Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Payroll Errors and How to Avoid Them
1. Payroll Errors and how to
Avoid Them
Synerion Workforce Management
Solutions
2. What is Payroll?
• In most general terms payroll refers to the amount paid
to an employee in a particular pay period for their
given service to the employer
• The primary tasks of the payroll department in a given
organization is to ensure that the company’s
employees are paid the correct amount based on their
wage, hours worked and deductions
2
3. Determining Payroll
• In an ideal world determining payroll for an employee would involve simply
taking the number of hours worked in a particular pay period and multiply it by
the employee’s hourly wage
• However the real world is much more complicated
• Organizations must take into account:
• Sick days
• Vacation days
• Provincial/State taxes
• Federal taxes
• Benefits
• Retirement Plans
• Unemployment Insurance
• Etc
3
4. Impacts of Determining Payroll
Incorrectly
• Statistics have shown that nearly 33% of employers have
made significant payroll errors
• There are a variety of impacts this has on the organization
and its employees such as:
• Possible legal conflicts
• Decreased morale
• Lower workforce productivity
• Higher levels of attrition
• Etc
4
5. The Solution to Avoiding Payroll Errors
• An automated time and attendance solution is a great
way to ensure that your organization’s payroll is 100%
accurate and complies with all labor and governmental
regulations
5
6. What is an Automated Time and
Attendance Solution and How can it help
• An automated time and attendance solution uses
hardware and software to accurately calculate payroll
• Employees punch in to work using a time clock and
punch out when they are leaving
• The time clock is connected to software which stores the
days and hours worked and other employee information
• At the end of a pay period the system automatically
calculates the appropriate amount to pay each
employee including all applicable deductions (taxes,
insurance, etc)
6
7. For more information on workforce management solutions
visit: http://www.synerionwfm.com/