Payroll accounting in an organization is important but cumbersome, given the fact that there are many employees in an organization enjoying equally diverse emoluments. It consumes a lot of valuable time and energy of management in calculating and maintaining financial records.

Calculations often are multifarious, which may comprise of salaries, wages, commissions, bonus, overtime pay, pay for holidays, vacations and sickness, payment for piece work, value of meals, and lodging and other perks. Any delay in disbursement of salaries is best avoided as it leaves the employees dissatisfied and cheated.

Pay roll accounting is rendered an easier job when expert chartered accountants handle it. As payroll accounting in any company is based on objective criteria, like time cards/ sheets etc., the company hardly has to worry about calculations and issue of pay checks to staff members. All the company is left to do is to update any changes in pay rates and deductions of individual emp-

loyees thereof, whenever the need arises. No surprises, organizations are increasingly moving towards outsourcing of their payroll accounting.

Outsourcing of payroll accounting is any day a good idea as it has many advantages. Besides enabling management to concentrate on more crucial issues than dispensing salaries, wages and commissions to employees, outsourcing of payroll accounting allows an organization to utilize services of highly committed professionals for a much lower price than it would have cost had it employed them full time. The cost-effectiveness is coupled with least paper work, substantial time saving and much higher accuracy to the extent of zero-error functioning.