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DESIGN AND IMPLEMENTATION OF A COMPUTERIZED PAYROLL SYSTEM
(A CASE STUDY ZENITH BANK)
ABSTRACT
This project is designed to achieve a workable payroll system for SEMA Microfinance Bank, Port Harcourt. To actualize this, an application was designed to create, retrieve, update and delete employee personal and payroll information, the application also has the ability to calculate the employee pay as required by the Human Capital department. This work also compared the manual method of payroll to the electronic method and proffer solutions to the former. It discovered the benefits and limitations of implementing an payroll system in the organization.
TABLE OF CONTENTS
CERTIFICATION ii
DEDICATION iii
ACKNOWLEDMENT iv
ABSTRACT v
CHAPTER ONE 1
1.0 INTRODUCTION 1
1.1 STATEMENT OF PROBLEM 1
1.2. OBJECTIVE OF THE STUDY 2
1.3. SCOPE OF PROJECT 2
1.4. DEFINITION OF TERMS 2
CHAPTER TWO 5
2.0 LITERATURE REVIEW 5
2.1 PAYROLL SERVICES 5
2.2 DIFFERENCE BETWEEN MANUAL AND COMPUTERIZED PAYROLL SYSTEM 6
2.3 ADVANTAGES OF PAYROLL SOFTWARE 7
2.4 THE DISADVANTAGES OF PAYROLL SYSTEMS 8
2.5 OUTSOURCED SYSTEM 8
2.6 IN-HOUSE COMPUTERIZED SYSTEM 8
2.7 IN-HOUSE MANUAL SYSTEM 9
2.8 UNDERSTANDING RESPONSIBILITIES FOR PAYROLL TAXES 9
CHAPTER THREE 10
3.0 ALGORITH AND LOGIC DESIGN 10
3.1 ALGORITHM 10
MAIN MODULE ALGORITHM 10
EMPLOYEE MODULE ALGORITHM 11
PAYMENT MODULE ALGORITHM 12
3.2 FLOWCHART 13
MAIN MODULE FLOWCHART 13
EMPLOYEE MODULE FLOWCHART 14
PAYMENT MODULE FLOWCHART 15
CHAPTER FOUR 16
4.0 CODING AND IMPLEMENTATION 16
4.1 SOURCE CODE 16
4.2 SAMPLE OUTPUT 24
4.3. HOW TO RUN THE PROGRAM 26
4.4. REASONS FOR CHOICE OF LANGUAGE FOR THE PROGRAM 27
CHAPTER FIVE 28
5.0. SUMMARY, CONCLUSION AND RECOMMENDATION 28
5.1 SUMMARY 28
5.2 CONCLUSION 28
5.3 RECOMMENDATIONS 28
CHAPTER ONE
1.0 INTRODUCTION
Payroll, at its most basic, is the process by which an employer pays an employee for work performed. If you own your own business, but don’t have any employees, then you don’t have to worry about payroll. But as soon as you hire your first worker, you have a responsibility to pay that employee on time and the correct amount.¬
If employers fail in their payroll duties, their workers will be less motivated to fulfill their end of the bargain. They’ll be less productive and suffer from low morale. And if you make a mistake on an employee’s paycheck enough times, he’ll probably quit.
From the worker’s perspective, payroll seems like a simple task. But there’s more to it than just signing a check and delivering it to your desk. An employer must make sure that the proper taxes are withheld from each paycheck and that those funds are paid to the right government agency at the right time. Complicated tax forms must be filled out and filed on an annually, quarterly, sometimes even weekly basis. Missed deadlines and improper tax filings can result in steep fines and even jail time.
Payroll duties can be a real burden on a small business owner. Instead of focusing on product development, customer service and other important business tasks, the boss is stuck in the back with a calculator and a stack of employee information forms. That’s why all businesses, and especially small businesses without their own accountants, need a reliable, effective and easy-to-use payroll system.
It is possible to handle payroll responsibilities with a pen, ledger sheet and calculator, but nowadays most business owners use¬ either outsourced payroll service or computerized payroll software.
¬What are the features and functions of a good payroll system? What are the advantages and disadvantages of computer software versus a full-service payroll provider? And how do you choose the best system for your business? This research work will focus on these aspects of a payroll system.
1.1 STATEMENT OF PROBLEM
In SEMA Microfinance Bank, Port Harcourt, payroll responsibilities are handled with a pen, ledger sheet and calculator by a single employee of the Human Capital department at the end of every month. This process has the following disadvantages:
1. Expensive on the long run: At the start manual payroll systems seem inexpensive, but on the long run, with the continuous purchase of physical materials the process becomes expensive.
2. Time consuming: It requires a lot of time to process, whatever you save on start-up costs will probably be eaten up by the amount of time it takes to process payroll.
3. Prone to errors: it’s very easy to make mistakes when processing payroll manually, and the penalty for mistakes, especially mistakes in taxing and deductions, can be very costly.
1.2. OBJECTIVE OF THE STUDY
The aim of conducting this research is to view and analyze the present manual method of payroll in SEMA Microfinance Bank, Port Harcourt. Proffer solutions to eradicate the manual system. Therefore this research is aimed at designing a Payroll System that will achieve the following:
1. Reduce the use of hard copy documents
2. Increase delivery time
3. Reduce cost at the long run
4. Ease the processing of payroll
1.3. SCOPE OF PROJECT
This research will concentrate on the all departments of SEMA Microfinance Bank, Port Harcourt. The application will be deployed in the Human Capital department where the payroll processing is done.
1.4. DEFINITION OF TERMS
PAYROLL: a list of employees and their salaries or wages or the total sum of money to be paid to employees at a given time
PAY STATEMENT: a printed statement of the amount an employee is paid, showing deductions for tax, social security, and insurance
PAY RATIO: proportion of earnings paid as dividends. The proportion of a company’s retained earnings for a particular period that is distributed to ordinary stockholders as dividends
PAY MASTER: payer of wages, the person who is responsible for paying wages or salaries in a business or government organization
PAYMENT GATEWAY: Internet payments interface, a server or organization acting as an interface between the payment systems of retail seller, acquirer, and issuer with regard to Internet payments (used in e-commerce)
EMPLOYEE: a paid worker
EMPLOYER: person or group that hires workers, a person, business, or organization that hires and pays one or more workers
WAGES: Price paid for labor. Wages consist of all payments that compensate individuals for time and effort spent in the production of economic goods and services.
SALARY: Pay, often expressed in annual terms, usually of non-manual workers. For example, a teacher’s salary might be N15,000 per year. Salaried workers are most unlikely to receive overtime payments, though they may receive bonuses.
SOFTWARE: Is a computer program and associated documentation such as requirements, design models and user manuals. It can be developed for a particular customer or general market.
HARDWARE: Electronic and machinery parts of a computer system.
COMPUTER PROGRAM: Set of instructions that direct a computer to perform some processing function or combination of functions.
LEDGER: Is a book recording the money received and spent on a business, bank etc.
INFORMATION: Facts or details that tell you something about a situation or event etc.
COLLECTOR: Someone whose job is to collect taxes, ticket and debts etc.
TAX/TAXATION: Is an amount of money that you must pay to the government according to your income, goods etc.
VOUCHER: Is an official statement or receipt that is given to someone to prove that their accounts are correct or that money has been paid.
QUERY: Is a question you ask to get information or to check that something is true or correct.
DOCUMENT: Is a piece of paper that gives official written information about something; legal documents.
APPLICATION: A computer program designed to help people perform a certain type of work. An application thus differs from an operating system (which runs a computer), a utility (which performs maintenance or general-purpose chores), and a language (with which computer programs are created).
Complete Material Cost #3,000