What is payroll processing?
Payroll is generally the list of all the employees who work for the company and the wages given to them. This information consists of all the data of the wages given to the employees, which include bonuses, salaries, taxes, provident fund and incentives. The process of documentation and reporting of the payroll processing is called payroll reporting.
Time Clock Genie:
It is the company which provides the services of online employee scheduling and also payroll processing. It offers its clients the various methods of payroll processing depending on the employees and their capabilities. The website is also used for payroll processing and the payroll reporting is done and given to the company which is very accurate and dependable. The company processes the payroll according to the demand and the necessity of the company and sometimes according to the preference of the company.
How does Time Clock Genie help?
The web site of time clock genie processes the payroll by collecting the employee list from the company. The employee list consists of all the data that are required for the payroll processing. The natures of the job of the employee, the shifts, the extra time are specified and the wages are categorised based on the data of the employee list. The payroll reporting is done by the website in various processes. First, the wage information of the employee is collected from the company. Then the information of the daily wages is calculated based on the total salary of the employee per month. Then the gross wages of each employee is calculated by the website.
The next set of steps includes calculating the amount of money that is withheld from the employees. This money is the taxes that are paid by the company directly to the government. The tax money is deducted from the pay of the employees. After the deduction of the tax money, the final report of the payroll is presented to the company. This final report is called payroll reporting. Time clock genie helps the independent companies by reducing their work pressure of processing the payroll and lets them concentrate on the other aspects of the business.