PAYROLL PROCESSING
HOW PAYROLL PROCESSING works
LIST OF BENEFITS
Save Time
Safe Backup
Easy Forecasting
Data Security
Avoidance of Duplication
Reducing Costs
PAYROLL PROCESSING
Steps for payroll PROCESSING
Define Payroll Policy
For payroll to work, the management has to agree on well-defined policies in order to govern how payments will be calculated and distributed. Such policies include attendance policy, leave, and benefits, pay policy, etc.
Collect Payroll Inputs & Verify
We will gather financial information from various departments to ensure our input into the system is as accurate as possible. The chart below is a glimpse of the information we will acquire:
Payroll Calculation
The information is then input into the payroll system for actual payroll processing. We then reconcile the values and double-check for accuracy to avoid any mistakes.
Statutory Compliance
During the payroll process, we then adhere to the statutory compliances. We make statutory deductions in line with EPF, SOCSO, EIS, IRB/ LHDN, etc. These are then paid to the respective governing/authoritative bodies.
Payroll Accounting
Every company keeps a record of all its financial transactions in an accurate book of accounts. Salary paid is a significant cost. All accounting data will be input into the ERP/ accounting system.
Payout
Employees are usually paid through bank transfers, cheques, cash, or whatever payment plan/system that a company has in place for its staff.
OTHER SERVICES
OTHER SERVICES DELIVERABLES ON FEE QUOTED BASIS
Process Salary and Statutory Payments – (EPF, SOCSO, LHDN, Labour Office)
Assist for Statutory registration for the new set-up of the company.
Year-end Borang EA and Borang E (e-filing)
Representation to payroll and labour related government offices for any company and HR Matters.
HR Consulting, business transformation and restructure
Payroll Processing & Administration education certification
MORE INFO
To ensure a good and accurate payroll management process, we plan the payroll process step-by-step. Proper payroll processing can ensure that your legal obligations are met and your employees are paid on time. Our payroll software can support your payroll is processed in a timely manner and accurately.
QUICK LINKS
OFFICE MALAYSIA
- Virtuepayz Outsourcing Innovation Lab Block 2, Infrastructure University Kuala Lumpur De Centrum City, Jalan Ikram-Uniten, 43000 Kajang, Selangor
- info@virtuepayz.com
- +60 12-755 7883
- Mon to Fri 9:00AM to 6:00PM
OFFICE AUSTRALIA
- 9/204 Alice St, Brisbane QLD 4000, Australia
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- info@virtuepayz.com
- +61420457887
- Mon to Fri 9:00AM to 6:00PM