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Payroll business cycle - Coggle Diagram
Payroll business cycle
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Timekeeping function
This function keeps a record of valid hours worked for which the company must remunerate employees. It ensures that employees are paid for the hours they worked. Wage earners get paid weekly based on their hours.
Wage earners' hours are recorded through clock cards or time clocking devices. Weekly hours are calculated and sent to the payroll preparation function.
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