|
Search for More Efficient Payroll Accounting: The Case of The International Pharmaceutical Industry
|
|
| Author:
|
IULIIA ZAUGOLNIKOVA, EKATERINA GOLUBTSOVA, ANNA ZVEREVA
|
| Abstract:
|
Payroll accounting is one of the most important jobs the accounting office of any company needs to do. This is a labor-intensive and time-consuming aspect of accounting, yet it is central to the company’s entire accounting system. From the HR standpoint, pay is the key incentive for the staff. It is one of the factors that the management can exploit to better motivate the staff to work prolifically and efficiently. Being paid well is important for any employee, as it is pay that helps cover basic human needs. An error in the payroll might compromise pay as an incentive, which will negatively affect staff involvement. This is why most Russian companies are interested in optimizing their payroll system to better incentivize the staff. However, optimization efforts are often designed to reduce the total production and sales costs, as staff-associated expenses make up a great portion of those. This paper overviews the most common mistakes and difficulties that hinder the efforts to optimize payroll accounting. The recommendations it draws up are based on international experience.
|
| Keyword:
|
pay; payroll accounting; economics; payroll efficiency; HR management.
|
| EOI:
|
-
|
| DOI:
|
https://doi.org/10.31838/ijpr/2020.12.04.576
|
| Download:
|
Request For Article
|
|
|