used in manual work