1.

Maintain a Labor Detail Record on the number of hours worked and the types of
work done by hourly employees during a payroll period, as well as the associated
general ledger account distribution information for labor expense.
2. Calculate gross pay for hourly employees based upon the hours worked including
overtime, if any. The gross pay for salaried employees is predefined for each
payroll period in the Employee Master Record.
3. Automatically calculate required federal and state payroll taxes, such as income
tax withholding, Medicare, FICA and unemployment tax, for both employees and
employer and store the results in a Payroll Period Record for each pay period.
4. Print payroll checks with stubs on preprinted forms showing current period and
year-to-date (YTD) dollar earnings and deductions. These same multi-purpose
check forms can be used by the Accounts Payable System. Pay checks can be
printed for a single employee or for a specified group of employees.
5. Print payroll reports, such as Labor Edit Report, Hours Distribution Report and
Payroll Register, to provide an audit trail of data entered into the system so that
adequate audit control is maintained.
6. Print generalized payroll reports with the capability to extract specific payroll
information from the online database, such as "List the total FICA withheld this
quarter for each employee".
7. Print the Payroll Posting Report summarizing general ledger posting information
by ledger account for either manual or automatic posting to the GL System
(PR09). Either the accrual or cash accounting method is supported.
8. Print annual IRS W-2 forms and W-3 transmittal totals for each employee paid
during the year.
9. Enable the user to change the federal and state tax rates used in calculating payroll
withholding and deductions by storing payroll tax rates in Payroll Rates Records
(PR14).
10. Provide reporting capability by location (or department) and job code (order
number). Location and job codes used by this system should be consistent with
the location codes used by other modules within the company.
11. Provide online inquiry capability to (1) display all data elements on a single
employee, and (2) display all hours and dollar amounts associated with payroll
earnings and deductions for an employee.
12. Define an Active-Flag to prohibit current online entry of an inactive employee yet
keep that code for historical reporting purposes.
13. Maintain vacation balance (hours available) per employee and automatically
calculate vacation earned hours per payroll period based upon hours worked
(System-Option-28).
14. Automatically assign voucher numbers to each labor transaction for positive
control and audit trail. This payroll system feature can be overridden by the
setting of System-Option-16 (DB03).
15. Automatically code expense accounts to a labor detail entry based upon standard
expense codes setup for that employee to reduce clerical coding errors. This
payroll system objective minimizes the clerical data entry workload.
16. Maintain a Employee Master Record for each employee that will be receiving
computer-printed payroll checks. Information in the Employee Master Record
 includes name, address, marital status, hourly salary, voluntary deductions, labor
distribution account codes and other information affecting payroll.
17. Provide source document control over input transactions to the computer by
establishing batch numbers.
18. Provide the capability to create custom PR reports where the user defines the data
fields to be selected and printed (DB12).
19. Automatically display a detail record (Employee Master Record or Labor Detail
Record) when function key F7 is pressed while in data entry procedure PR01 and
in inquiry procedure PR10. This payroll system objective enables the operator to
quickly drill down to more information.
20. Handle any fiscal year for accounting purposes, even one different from the
calendar year, through the use of a separate accounting period number (YRMO).
21. Verify state code and ZIP code (first 3 digits) associated with an employee
address. The Canadian province code is validated when the ZIP code is not
numeric.
22. Automatic employee number assignment whenever the employee name initials
are entered as the employee number. Employee initials are manually or
automatically set in the Employee Master Record.
23. Print quarterly and annual employer reports, including IRS 940 and IRS 941. The
California DE-3 form can be printed.
24. Provide system options in the Company Control Record to handle 6-digit or 8-
digit dates for Y2K compliance.

Significant of the study

Payroll plays an important role in the company for several reasons because it keeps the
records of the employee salary, bonuses, and increments, etc. Every employee in any
country wait for their salary and the companies provide the payroll slips, which include
the detail information related to the income of the employee. Every country announces
the budget once a year the government employee is much interested in getting the payroll
slips to know how much government decide to increase in the salaries.

The software plays an important role for the company in getting rid of the work burden.
Many small businesses prefer to the payroll software to keep all information about its
employee.

The software provides the company the full records of the employee salaries, and they
also deduct the national tax income, and the employee easily check their payroll by using
the website of the organization and employee easily print their payroll slips from there or
either they can register to complain against payroll in the website.

There are many payroll agencies provide you the services. They offer the option for
managing the employer's tax payments assisting with the tax compliance and labor crisis
as well. There are varieties of computerized payroll service agencies makes frauds and
theft of the funds so is aware of know that the service agency has a well reputation or not.

Payroll's work needs the management. Payroll's management includes the payroll
accounting and payroll administration. The payroll accounting department work is to
calculate the earnings of the employees, and the payroll administration deals with
managing employee personnel and payroll information.

There are many companies which also provide the payroll system to solve the problems
which fulfill the needs of the organization environment of all types of the industries and
flexible preparation cycle with complete security.

Article Source: http://EzineArticles.com/5167168

The Importance Of Online Payroll Systems

The payroll system is often the most reorganized aspect of the financial record for most
businesses. Even small firms can cope with an excellent payroll system by hiring
processing sites at this time. Here are a number of thoughts on the importance of online
payroll services.

Most of the time, there are some alterations to the payroll because there are some
employees being promoted, there are newly open jobs and there are even deductions to
other employees. This is part of an economic record is always filled with many questions,
such as base salary, benefits, medical, house rent and other benefits, deductions, workers
compensation, not to mention the tax. Undersized businesses are often unable to find the
time or capital to monitor the entire payroll, which leads directly to a lack of motivation.
The answer to this problem takes the form of company services online payroll.

Online systems are remarkable for a lot of reasons, initially from the beginning. Your
input is much more precise application of the law in different legal requirements that are
often overlooked by record-keeping at home. This way of rationalizing the work done
more efficiently and in a way or make both employees and the organization content.

Modernization, discovering and experience are not effortlessly replaced, but if you can
include the similar level of reporting, since some fixed costs massive amount of cash on
custom software, so there is no reason not to start using online payroll.

There are diverse structures that are often used for data entry; it is the same as any
activity so your company can be to have the equal degree of accuracy in the payroll.
Online payroll system is fully equipped with management alterations such as holiday
calculations, deductions, where appropriate, and very useful to convert a registration to
report in seconds.
There are often a case where the employee is on a new statute comes into force on
different dates, then leave the whole file and adjust thereafter. This can be adjusted quite
effectively with no trouble in the online payroll system.

Posted by subbarao at 11:03 PM 1 comments

Steps Required to Set Up a Small Business Payroll System

Setting up payroll when you run a small business does not have to be a complicated and
frustrating task. If you break the larger process down into manageable steps it can run as
smoothly as possible and can be as efficient as you need it to be. You want to ensure that
every employee receives their paycheck and that your business will be ready when it
comes time to file your taxes.

The first step is to get a federal identification number from the Internal Revenue Service
as well as a state identification number from the state revenue department. You can
obtain the former by going to the website. When you contact the state revenue
department you need to get a hold of a copy of IRS Circular E, as well as Publication 15-
A. You also need to obtain a payroll tax publication from the state your business is in.

The next step is to get your workers to fill out enrollment forms. Form W-4 must be filled
out for federal taxes while there is another form for state taxes that also must be filled
out.

The third step in setting up payroll in a small business is to figure out what the pay period
will be for your employees. As the employer you can choose whatever pay schedule suits
you best based on what is most productive and most profitable for your company. The
most common models for pay periods include weekly, bi-weekly, semi-monthly or
monthly.

Once you have decided which one of the pay schedules works best for you then you need
to check with your state revenue department and the IRS for the appropriate rates and
withholding tables. If you are thinking about paying your employees on a monthly basis
then be aware that some states deem it a requirement to pay employees more often that
that. When it doubt take the time to find out!

The next step you need to observe in setting up a payroll system are to figure out what the
company policy will be in regards to vacation days and sick days. You then need to
follow that up with a decision about overtime and bonuses. There are rules and
regulations that govern the paying of overtime so make sure you check with your state
before you make your employees aware of the policy regarding such.

The step you need to take after that is to decide what benefits you will offer to your
employees. Examples of these include health insurance and a retirement plan. Benefits
are an excellent way to entice new employees to your company. The benefits to your
employees will be paid by way of payroll withholding.
You then need to calculate the withholding. You may wish to purchase a software
program for this or to do to by hand using the printed tables from the state revenue
department and the tables in IRS Circular E.

Making the required tax deposit is the next step which is imperative for the proper
functioning of your business. All of the taxes and benefits that have been withheld from
your workers then must be paid to both the government as well as the providers of those
benefits. From there the final step is to prepare the tax returns for your payroll and file the
taxes.

Posted by subbarao at 11:02 PM 0 comments

Benefits of Award Interpretation Software to a Payroll System

From manual to automated, payroll system, has been an integral part of any business
throughout the years. Its purpose is not only to calculate the salary of every employee
based from the timesheet and income taxes but also to give a quick overview of the
company's productivity rate based from the employees' working hours.

Implementing a payroll system in your company is not that hard as you would think but
it's a bit time consuming such as hardware configurations, network set-up, training of
accountants and finally some discussions with the staff. There are also factors to consider
aside from computation of income taxes, application of business pay rules such as
bonuses, loadings, penalties and other specific rules that should be coupled with the
timesheet. This is where award interpretation comes into the picture.

Award interpretation is a special feature of time and attendance software that translate the
employees' working hours from an electronic time clock into a more intensive set of
information applying the company's rules. If the company has already a payroll system,
time and attendance system will simply generate export files that can be imported to the
payroll system.

Although there are a lot of advantages an award interpretation can provide, it is generally
not considered a significant business structure that you think. The internet has many
valuable resources to offer that can help you with all application processes and allows
you to make the best use of these resources and represents an ideal and cost effective
payroll system.

And if you are one of those businessmen who are quite hesitant to consider a time and
attendance software that provides award interpretation to the payroll system. These 3
main benefits might change your mind.

1. It provides accurate data. Accuracy is crucial to the payroll system; issues may
surface up if computation of the employee's wage combined with the business
rules is done manually. With the software's rigorous protocol, accuracy will never
be a question however; it also allows user intervention whenever necessary.
 2. It provides thorough process. This is where technicalities are put into action,
time and attendance software is compatible with all kinds of payroll system as
long as hardware components converse well with each other. Again, this is quite
painstaking if done manually or with the payroll system protocol alone.
3. It's fast and easy to use. Gone are the days where it takes the payroll department
the whole pay period to get the job done. Once award interpretation is
implemented, it will work by itself with just a click of a button. Time and
attendance software involves a lot of technicalities but its interface is simple and
easy to understand. Less time consume, less headaches to the payroll department.

In business, time is everything literally and figuratively. The company's growth depends
on time that's why proper management is very much important. And with this fast-paced
world that directly affects the business industry; technology is your last stronghold for
success. Remember, in today's world all you need for your business are in the tips of your
fingers.

Posted by subbarao at 11:02 PM 0 comments

Payroll Software Review - PayWindow 2006 Payroll System

ZPay Systems has been creating payroll software for over 20 years starting with ZPAY,
ZPAY 3 and now PayWindow 2006. This payroll software is easy to use especially if you
don't have any experience in accounting.

It is loaded with all of the features you could possibly need whether you are a small,
medium or large sized business. The reporting center is also feature rich with features
such as: Check printing, check register, wage reports for Month, Quarter and Year to
Date, Tax liability report, payroll history reports employee mailing labels, lists and pay
envelope labels, Direct Deposit for all employees, Unlimited Payroll Employees, and
accountants can have as many clients (company files) as your hard drive will hold. The
software is good for both Macintosh and PC's.

It is full featured payroll software that can be up and running in minutes and you can
finally stop paying for expensive annual upgrades to QuickPay (makers of QuickBooks).
Even if you've never upgraded your Quicken to QuickBooks you can easily make two
simple journal entries every month in Quicken; one for payroll and one for total payroll
taxes.

The cost of the software is surprisingly low at $69.95. I was a little concerned when I first
saw the price tag but it goes to show not EVERYTHING good has to come with a high
price tag.

ZPay Systems has been given two industry awards for their payroll software and one
people’s choice award. They offer several demo tours of the software that you can view
before purchasing and they also offer a FREE 30-day trial. They offer excellent product
support and have a wonderful tutorial section.
You can download the free trial here: [http://www.payroll-software-choices.com].

About the Author: Nancy McMillon evaluates payroll software. You can read more
payroll software reviews at [http://www.payroll-software-choices.com].

Posted by subbarao at 11:02 PM 0 comments

Having a Separate Payroll System - Good Or Bad Idea?

If you're running a business chances are that you run it on a computerised accounting
package such as MYOB, Quicken, Quickbooks or something similar. Now these
particular software companies have been clever here because you may notice that the
basic versions don't actually have a payroll module included, and you still have to pay
your employees, right? So now you need to purchase a separate payroll module.

But, what happens when you decide to shop elsewhere and see what other payroll
software can do? You might want a simple program "that just pays people" and you're not
worried about anything else. Or, what you're looking for is a complete HR suite that
tracks employee holiday / vacation time, staff training needs, provides details reporting
etc.

If you have selected a third parties payroll software, you now have to quickly establish
whether it's compatible with your current accounting software. If not, then you run the
risk of having to do manual journal entries to bring the data across into your general
ledger. This not only is time consuming, but increases the chance of human error
resulting in inaccurate information in your financial reports. This is not an ideal situation,
therefore you need to research each payroll product carefully and ask as many questions
as you feel necessary so you can be sure that your systems will "talk to each other"
without the need for human intervention.

When it comes to installing accounting systems, I've been there and done that and if I can
pass any advice on to you, it's that the more research and preparation you can do early on
the more likely the installation will run smoothly.

Posted by subbarao at 11:01 PM 0 comments

Outsourcing the Hosting of Your Payroll System - The Right Choice?

Whether you look at short-term economic trends or long term demographics, the payroll
profession has rarely faced such a challenging environment.

Tightening economic conditions are putting pressure on organisations to maximise

Due to increased demand and ever changing legislation, the outsourcing of Payroll and
HR functions are ever-increasing. Paying your staff correctly and on time is vital to
ensuring they remain productive and motivated. You can't afford to get it wrong!

Web-delivered software is becoming more and more popular and a clear choice if your
organisation wants to outsource but keep control in-house. By using intuitive software,
payroll departments can work with greater effectiveness and provide a better service to
employees, both with minimal change to existing operating procedures.

Payroll software can bring significant time and cost efficiencies, allowing your business
to focus its resources elsewhere. By using a fully integrated HR and Payroll software
solution, the organisation can produce statistics and meaningful reports that can be used
to improve the business.

Just recently, a new phenomenon known as a Hosted Bureau Service has entered the
payroll industry. This solution gives companies the best of both worlds and is ideal for
high-volume payroll processing. The Hosted Bureau Service enables companies to have
full access to a payroll system without the costs of purchasing it. The supplier hosts the
payroll system on a server and processes the payroll on behalf of the client. The client
retains all the benefits of an in-house system, enabling them to still analyse data from
their own office.

The Hosted Bureau Service is growing in popularity allowing Payroll departments to run
reports and obtain real time data but with the added benefit of minimal set up and up
front costs. Eradicating IT costs and internal IT support are good news for Managers who
can inherit systems that they are not always familiar with.

Further savings can be made by outsourcing the processing of the payroll data to the
supplier. Professional, qualified personnel, who are up-to-date with all the latest
legislation, and who look after a number of clients, are able to offer this service at a
reduced rate to the end user as well as providing fast turnaround times. Most payroll
outsourcing organisations offer a personal working relationship with their clients,
assigning a project manager who will provide guidance and reassurance every step of the
way.

Other benefits from using such a service include disaster recovery and the knowledge that
you will always have someone there attending to your payroll. This can provide peace of
mind that this important business function is always covered even when in-house staff are
absent due to sickness or annual leave.

Posted by subbarao at 11:01 PM 0 comments

Integrated HR and Payroll Software - Say Goodbye to Duplicate Entry of Data

If the time has come for your organisation to search for an HR and Payroll solution, and
you are looking for a system that is fully integrated, make sure you fully understand what
this really means. The word 'integrated' is very often confused with what should be
termed as a 'single database' or a 'unitary database.'

The HR and Payroll software market is becoming more and more complex. It is therefore
imperative for any organization looking for a new HR and Payroll system to find out if
what they are being offered is what they really want. For example if information must be
immediately available throughout the whole product, subject to security constraints, an
HR and Payroll software system with a single database is required. Be aware that
sometimes 'integrated' is not always 'integrated!'

Some companies offer an 'integrated package' but this does not mean necessarily that it
has a single database. What it usually means is that you then have to press a button to
transfer the data to another system, it is not done automatically. The only way it will be
done in real time is if you have a single database.

True integration involves the HR and Payroll department sharing a common database
source, ensuring that there is a free flow of data between both sides of the system. The
integrated system will give management greater control and much greater flexibility
within their departments.

Real time data transfer means that it does not matter who enters the information and that
it will be possible to view the data entered anywhere in the system. For example HR may
enter a new member of staff, this can then be immediately picked up by the payroll
department, and will be seen in real time. Only a true single database integrated system
will be able to do this.

If you are in doubt that your chosen HR and Payroll system is operating off a single
database, it is advisable to ask. If the supplier has a truly integrated solution with a single
database then they should be able to demonstrate this to you. Make sure 'integrated' is
what you are really going to get. It will pay off spending extra time checking that your
new system is exactly what you need and that you are getting the best solution for your
organization.

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