How technology has changed the payroll function

Article Abstract:

Payroll departments have been dramatically transformed by technological advances. The comptometers, typewriters and clerks performing routine functions of the past have given way to fax machines, computers, CD-ROMs and payroll employees who must be more educated and highly skilled to meet the demands of the business environment. Payroll departments no longer deliver paychecks, but can electronically send employees' pay to whatever accounts they choose. Employees can then move their funds around using the telephone, ATMs or other technological innovations. Payroll automation is a win/win arrangement because it gives employees convenience while allowing companies to avoid the time-consuming work of reconciling checks. In addition, payroll professionals are able to eliminate other nonvalue-added activities in their departments.

Wage Administration, Compensation management, Finance departments

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What automated expense reporting management can do for you

Article Abstract:

Accountants should consider the benefits of automating the travel and entertainment (T&E) reporting and reimbursement processes of their company. Companies that automate their T&E processes can reduce costs from an average of $25 to $1.75 per report as well as eliminate the $40,373 spent on T&E processors annually. However, several factors should be considered when selecting T&E software. These include the software's ability to accomodate policy changes, provide improved financial control, client/service and intranet capabilities and the availability of technical support. Accountants can also determine the cost-savings for automating T&E processes by multiplying the total number of reports processed each year by $22.

Accounting and auditing, Cost accounting, Travel costs, Managerial accounting

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