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Payroll.: Khadijah Puteri Zaidi Liyana Anis Atilia

This document provides an overview of the main business financial system of payroll. It describes the input, processing, and output aspects of a payroll system. The key points are: 1) Payroll systems involve inputting employee wages, bonuses, overtime, processing deductions and taxes, and outputting pay slips, payments to banks, and reports for tax purposes. 2) Processing calculates gross pay, implements deductions to calculate net pay, and makes payment through appropriate methods like checks, bank transfers, or cash. 3) Controls are in place for setting pay, recording wages, authorizing payments, reconciling totals, and segregating duties for accuracy. 4) Payroll is related to other systems

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Ahmad Zaidi Zainual
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84 views11 pages

Payroll.: Khadijah Puteri Zaidi Liyana Anis Atilia

This document provides an overview of the main business financial system of payroll. It describes the input, processing, and output aspects of a payroll system. The key points are: 1) Payroll systems involve inputting employee wages, bonuses, overtime, processing deductions and taxes, and outputting pay slips, payments to banks, and reports for tax purposes. 2) Processing calculates gross pay, implements deductions to calculate net pay, and makes payment through appropriate methods like checks, bank transfers, or cash. 3) Controls are in place for setting pay, recording wages, authorizing payments, reconciling totals, and segregating duties for accuracy. 4) Payroll is related to other systems

Uploaded by

Ahmad Zaidi Zainual
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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The Main Bussiness Financial Systems

Payroll.
Khadijah Puteri Zaidi Liyana Anis Atilia

Process Flow Of Payroll

Input Process

Output
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Inputs to payroll
a) Wages system
- Clock cards or timesheets. - Amount of bonus

b)

Salary system

- Similar to those for wages. - Usual for monthly salary to be generated by the computer from details held on master file. - No need for any transaction input. - Inputs : Overtime n bonuses
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Processing In Payroll System


1) Primary action

Calculating an employees gross pay

Calculating and implementing the various deductions (Net pay)

Making payment by the appropriate method.

2) WAGES
2

Input data on hours worked and pay details

Calculating weekly wage due to the employee ( The same calculation is carried out every week)

3) SALARIES

Pay employees the same amount as they received the previous month.

However in practice there are usually some amendments to make to monthly pay details and these are implemented during payroll processing.
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Outputs From A Payroll System


Pay slips
Payroll

A floppy disk with payment details for despatch to the bank n payment through BACS system

Output
Coin analysis, cheques, credit transfer forms

Payroll Analysis
Various forms required for income tax purposes

Control Features
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Control Features

Setting of wages n salaries

Recording of wages n salaries

Payment of wages

Payment salaries

Deductions from pay

Staffing n segregation of duties

Bases for compilation of payroll Preparation, checking n approval of payroll

Segregation of duties

Preparation n signing of cheques n bank transfer lists Comparison of cheques n bank transfer list with payroll Maintenance n reconciliation of wages n salaries bank account

Maintenance of separate employees records Reconciliation of total pay n deductions between one pay n the next

Recording of advances to pay

Authorisation of wage cheque

Answering queries

Dealing with nonroutine matters.

Custody of cash

Surprise cash counts

Review of hours worked

Verification of identity

Recording of distribution

Relation With Other Systems


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Relation With Other System


Human Resources
-Any changes to the basic authorizations and entitlements must be made by the human resources activity before being reflected in the payroll system. -e.g overtime , taking leaves , MC etc

Financial
- Payroll will pass the information to financial to pay to the employee -Financial costs processed through a payroll must be fully and accurately recorded onto the businesss balance sheet accounts. -Where the functions remain in-house, payroll may still be viewed as a client/customer of finance and vice versa
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