678+ documents containing “payroll”.
Traditionally, reducing payroll has meant laying off staff. Although this has the intended effect of cutting costs, there are negative effects as well that may counter this strategy. Centralizing certain processes can also result in a need for workers. However, other options may be available to help cut payroll costs, including converting employees to a merit pay system. Whichever option an organization determines is appropriate, careful consideration needs to be applied to the organizational goals and plans and how cuts will affect the strategies in place to achieve these. Certain product lines and strategies could be negatively affected by a reduction in payroll. Additionally, core competencies could be forever damaged. In these instances, the organization may be saving money now, but destroying their earning potential in the future.
eferences
"Consider converting merit pay raises to other rewards." Financial Executive, 15(3). p. 8.
Core competencies. (2010). etrieved March 23, 2011, from http://www.quickmba.com/strategy/core-competencies/.
Creative ways….
Software-as-a-Service in Accounting: Current Best Practices
IV. esearch Methodology
V. Analysis of esults
VI. Conclusion and ecommendation's
VII. Appendices and eferences
Literature Sources
The following are the literature and secondary research sources that will be used for completing this analysis. ABI Inform, Data Monitor, EBSCO Host, Hoover's, Lexus/Nexus and IBIS esearch are the secondary sources of data, which will be used for this analysis. Additionally, research from Forrester Group, Gartner Group, International Data Corporation and Ovum esearch (UK) will be used for completing the analysis as well.
Scope and Methodology
The scope will include interviews with 50 CFOs in the local region from small and medium businesses randomly selected from manufacturing, service and support industries. A total list of all small and medium businesses in the region will be defined and random number generator used to select the companies who will be contacted. Initial contact will be through personalized letters to the CFOs stating the intent of….
Root Cause Analysis and orkplace Management Studies
The study presented several interesting results. Those companies, regardless of size, that integrated a form of "Root Cause Analysis" (RCA) within their organizations were found to have increased their PM and the overall efficiency of their payroll departments. These companies were found to have higher bottom line revenue and shorter time to gross pay amounts than those companies that did not use RCA (Cheek 21). Those companies that have integrated efficient payroll protocols, the study revealed, spent less time on the day-to-day aspects of orkplace Management and therefore could focus critical resources and attention on more vital aspects of the companies business (Cheek 23). Those companies that improved the efficiency of their PM were found to use 58% less critical resources compared to other companies in their peer group (Cheek 23). As a direct result, these companies were able to generate more payroll record….
Payroll Software
The most important thing a Human esources department can do, is to ensure that it is aligned with the greater organizational strategy. A solid H department will know and understand the bigger picture and be able to prescribe actions that match the intentions of those objectives set out by leadership and other powerful sources.
This essay will demonstrate a practical application of H strategy by describing the selection process of a software program that is intended to manage the organizations wage and salary benefits in-house in attempt to save money by eliminating outsourcing practices. This essay will compare and contrast two different software programs that can be used for this application and provide a selection of one of the two that best meets the organizations needs.
Option 1: Kronos Workforce eady
According to Clancy (2013) " Workforce software provider Kronos is actively bringing human resources (H) applications once confined to larger enterprises….
New Payroll Application Architecture
One of the most commonly automated business processes and operations in the recent past is payroll, which is also the most often used human resource solution. The increased use and automation of payroll is attributable to the need to ease and reduce the time spent in payroll processes, which is one of the first applications in the working environment. Despite the increased automation of payroll, there are several companies that are yet to migrate from spreadsheets to payroll software such as this large organization with offices throughout the United States. The company, which has one large data center with offices connected through a Wide Area Network (WAN), is developing an automated payroll program. This process requires identifying a suitable type of architecture, types of technologies to be involved, and addressing any ethical issues that could emerge with the new architecture.
Type of Architecture for the New Payroll Application
The….
Many employers use a simple formula to calculate net pay. The formula is as follows:
Net Payment Calculation:
Employee's gross pay = (pay rate times number of hours worked)
minus Statutory payroll tax deductions minus Voluntary payroll deductions
= NET PAY
As mentioned above employers are also required to report payroll tax obligations in accordance with federal and state law. Below is a list of following responsibilities on the part of the employer.
Federal tax deposits
Annual federal unemployment tax return (Form 940 or 940EZ)
Employer's quarterly payroll tax return (Form 941)
Annual eturn of Withheld Federal Income Tax (Form 945)
Wage and Tax Statements (Form W-2)
In regards to the accounting entry, the employer must first record the gross wages earned by the employee, which was mentioned in detail above. It must also include the withholdings of their pay and any addition withholdings which also is detailed above. This entry usually includes debits for the direct labor expense, salaries,….
Literally the work of a Payroll Administrator and the staff they are a member of can make the difference between people in the company having jobs or not, or if the decision is made to shift the jobs to outsourcers or offshore to lower priced countries. In small, rapidly growing companies the Payroll Administrator has an excellent chance for advancement as they are often requested to provide financial analysis of the payroll cost breakdowns by employee and department group. The advances in analytics applications is enabling Payroll Administrators to be more adept at presenting their analyses, and as a result they are getting asked to more and more in companies seeking to manage their greatest single cost, which is payroll.
How a Payroll Administrator Would Use Quicken
With an overview of the Payroll Administrator's role, it's easy to see why Quicken chose to move in the direction of SaaS as a….
Centralized application and client management allows efficient solution of application management, access, performance, and security. Below is figure one taken directly from Citix Systems (Server-Based Computing, 1999).
The new architecture will have various types of technology implemented throughout the system. The main component will be the internet which provides the foundation for the architecture. Other web related technologies such as HTML, and communications protocols are also used. The architecture first begins at the presentation level. In regards to payroll this would consist on online paycheck review, or benefits review. At the presentation level, there is the client system, which is used to view Web page information. The client contains both presentation and application logic components. At the content level, there is a Web server that provides interactive view of information from a relational database. Finally, at the data and service level, there is a relational database system, which provides data….
Accounting Information System
Improving Transactional Processing in Accounting Information System (AIS)
Propose two (2) innovative technology changes that would be appropriate for a firm's:
evenue (sales to cash collection) cycle
evenue cycle represents the description of the financial progression of a business entity in relation to the accounts receivable from the point of acquisition of products to the stage when the company or business organization receives full payment for the products (omney, 2012). One of the innovative technological changes that can transform the revenue cycle is leverage technology. This technology would allow the company or business entity to adopt appropriate way of providing crucial information to essential parties in relation to consumers or market audience. Application or adoption of this technology would allow the company to maximize consumer relationships and production or profit levels. The other innovative technological change is automation of the management systems of the firm or organization. It is crucial to….
UltiPro is an industry leader in HCM, delivering more out-of-the-box functionality than any other provider. UltiPro's continuous H and talent management functionality includes recruitment, onboarding, payroll, worker and manager self-service, benefits administration, compensation management, performance management and reviews, succession management, talent retention tools, time and attendance, workforce scheduling, rich reporting and analytical decision-making tools, and more. UltiPro's Web portal can serve as a company's communications center and the fundamental gateway for business activities because it conveys functionality for everyone in the company, from H and financial departments as well as executives, staff managers, and individual staff. With the UltiPro portal, H/payroll staff, managers, and administrators can complete daily worker administration tasks, administer benefits, manage staff, and access reporting in real-time, all from one central location. Managers and executives can access frequently requested reports and analyze workforce statistics and trends on-demand. Employees can access pay and benefits information, get questions answered,….
Human Resources Technology
Castle's Family Restaurant Business Plan: Stage III
Item
This section should be written last. It provides the reader with an overview of your business plan. This section includes a brief description of the business, the goal of your business plan, your customer's market/clientele, their current "like" competition, and current business operations, and potential fiscal plan (fiscal plan may be assumed based on current manual process compared to pricing of automation).
Introduction provides sufficient background on the topic and previews major points. Conclusion is logical, flows from the body of the paper, and reviews the major points.
Company Review
This section should summarize the information from your Stage I paper. Provide a basic industry outline. Is it a growth industry? What changes do you foresee in this industry, and how is this company poised to take advantage of them? Take the information from your Stage I paper and analyze the data. What is your….
The initial recommendation comes from the employee's direct supervisor and is then discussed with the general director and the payroll manager.
At the fourth stage, the performance review, the employee and his direct supervisor come once again face-to-face to discuss the outcome of the performance appraisal process. The employee is informed of the managerial decision regarding future remunerations, and a date for a new meeting is set. The new meeting will establish goals for the following year, ergo the cyclic characteristic of the appraisal system (Grote and Grote).
Aside for meeting the three scopes previously identified, performance appraisals also present the company with several benefits. For instance, they create a context in which the employee is introduced to his own core competencies and limitations, based on which he can better direct his future formation. Then, the employees take an active role in their own evaluation and get to know themselves better….
Communicatioon in a Project
Importance of Communication in a Project
Effective communication is the key component for successful implementation of any project. The root cause of the project failure is that there is no integration of communication plan in the project lifecycle. Communication is a vital way to manage a project. Depending on the type of project, a project manager needs to plan the method to implement effective communication in advanced before a project starts. Typically, effective communication platform minimizes the project risks, and the failure to implement effective communication in a project could serve as a threat to the success of a project.
The objective of this report is to discuss the importance of a communication within a project. The paper demonstrates the importance of communication in the Personnel, Payroll, and elated Systems (PPAS) project.
Overview of PPAS project
The origins of the PPAS was dated back in 1995, when it was envisage….
e. An amount that is about 1% of GDP) to ensure that the current PAYGO system is solvent for the next 75 years. Thus, 10 trillion dollars problem is not as large and scary if we start acting today to fix the current system).
It is totally manageable."
ut the official plan is somewhat different. ush's administration is trying to introduce private account systems where a fraction of payroll tax will be transferred to private accounts and managed by the future retirees themselves, thus, giving them chance to invest this money into stocks, which have proven to give on average higher rates of return than the Treasury ills which generate rather moderate income.
The opponents of this idea state that this is just a shell-game, where no capital is accumulated and investments are not increased. The overall national capital is not increased, but this plan will cause enormous transactions costs which are estimated….
An HIS would enable Morgan to manage these operations for the business in a unified fashion. Since every restaurant is relatively similar in terms of its operations and H needs, all could operate using the same accounting approach to these business elements and all such functions could be unified using HIS.
A Human esource Information Systems (HIS) can track a variety of workplace needs, including (most critically for Castle's) the need for "complete integration with payroll and other company financial software and accounting systems" and management of records regarding employee attendance, hours and disciplinary information (Heathfield 2011). Critical functions such as employee's variable hours and the different seasonal needs of the restaurant regarding labor could be easily tabulated using an HIS. If all restaurants were equipped with the software, Morgan could manage such elements virtually from his office.
It should be noted that Morgan does not necessarily need every possible function….
The Anatomy of Fraud in Local Government: A Deeper Dive into the Anatomy of Corruption
Introduction:
Fraud in local government, a persistent and insidious problem, erodes trust and undermines the integrity of public institutions. This essay delves into the anatomy of fraud in this critical setting, exploring its multifaceted nature and proposing novel approaches to combat it.
1. The Anatomy of Fraud:
Types of Fraud:
Procurement fraud: Inflated bids, kickbacks, collusion
Financial statement fraud: Misreporting or concealing financial information
Payroll fraud: Unauthorized payments to fictitious or ineligible individuals
Motivations for Fraud:
Greed and personal enrichment
Pressure to meet financial targets
Lack of accountability....
Careers
Traditionally, reducing payroll has meant laying off staff. Although this has the intended effect of cutting costs, there are negative effects as well that may counter this strategy.…
Read Full Paper ❯Business
Software-as-a-Service in Accounting: Current Best Practices IV. esearch Methodology V. Analysis of esults VI. Conclusion and ecommendation's VII. Appendices and eferences Literature Sources The following are the literature and secondary research sources that will…
Read Full Paper ❯Business
Root Cause Analysis and orkplace Management Studies The study presented several interesting results. Those companies, regardless of size, that integrated a form of "Root Cause Analysis" (RCA) within their organizations…
Read Full Paper ❯Careers
Payroll Software The most important thing a Human esources department can do, is to ensure that it is aligned with the greater organizational strategy. A solid H department will know…
Read Full Paper ❯Human Resources
New Payroll Application Architecture One of the most commonly automated business processes and operations in the recent past is payroll, which is also the most often used human resource solution.…
Read Full Paper ❯Careers
Many employers use a simple formula to calculate net pay. The formula is as follows: Net Payment Calculation: Employee's gross pay = (pay rate times number of hours worked) minus Statutory…
Read Full Paper ❯Business
Literally the work of a Payroll Administrator and the staff they are a member of can make the difference between people in the company having jobs or not,…
Read Full Paper ❯Education - Computers
Centralized application and client management allows efficient solution of application management, access, performance, and security. Below is figure one taken directly from Citix Systems (Server-Based Computing, 1999). The new…
Read Full Paper ❯Business
Accounting Information System Improving Transactional Processing in Accounting Information System (AIS) Propose two (2) innovative technology changes that would be appropriate for a firm's: evenue (sales to cash collection) cycle evenue cycle represents…
Read Full Paper ❯Business
UltiPro is an industry leader in HCM, delivering more out-of-the-box functionality than any other provider. UltiPro's continuous H and talent management functionality includes recruitment, onboarding, payroll, worker and manager…
Read Full Paper ❯Business
Human Resources Technology Castle's Family Restaurant Business Plan: Stage III Item This section should be written last. It provides the reader with an overview of your business plan. This section includes a…
Read Full Paper ❯Careers
The initial recommendation comes from the employee's direct supervisor and is then discussed with the general director and the payroll manager. At the fourth stage, the performance review, the…
Read Full Paper ❯Business - Management
Communicatioon in a Project Importance of Communication in a Project Effective communication is the key component for successful implementation of any project. The root cause of the project failure is…
Read Full Paper ❯Economics
e. An amount that is about 1% of GDP) to ensure that the current PAYGO system is solvent for the next 75 years. Thus, 10 trillion dollars problem is…
Read Full Paper ❯Careers
An HIS would enable Morgan to manage these operations for the business in a unified fashion. Since every restaurant is relatively similar in terms of its operations and…
Read Full Paper ❯