Generic Overview: Payroll System

Summary

This video provides an overview of the existing payroll process at Motor PH. Employees record their work hours using a Bundy clock, which are then submitted to department heads for approval. Once signed, the time cards are forwarded to the finance department, where payroll personnel validate the data, calculate gross pay, and apply tax and other deductions. The final payslip is generated and released to employees on payday. Additional resources are provided for those interested in exploring each department's role in the payroll process.

Takeaways

• 😀 Every employee at Motor PH has a dedicated time card to record their time in and time out.
• 😀 Employees use the Bundy clock to track their working hours.
• 😀 At the end of each cutoff period, employees review and submit their time cards to their department head.
• 😀 The department head signs and approves the time cards before forwarding them to the head of office.
• 😀 The head of office then sends the approved time cards to the finance department for processing.
• 😀 Payroll personnel in the finance department verify the validity and completeness of the time card data.
• 😀 The payroll team calculates the employee’s gross pay and applies necessary deductions for taxes and other withholdings.
• 😀 Once the payroll calculations are complete, the finance department generates the employee payslip.
• 😀 Employees receive their payslip and salary during payday.
• 😀 To understand more about each department’s role in the payroll process, employees can refer to the provided materials.

Q & A

What is the primary purpose of the video?

The video is designed to provide an overview of the existing payroll process at Motor PH.

How do employees record their time at Motor PH?

Employees record their time by using a dedicated time card and the Bundy clock for clocking in and out.

What happens at the end of each cutoff period in the payroll process?

At the end of each cutoff period, employees review their recorded hours and submit them to their department head for signing and approval.

Who is responsible for forwarding the time cards to the finance department?

After the department head signs and approves the time card, it is forwarded to the finance department for further processing.

What does the finance department do with the time card?

The payroll personnel in the finance department evaluate the time card for validity and completeness before calculating the employee's gross pay and applicable deductions.

What deductions are made during the payroll processing?

Deductions include taxes and other withholdings from the employee’s gross pay.

What happens once the payroll calculation is completed?

Once the payroll calculation is completed, the finance department generates the employee’s payslip and processes their salary for release on payday.

How are employees paid?

Employees are paid their salary along with the payslip during payday after the payroll is processed.

Is there additional material available for understanding the payroll process?

Yes, additional materials are provided below the video for more details on the processes within each department involved in the payroll system.

Who approves the time card before it is sent to finance?

The department head is responsible for reviewing and signing the time card before it is forwarded to the finance department.