- Payroll management ensuring that the correct amount of wages is calculated for each employee based on their hours worked, overtime, bonuses, and any other applicable factors.
- Proper payroll management includes maintaining accurate records of all payroll transactions, including employee wages, deductions, tax filings, and any other related information. These records are important for financial reporting and auditing.
- Mypayroll Expense management is the process of tracking spending on employee-related expenses and administering programs to manage and reduce costs.
- This includes monitoring spending for recruitment, staff training, new hire onboarding, compensation, employee travel, and other expenses.
- The objective of expense management in HR is to provide the highest value for each expenditure while maintaining a healthy work environment.