Before revision: Payroll management performs the following tasks: Calculating and paying wages, settlement of tax withholdings Delivery of wage calculations and certificates to the employees Compiling statistics for different authorities, and for the purposes of improving activities Drawing up employment contracts Providing regulatory reports to the tax agencies and insurance companies Calculating annual holidays Managing deductions for employee benefits The travel costs and travel invoices from the employees are usually processed together with payroll.
After revision: Timekeeping: knowing hours worked, and when (to know when overtime pay applies)Payroll management performs the following tasks: Calculating and paying wages, settlement of tax withholdings Delivery of wage calculations and certificates to the employees Compiling statistics for different authorities, and for the purposes of improving activities Drawing up employment contracts Providing regulatory reports to the tax agencies and insurance companies Calculating annual holidays Managing deductions for employee benefits The travel costs and travel invoices from the employees are usually processed together with payroll.