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The payroll module automates the pay process by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic pay cheques and employee tax reports. Data is generally fed from human resources and timekeeping modules to calculate automatic deposit and manual cheque writing capabilities.
They are issued for payroll to individual employees, accounts payable to vendors, to local governments, to taxpayers receiving tax refunds, to recipients of unemployment benefits, and to owners of unclaimed money.
Examples of deferred compensation include pensions, retirement plans, and employee stock options. The primary benefit of most deferred compensation is the deferral of tax to the date (s) at which the employee receives the income.
Example. A simple example of a job stream is a system to print payroll checks which might consist of the following steps, performed on a batch of inputs: Read a file of data containing employee id numbers and hours worked for the current pay period (batch of input data).