Course Hero Logo

01_Act_1_Capstone.docx - 1. What is a payroll management...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 2 out of 3 pages.

1.What is a payroll management system?Why is payroll management important?What are some methods of payroll management?What are the phases of the payroll management process?What are the functions of a payroll management system?What are the benefits to using payroll management software?How to choose a payroll management systemHow ADP can help businesses with payroll management2.Manual payroll management using spreadsheetsEmployers with a few employees may opt to manage payroll using a manual method, such asspreadsheets. The potential cost savings, however, are usually outweighed by the pitfalls.Manual DIY processes increase the risk of costly mistakes and take time away from activities thatdrive business growth.Payroll management softwareHigh-quality payroll software saves time and alleviates administrative burdens by automatinglabor-intensive tasks. Employers can rely on it to calculate gross wages, deductions and net payaccurately, while allowing them to maintain some control over the process.OutsourcingEmployers that are interested in taking payroll off of their plate entirely often engage anadministrative services payroll provider or enter into co-employment with a professionalemployer organization (PEO). In arrangements such as these, all aspects of payroll administration– including tax deposits, reporting and compliance – may be fully managed by the provider or

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 3 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
NoProfessor
Tags
Payroll Management System

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture