Payroll is a list of employees and the wages due to each or said another way, the total sum of money to be paid to employees on a payroll.
Acumen is an active member of the American Payroll Association, this payroll association markets to it's members in an educational manner payroll systems and services. Acumen exhibits at the annual APA Congress trade show as well as via the Global Payroll Management Conference. Time and attendance is a primary interest at these trade shows because it is a subsystem to a payroll, collecting time employees report to work and automatically formatting the data for automatic entry to payroll. The Return On Investment on automated time and attendance is realized by many organizations within the first year of use.
Payroll processing is either performed in-house or out sourced, many payroll systems exist that calculate benefits, taxes and other deductions from employee checks per pay period. Most systems physically print the checks or transfer direct deposits.
The strategy of holding payroll in-house for the cash and interest value verses the outsource risk reduction is a decision that will always be weighed. Many of the outsource services have become payroll tax experts. Many early computing era company's found finical health in holding a corporations payroll cash for up to a pay period before check cutting checks. Today that time is reduced to hours, making the outsource route an attractive option today yet a near oligopoly. A lot of the small business data processing companies have folded or grown into other services, the likes of ISPs and web development houses.
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