Employee pay procedure manual
Introduction
According to Virginia, (2012), business procedure manual is the main instrument for developing the guidelines of conduct in the company. It passes on the tasks of the proprietor and the workers. Specifically, it protects the rights of the employees and organization interests of the employers. Example of business procedures manual includes financial policies and procedure manual, human resource policy and procedure manual such as employee pay procedure manual among many more.
Employee pay procedure manual
It consists of subsections that outlines the way in which the business intends to supply the employees with payment for the services provided. The first subsection usually outlines the method of payment and expense reimbursement to the employees. This part indicates the method that the company has adopted in remunerating employees, say check payment or cash and the date of payment.
The section also provides the procedure for reimbursing employees for expenses incurred on the behalf of the company. The second section contains details regarding additional compensation if any. This may arise from employee's service rendered outside the normal paying department (University of Georgia system, 2011). The next sections consist of overtime and compensatory time, expenses and other charges and job staffing process.
The above sections of the employee pay procedure manual provide information essential for developing remuneration manual for a typical organization. All the human resource manager need to do is to consider the stipulations of the labor laws and come up with a pay procedural manual that safeguards the interest of the company and the employees (Virginia, 2012).
Outline of sections
1. Accounting principle and definitions
This section deals with generally accepted accounting principles. This includes financial accounting and reporting. It has some subsections that outline how the business can comply with accounting standards. (Sheridan, Kratochwill and Bergan, 2013).
2. Chart of accounts
It consists of subsections which are used in coding scheme for accounts. The system is well designed to allow standard report. Chart account has some subsections. The subsections consists of, funding source code, departments, project indicator, general ledger account and budget period (Hunt, 1994).
3. Purchasing and contracts
It has subsections that consist laws, regulation and policies that govern the business. It has some section that deals with on how to request for purchases. It provides the forms and procedures about the requirement for purchasing the administration expenses.
4. Travel
This section provides rules and regulation on the workers who want to travel away from headquarters. The rules provide a degree of uniformity from the various institutions. It has subsections, that deal with expenses that are reimbursed to for official purposes.
5. Employee pay procedure manual
6. It consists of subsections that outlines the way in which the business intends to supply the employees with payment for the services provided. The first subsection usually outlines the method of payment and expense reimbursement to the employees.
7. Accounts payable
Accounts payable are just similar to the procurement process. The section ensures the fund is budgeted for and purchase order is issued for the goods. In this process, the payment will be made in the bank if it is in cash while debited in payable account.
Capitalization
This section helps to provide an implementation of requirement of reporting. It includes asset category, methods of depreciation, capitalization thresholds and other classes of expenses.
8. Budget process
It is a section that describes the procedures which develops the requests of the annual budget, and processes for making adjustments in the budget annually.
9. Banking and investments
This section establishes and give descriptions on accounts of banking and investment. It helps to manage bank accounts, and to make investments of funds subject to restrictions of laws set.
10. Accounts receivable
This provides a brief summary of the amounts receivable. Accounts receivable help to minimize losses
11. Inventory
It deals with laws on complying with state law to provide the insurance purposes. This helps to maintain control of assets
12. Data governance and management
This section deals with all matters of government.
13. Financial management and information system
This section states that the business must have a financial management system to perform daily finance.
14. Agency finance
This section guides, business I matters of fiscal agents for agency of funds.
15. Enterprise auxiliary funds
These are activities that provide direct and indirect services.
16. Audits
The mandate of audits is to ensure funds are handled well and provide assurance of financial engagement.
17. Affiliated organization
The section describes the minimum requirement that an organization must have with the affiliated businesses.
18. The funds for repairing and rehabilating projects managed by organizations
These are funds used in maintaining the projects of an organization.
19. Miscellaneous expenses.
This section covers small expenses which resulted from fiscal affairs and procedural forms
20. The reports required
It provides the reports that need to be submitted daily.
21. The programs of studying abroad
This applies to organizations that have policies to and requirement to study abroad.
22. Stimulus funds for federal
These are plans to revitalize national economy.
23. The liability management and public private venture
This section allows implementation of the strategic plan. Therefore, organization must comply with all guidelines to allow periodic audits.