Payroll System: Overview
The solution has to take care of calculation of salary as per rules of the Company. This Payroll System is a full-featured system that manages financial information of every employee in an organization. It computes and processes the payroll in the certain payroll period. This Payroll System is also a flexible compensation administration solution. It is designed to help human resource professionals as well as finance and accounting personnel to manage employee compensation, deductions, allowances, and benefits in an organization.
The system is integrated with the Employee’s information, offers efficient features and functionalities to manage company’s expenses. Background of the Study Trends Asia Marketing and Services Corporation (TRAMSCO) provide superior corporate assistance and business solution by giving various services to the companies, business owners, entrepreneurs and professionals. Trends Asia Marketing and Services Corporation (TRAMSCO) offer solutions to help your business succeed. They are committed to excellence in providing an effective, efficient support system for all phases of your business.
They can assist you from start-up, taking care of the countless details that need to be handled, they can help with tasks relating to day-to day operations, and they can help formulate and implement effective business strategies to help your business grow and flourish. Because of these, Trends Asia Marketing and Services Corporation (TRAMSCO) grows immediately but Mrs. Agnes De Guzman Francia the owner realize that its hard to use the “Mano – Mano System” when she gives the salary and wages to her employees, since her business achieved the highly status recommendation around the Philippines.
She decided to cooperate with a computer manufacturer in designing and analyzing the system. She request to the computer designer to do something that makes easier when she giving the salary of her employees. She adds some details like the log – in form, because she said, she wants to personalize and to maintain the confidentiality of the information contains. She also added some details in the second form like employee’s name, and no. of hours worked and the other design and details are done by the computer designer. After 5 – 6 years working out with this system, Mrs.
Agnes De Guzman Francia wants to update their Payroll System and change the other information. That‘s why we offer Mrs. Agnes De Guzman Francia a free system which conceptualized the information according to her wants. Problem Definition Last Friday December 11, 2009, we decided to start doing our system entitled Payroll System. To describe the system before we conceptualize it, it contains Employee’s Name, No. of hours worked, O. T. pay, Rate per hour, basic pay, and Gross pay. Now we added the deductions that typically reduced in the salary in a regular employee, it contains SSS, MED, Total Deductions and Net pay.
Of course before we succeed in doing this system, we encounter a lot of problems and those are problems are not easy to solve like the calculation that we need to input to performed the right calculations in this system, we don’t know how much is the cost of the SSS, MED and the Other fees that we need to lessen in the salary of a employee. To solve these problems our group think some possibilities which help us to fulfil our project. First we asked some regular employees how much the cost of the SSS that their employer deducts in their salary.
Our Second option is we search and surf the net to know the cost of following. Significance of the Study Payroll System is important to every company because any business that employed people will have to process those wages of the employee when they are due. In order to make sure that your payroll is processed correctly and accurately, you need a system which appropriate to your needs. That’s why this system exists. Payroll System is done by calculating how much each employee is owed, then making the appropriate deductions for tax, SSS pensions, etc. nd sending those to the relevant tax offices. Then payslips need to be printed and issued to employees and the duplicate copy will be given to the administration or to the accounting department to record the transaction. Scope and Delimitation CHAPTER 2 Existing systems overview Background of the Company Last quarter of 2004, four friends have conceptualized venturing into salon operations, since no one has knowledge in salon operations; they agreed to venture into salon franchise agreement.
Trends Asia Marketing ; Services Corporation (TRAMSCO) was incorporated on October 4, 2004 to formally handle the franchise agreement with F Salon ; Body Spa. The franchise outlet was located in San Joaquin, Pasig Branch. First quarter of year 2005, the corporation engaged in various services aside from operating a salon franchise. The corporation engaged itself in providing manpower outsourcing and other allied services. Management of the franchise was left under Trends Asia Marketing ; Services Corporation (TRAMSCO).
Conflict on financing the manpower activities which remained solely on the part of its operations manager, Mrs. Agnes De Guzman Francia, prompted her to segregate the F Salon ; Body Spa Franchise from Trends Asia Marketing ; Services Corporation (TRAMSCO), and pursue its manpower sourcing and allied services. The salon franchise is continuing to date with the original partners who established it and Trends Asia Marketing ; Services Corporation (TRAMSCO) was left under the management of Mrs. Agnes De Guzman Francia.
Trends Asia Marketing ; Services Corporation (TRAMSCO) now was transformed as a family corporation. Having seen the viability and profitability of salon operation, the husband and wife team of Francia’s locate feasible locations for possible salon outlet. On September 2006, an existing salon outlet was being sold by its owner who is migrating abroad. Right there and then, the couple decided to buy out and pay for the existing salon and transform the salon outlet into what it is today. Yanna’s Salon ; Body Spa opened on September 24, 2006 till under the operation nd management of Trends Asia Marketing ; Services Corporation (TRAMSCO). Yanna’s Salon was named from the spouse’s youngest daughter “Yanna”. The Salon from the initial opening date, continue to how brisk business and good sales performance. Trends Asia Marketing ; Services Corporation (TRAMSCO) at present is continuing its manpower sourcing and business set up and accounting services. The 1st Yanna’s Salon is situated in corner Village East, Cainta Rizal which commences its operations on September 18, 2006 and the 2nd outlet in Rosario, Pasig City commences on November 24, 2006.
The company has a target of at least maintaining 6 company owned salon locations starting within Rizal Area and in the future a possibility of offering salon franchises in any parts of the Metropolis and in nearby provinces. Yanna’s Salon ; Body Spa is a full – service beauty salon adhering to consistently provide high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship.
They will also maintain a friendly, fair and creative work environment, which respects diversity, ideas, and hard work. Existing Systems Overview Existing Systems Overview | | |UTILITY EXPENSE | | | Annual Expense | | |Monthly Expense | | | | | | | | | | |WATER |P 1,800. 0 |P 21, 600. 00 | | | | | | | | | | | | | | |UTILITY EXPENSE | | | |Annual Expense | | |Monthly Expense | | | | | | | | | | |TELEPHONE |P 3, 300. 00 |P 39, 600. 0 | | | | | | | | | | | | | Data Flow Diagram CHAPTER 3 System findings System Findings Analysis for Proposed System Cost CHAPTER 4 System implementation System Implementation Chart of Comparison for the Existing and Proposed System [pic] Statistical Computation Monthly Benefit (MB) |Annual Benefit (AB) | |MB = EC – PC |EC * 12 Months =? | |MB = 30,000 – 15,000 |PC * 12 Months =? | |MB = 15,000 |AB = EC – PC | | |AB = 360,000 – 180,000 | | |AB = 180,000 | Break Even Analysis [pic] Comparative Chart for Monthly and Annual Benefit Existing Monthly Cost |Existing Annual Cost | |Existing Monthly Cost = 30,000 |Existing Annual Cost = 360,000 | |After 5 months = 150,000 |After 5 years = 1,800,000 | |Monthly Benefit = 6,000 |Annual Benefit = 72,000 | | | | |Proposed Monthly Cost |Proposed Annual Cost | |Proposed Monthly Cost = 15,000 |Proposed Annual Cost = 180,000 | |After 5 months = 75,000 |After 5 years = 900,000 | |Monthly Benefit = 3,000 |Annual Benefit = 36,000 | Comparative Chart for Monthly and Annual Benefit
Comparative Chart for Monthly and Annual Benefit CHAPTER 5 Summary Summary Conclusion Recommendation Objective of the Study The Primary objective of this study is to continuously operate the Payroll Department of Trends Asia Marketing ; Services Corporation (TRAMSCO) which held the salary and wages of their employees. Secondly, the Payroll Department of Trends Asia Marketing ; Services Corporation (TRAMSCO) make a payroll report easier rather than before. [pic] ———————– START NO YES LOGIN CALCULATE EXIT B. P = N. H. W * R. P/H O. T = R. P/H * -1. 25 GP = B. P + O. T D = SSS + MED + OTHERS FEES N. P = GP – D OUT PUT END END FLOW CHART