8. Outputs from the payroll system
A payroll system will produce a number of outputs. These are:
A payslip
Payslips are produced either weekly or monthly depending on the frequency that staff get paid.
The payslip uses pre-printed stationary so that data just needs to be printed into the correct space e.g. employee name, number, tax, National Insurance payments.
A template is used so that all of the details are printed in the same place each month.
An exception report
This is produced during the payroll run. It details any errors which occurred and which need to be fixed manually.
Transfer of money
The salaries are automatically transferred from the business bank account into the employee's bank account.
Tax and National Insurance deductions are transferred from the business bank account and sent to the appropriate Government departments
Challenge see if you can find out one extra fact on this topic that we haven't already told you
Click on this link: Payroll payslips