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Accounting Best Practices, Fifth Edition by Steven M. Bragg Englewood, Colorado

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Implementation Issues for Payroll Best Practices

For the reader to understand which of these best practices is the right one for a specific situation, it is useful to review the table shown in Exhibit 17.1. This table lists a number of key implementation issues for each best practice. It notes the likely cost and duration of implementation, which is of concern to those companies that may have a short time and cost budget for improvements. The table is an effective approach for quickly determining which projects to work on and which ones to avoid.

Exhibit 17.1. Summary of Payroll Best Practices
 Best PracticeCostInstall Time
Employee Deductions
17–1Disallow prepayments

17–2Create employee self-service for payroll changes
17–3Minimize payroll deductions

17–4Prohibit deductions for employee ...

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