Systematization of accounting and payroll calculation
When companies manage their payroll through manual processes, they may be unaware of the financial losses that could result from errors with these systems. Not only can the wrong numbers result in under or overpaying employees, resulting in inefficiencies, but it can also lead to liabilities that could put businesses at risk.
Common issues affecting organizations;
Inconsistency in data entry, room for errors, miscopying information.
Large ongoing staff training cost.
System is dependent on good individuals.
Reduction in sharing information and customer services.
Time consuming and costly to produce reports.
Lack of security.
Duplication of data entry.
This raises the question of why businesses are not embracing payroll automation since the issues listed with manual processes can be avoided with systematization. The difficulties involved in the efficient gathering and transmitting of input information necessary for the payroll process has made companies decide to keep payroll processing as an internal function within their local organizations. Although many managers recognize the risks and the lack of efficiency inherent in using manual method, they have not had attractive enough options from third party payroll providers to consider changing approaches.
Payroll processing requires careful handling to ensure accurate pay checks and payroll tax compliance. An employer may use an in-house computerized system in which payroll software does the calculations, or it may outsource the task to a payroll service provider to handle the calculations.
Working with AGL, we will help you discover the right business management solutions for effective accounting and payroll systems. We can also assist with your periodic payroll calculations using our hosted system.
Our services includes;