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General Features

The LEAD Payroll System is designed by a of team accountants, consultants and programmers with collective expertise in Finance, Accounting, Auditing, Treasury, Human Resource, Business Operations, Database management and Programming.  To provide a holistic solution to business concerns, the team crafted an payroll system with the following features:

  • Compliance with Philippine Taxation and Labor  Laws. Applicable labor and taxation laws were considered in the design of the Payroll system.
  • Benchmarked with best practices in internal controlsApplication controls were embedded in the software to supplement the general accounting controls.   The best practices in internal accounting controls and processes were given the priority considerations in the design of the system.
  • Integration ready. The payroll system is ready for integration with the accounting and budgetary systems development the company.
  • Controlled access privileges. Access of every user to reports can be defined and restricted, in accordance with company policy, to protect confidentiality of information.
  • Simplified and Flexible.System procedures and processes are adaptable to  the varying needs, size and nature of operations  of companies from different industries.  It also uses uniform graphical commands for all systems developed by the company to ensure ease of use.

Services

In accordance with our commitment to provide value added service to our clients, our financial/accounting consultants will provide assistance during the implementation stage , to include:
  • Review of accounting procedures and practices of the client for the purpose of identifying significant control deficiencies; and to provide informal consultation with management on how to address these deficiencies.
  • Coach direct users to maximize their efficiency in the use of the LEAD Payroll System.
  • Provide training for administrators on embedded application controls and how they relate to general controls.

Components of the LEAD Payroll System

The LEAD Payroll system has three major components: (1) System Administration modules, (2) Transaction modules and (3) Reports module.
  • System Administration Module.  This module allows administrators and supervisors to:
    • Assign and restrict access of users.  Every user may only access and view reports in accordance with management specifications.
    • Control master files.  Only authorized officers may add, delete or update critical information such as, official chart of accounts, accredited suppliers and customers, credit terms, etc.
    • Designate authorities.  Rights to approve and review transactions can be designated to officers in accordance with company policies.
  • Payroll  Transaction Modules.  Financial transactions are recorded using this module.  In accordance with the international standards of accounting,  applicable laws and regulations, transactions are categorized using five separate modules.
    • Time Records
    • Earnings
    • Deductions
    • Payroll generation
    • Report generation for company use and for compliance with regulatory requirements
  • Payroll Reports Module.  Reports can be viewed and printed from this module. Reports that can be generated from this module follows:
    • Time Records History and Analyses
      • Individual time sheets
      • Summary of time records per department for every payroll period
      • Summary of individual time records over a given time period
    • Payroll Summary Reports
      • Payroll register
      • Departmental payroll cost summary for cost allocation and accounting purposes
      • Payroll bank advise list
      •  Individual Payroll Related Reports
      • Pay slip showing details for earnings and deductions
      • Details of gross compensation computation with information on regular, overtime and premium  pay for ordinary working days, legal and special holidays, rest days, working hours subject to pay differentials.
      • Details These include special journals for Cash receipts, Cash disbursement, Revenue and receivables, Purchases and payables and General Journal. Each book provides a summary of entries for the period covered.
    • Customized analyses and schedules
      • Users may create customized analyses and schedules by extracting the transaction listings, ledgers or reports to Microsoft Excel.
    •  Regulatory Reports on Contribuitons and Remittances
      • SSS, Medicare and ECC
      • Pag-ibig (HDMF)
      • Withholding Taxes
      • Alphabetical list of employees from whom taxes were withheld