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PAYROLL CYCLE - Coggle Diagram
PAYROLL CYCLE
- HUMAN RESORCES: ENSURES ALL MATTERS RELATING TO PERSONNEL DEPARTMENT ARE PROPERLY MAINTAINED
DOCUMENTATION: EMPLOYEES FILE, PAYROLL AMENDMENT FORM, UPDATED LIST OF EMPLOYEE DETAILS.
CONTROLS :Interviews should be conducted with all applicants & the head of the
department in which the applicant is going to work should be present.
All changes should be documented and approved by the authorising body (e.g.
wage committee)
- TIMEKEEPING FUNCTION: TO KEEP ACCURATE AND COMPLETE RECORD OF VALID HOURS WORKED FOR WHICH THE COMPANY MUST REMUNERATE EMPLOYEES
DOCUMENTATIONS BLANK CLOCK CARDS, HOURS RECORDED ON THE CLOCK, BATCH CONTROL SHEET AND BATCH REGISTER.
CONTROLS: Clock cards should:
be numerically accounted for (sequence check);
Entry and exit points to the work area should:
be limited to one access point;
- PAYROLL PREPARARTION: TO CALCULATE GROSS WAGES, DEDUCTIONS FROM EMPLOYEES AND NET WAGES
DOCUMENTATION: CLOCK CARDS, UPDATED LIST OF EMPLOYEES, PAYROLL, WEEK TO WEEK RECONS
CONTROLS:
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The wage rates, deductions should be obtained from personnel records or master files
DEDUCTIONS: PAYMENTS AND RECORDING: TO PAY THE CORRECT AMOUNT OVER TO THE RELEVANT AUTHORITIES AND TO DO IT WITHIN THE CORRECT PERIOD AND SUPPORTED BY RELEVANT DOCUMENTATION.
DOCUMENTATION: GENRAL LEDGER, PAYROLL, CASH PAYMENTS JOURNAL, RETURN FORM
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- PAYMENT PREPARATION AND PAYOUT: TO MAKE SURE EMPLOYEES ARE PAID THEIR WAGES FOR ONLY THE HOURS WHICH THEY HAVE WORKED.
DOCUMENATION: AUTHORISED PAYROLL, PAYROLL, PAYSLIPS, PAY PACKETS, UNCLAIMED WAGES REGISTER
CONTROLS:
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The foreman must identify all employees, however, the pay-out must not be done by himself
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