Not so long ago, all payrolls used to be calculated manually, without any help from a computer˳ Professional accountants invested a lot of time and energy into keeping track of all employee data, files and information, calculating monthly salaries, hourly remunerations, bonuses, sick leaves, benefits, taxes, deductions and so on˳ And they did this all by keeping numerous files filled with track records for each and every person employed˳
Nowadays, however, thing are far more simple than they used to be˳ Because technology is always dedicated to making things easier and better, quite a wide variety of computerized payroll systems is available to save us from this tedious task˳ Now, instead of keeping dozens of files and spending endless hours calculating, all you have to do is get a payroll software system and let it do all the nasty work˳
So manual vs˳ computerized payroll system? It really bares no comparison˳ A manual payroll system means doing everything by hand, while a computerized one will enable its users to store unlimited data, keeping track of everything˳ While with a manual payroll system you’d have to keep track of all employees’ time by hand, with a payroll software you can automatically transfer all punches or swipes directly into the system, which will store them instantly˳ It can even separate regular work hours from overtime, and calculate the different remunerations according to set parameters˳ And if human error sneaks in even with the most organized manual payroll system, a computerized payroll software will provide accurate calculations regardless of the amount of data stored˳
The computerized payroll software systems save time and money, they’re very easy to use and they’re also very practical˳ There are several different types of payroll software systems, with various features, functions or advantages˳ And of course, the price will also vary according to the type of software˳ All programs, however, include essential features for storing employee information, files and track records, and will enable authorized users to enter, view or change information anytime˳ Basic features include paycheck processing, direct deposit options, payroll reports, tax reports, deductions, quarterly and annual ware reports and many others˳
Moreover, while with a manual payroll system you have to do everything yourself, a computerized payroll software will calculate automatically all pay frequencies, employee statutory deductions, 401k contributions, bonuses, medical benefits etc˳ Basically, all you have to do is enter all the data upon which the deductions are based, and the software will handle everything else˳
In conclusion, compared to computerized software systems, the manual payroll system takes up valuable time, resources and money˳ So instead of wasting valuable time with the tedious accounting tasks, let the software calculate the paychecks, while you work on developing your business, increasing production and revenue˳
Source by https://ezinearticles˳com/?Manual-Payroll-Vs-Computerized-Payroll-Systems&id=5002332
