2. ERP
ERP is the new invention of Information technology
in which experts make the system for integration of
all business processes . For this , they utilize
different software and hardware , with this all
process of business like , accounting , human
resource , production and now marketing are
managed
3.
4.
5. Payroll
Payroll manages the portion of accounting that is
related to salaries, wages, and bonuses for
employees. The software must be able to support
the following set of functionality: payroll profile for the
employees, benefits and deductions, eligibility
controls, user’s balances, tax deductions, as well as
payroll calculations, processing of payments, check
printing, check distribution, tax documentation,
security and auditing, and automated timesheets.
6. Profile for Employee Payroll
The employee payroll profile allows administrators to
add, change, or delete information regarding an
employee (including their personal, wage, tax ,
deductions at source, and direct deposit
information).
7. Automated Time Sheet
1.Creates edit reports to show exceptions in payroll
process prior to running payroll
2.Automate balancing income taxes processes .
9. Employee self- service
Employee self-service lets workers access their
personal information .
Benefit allocations on-line to manage life events and
benefit selections without having to send forms to
human resources.
The software should also support benefit enrolment
programs
10. User Balances
This
user
balances
functionality
allows
administrators to define opening balances for
earnings, deductions, and tax deductions for each
employee within the enterprise.
User balances can be defined in various units of
measure such as, currency, hours, or integers.
In deductions where there is a cap amount, the
system will automatically stop the deduction once it
has reached the defined user balance.
11. Earnings and Deductions
Earnings and deductions include all monies payable
to and deducted from an employee for services
rendered.
Earnings may include wages, commissions, and
bonuses.
Deductions may include taxes, benefits, etc.
12. Reporting and Analytics
Five or more years of history can be stored in
system with no performance slow-down
Wage
and salary costs data, with detailed
breakdowns across, for example, earnings,
deductions, and disbursements
13. Creates edit reports to show exceptions in payroll
process prior to running payroll
Print directly from the system without using third
party software
Automate balancing income taxes processes
14. Payroll
reporting (e.g., tax reporting
government-mandated reports to employees )
and
Absence and leave accrual reporting
Report on vacation usage and alert supervisors
when allocation is exhausted
15. Generates reports on employee sick time and lost
time injuries and illnesses
Tracks absentee rates by department and supervisor
Tracks
employee absences against
parameters and generates reports
various
