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PAYROLL FUNCTION AND HUMAN RESOURCE (HR) FUNCTION UNIT 5 - Coggle…
PAYROLL FUNCTION AND HUMAN RESOURCE (HR) FUNCTION
UNIT 5
OVERVIEW
Functions
Payroll preparation
Payment preparation and payout
Timekeeping
Deductions - Payments and Recording
HR
Account affected by this cycle
SCI
Commissions
Bonuses
Wages
Manufacturing wages
Directors' emoluments
Gross salaries
Employer contributions
SFP
Accounts payable (payroll deductions such as medical aid/taxes/pension funds)
Accounts payable (employer contributions)
Employees for remuneration accrued
Various bank accounts
HUMAN RESOURCES FUNCTION (LESSON 1)
General
Deals with all aspects of the human capital of the company and therefore, should be skilled in recruiting, counselling, negotiating and labour law
Responsible for keeping all employee records (i.e. employee permanent file), focus on the hiring and dismissal of staff, and ensuring that pay rates and changes thereto are implemented promptly
The objective of this function is to ensure that all matters relating to the personnel department are properly maintained
Important that accurate and complete records for all valid employees are maintained by this department as this facilitates the provision of information necessary to produce valid clock cards or timesheets for record keeping purposes