Chapter 14: The payroll cycle. Upon completion of this lesson, the successful participant will be able to: To learn about the human resource management (HRM) business activities and the payroll cycle business activities, to learn to flow chart HRM business activities and payroll cycle business activities, to understand the processing of HRM and payroll cycle transactions using computers, to know the control practices and procedures in HRM and the payroll cycle. | The payroll cycle Learning objectives To learn about the human resource management (HRM) business activities and the payroll cycle business activities. To learn to flow chart HRM business activities and payroll cycle business activities. To understand the processing of HRM and payroll cycle transactions using computers. To know the control practices and procedures in HRM and the payroll cycle. key terms annual leave awards clock card employee earnings record human resource management leave loading long service leave payroll register payroll tax rate of pay sick leave time sheet Human resource management Is responsible for hiring personnel Advertises and assists in the selection process Facilitates location of people Is involved in personnel development and performance Employee discipline and terminations HRM objectives Motivation to maintain profitability and flexibility for long-term business survival by achieving: organisational productivity increased quality of work improved quality of working life statutory and legal compliance HRM activities Determine rates of pay Maintain employee details Determine employee authorised deductions Develop and enforce appropriate human resource policies Provide advice and information on HR issues Rates of pay The reward for labour may be based on: Supply and demand (high-income earners) Award rates minimum wage rates and conditions set out in a legal document Independent negotiations for employees not covered by awards Maintenance of employee details Permanent information kept on a record card: permanent records include full name, date of birth ,award, position etc. Payroll register and earnings records: also details of wages paid to date in current payroll period Employee authorised deductions Employees may request a portion of their remuneration be periodically remitted to an organisation or agency on their behalf Examples: private medical fund payments mortgage payment rent union fees etc. Payroll cycle business activities . | The payroll cycle Learning objectives To learn about the human resource management (HRM) business activities and the payroll cycle business activities. To learn to flow chart HRM business activities and payroll cycle business activities. To understand the processing of HRM and payroll cycle transactions using computers. To know the control practices and procedures in HRM and the payroll cycle. key terms annual leave awards clock card employee earnings record human resource management leave loading long service leave payroll register payroll tax rate of pay sick leave time sheet Human resource management Is responsible for hiring personnel Advertises and assists in the selection process Facilitates location of people Is involved in personnel development and performance Employee discipline and terminations HRM objectives Motivation to maintain profitability and flexibility for long-term business survival by achieving: organisational productivity increased quality of work improved .
