Today we share with you idea about payroll management system. Every employer needs this software and currently many enterprises didn’t have any automatic payroll management system so they need to hire more employee in human resource department. My idea is about to fully automate the payroll process so that employers need less man power in human resource department. So this is best final year project idea for graduate student in college and university . For this project you need database expert , programming and web designer. My idea is to make centrally located payroll management system which can be access via internet and no-need to go to office. You can access payroll management system remotely from home or cafe. So it’s great idea for final year project for computer science students and even computer engineering system can do this final year project.

The term “payroll” encompasses every employee of a company who receives a regular wage or other compensation. Some employees may be paid a steady salary while others are paid for hours worked or the number of items produced. All of these different payment methods are calculated by a payroll specialist and the appropriate paychecks are issued. Companies often use objective measuring tools such as time-cards or time sheets completed by supervisors to determine the total amount of compensation due each pay period.

WHY PAYROLL MANAGEMENT SYSTEM?

Productivity: Manual payroll management is a time-consuming activity. With this burden removed, your employees can focus on doing more productive things.

•  Accuracy:

Payroll mistakes can be painful, angering employees and — more ominously — the government. Furthermore, if a big mistake is made, you can seek financial restitution from the provider — something you can’t do with your own employees. With payroll management system you can escape from making mistakes.

•  Security:

With manual payroll management you have to keep register in cupboard and lock it. With payroll management software your system is secure and you do not need to worry about it.

•  Greater Control:

Using software, to do your payroll gives you greater control over your data.

•  Saves Time:

The software reduces the amount of time spent, by automating repetitive and sometimes difficult tasks.

•  Easy management:

It becomes easy to manage payment of all employees whether they are regular or contracted employees and whether they are paid monthly or daily.

•  Automatic slip generation:

Pay slips are generated automatically with speedy and accurate calculations.

•  Make deductions easy:

You can easily make additional deductions from each employee’s wage packet.

•  Automatic calculations:

The software automatically calculate a range of additional payments.

• FEATURES OF PAYROLL MANAGEMENT SYSTEM

• Dynamically Customized for all business needs:

This payroll system can be customized for all the levels of business organization. It can be customized for dynamically adding different departments depending on the need of organization. You can maintain records for all types of the employees i.e. regular and contracted.

• Managing Payroll with changing financial scenarios:

This unique feature of the payroll system allows you to change payroll calculations depending on change required by the company. This can be achieved by providing user an option to set tax and allowance calculation formulae which can be dynamically changed.

• Accurate and Speedy Payroll generations:

You can accurately generate pay slips for all employees of the organization along with all tax and allowance calculations. Using this you can generate and print pay slips for all employees.

• Leave Management System:

This will help you effectively manage all kinds of employee leaves and keep track of employee leave records.

• Performance Management System:

This feature will help you to monitor the employee performance and keeping record of the employee performances.

• Office Document Management System:

This will help you to manage office documents needed by employees. This includes offer letter, experience letter etc.

• Automatic inclusion of extra earnings:

Automatic inclusion of “extra earnings” (not entered on an employee’s timecard) based on the employee group (union), and the cost center to which these earnings are charged.

• Automatic Deductions:

Automatic inclusion of deductions based on the employee’s group (union), and the cost center to which the earnings are charged.

• Automatic inclusion of contributions:

Automatic inclusion of contributions based on the employee’s group (union), and the cost center to which the earnings are charged.

• Automatic time charging:

An employee’s time can be charged to a specified destination ledger at an hourly rate which represents the actual payroll cost, the average annual hourly rate for salaried employees, or a standard cost rate. The standard cost rate can be defined at the employee, employee group, grade, or class level.

• Employee access method:

Employees can be accessed by employee number or by keywords built from the employee’s name.

• Transportation operations:

For transportation operations, a method of entering operator work schedules which enables an operator sign-in worksheet from which timecard entries are generated automatically.

• Selection for payroll calculations:

User-defined selections for determining which employees are to be included in a payroll calculation process. For example, you can select employees who are being terminated, in order to calculate only the termination payments.

• Automatic check distribution:

Check distribution codes facilitate the distribution of payroll checks to employees.

• Validation of payroll transactions:

Complete validation of all payroll transactions before initiating the payroll computation process minimizes potential errors based on user entered data elements.

• Payment methods:

Payments can be made by either check or direct deposit, using an easily customized format for the checks or the remittance advice notice.

• Email facility:

Ability to email direct deposit advice notices to employees.

• Magnetic media reporting:

Magnetic media reporting of direct deposits.

• Specialized processing for calculating accrued payroll entries:

Specialized processing for calculating accrued payroll entries to the General Ledger when a pay period spans more than one fiscal period.

• On-line inquiry:

On-line inquiry for employee benefits showing values accrued versus values taken, e.g., sick leave or vacation.