Payroll processing

(outsourcing)

Payroll refers to the process by which employees receive their salary and keep a tab on their non- cash benefits. Activities in this function involves all accounting procedures in evaluating payable days(checking attendance records), verifying rates of payment, making deductions for taxes on Federal / Provincial levels, deducting any installments for loans / advance salaries. A balanced final document is drawn assessing the total amount of salaries payable. Finance department usually handles banking and payments salaries deposit into individual employee accounts.

HR also issues Pay slips either in hard-copy or electronically to employees as well. Record keeping and verifying the reliability of pay data. Payroll outsourcing takes away this whole mundane activity and hands over a completed document to HR and Finance for onward activity involving banks deposits. Pay slips are also sent to HR for transmittal or printing. A nominal fee is charged for attendance capturing equipment involved and processing as per SOP.