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Question: M2 Module 2: Provision of Effective and Efficient Administration

Contents
Page 3 Introduction
Page 4 - 11 Provision of Effective and Efficient Administration
1. Pay method, procedures and audit
2. Payroll outputs
3. Total quality management
Page 13 Conclusion
Page 14 Recommendations
Page 15-16 Reference List

Answer: 1. Pay method, procedures and audit

i. Pay method
Employees must be issued their contract of employment within the first two months of employment, it must include their pay rate, pay frequency and pay method. Metroline pay their employees by BACS (Bankers Automated Clearing Services) which was introduced in 1968 and takes three working days to clear (BACS, 2016-2018). According to BACS.co.uk, 2016-2018, it is a faster and inexpensive process which enables companies to make payments to employees in a more efficient way. It cuts down on reconciliation as well as providing direct cost saving, paying by cash or cheque can cost the company up to 6 times more. It also allows improved cash flow management to enable companies to see when funds will be leaving their bank account. Another method is cheque payment, these can be either Uncrossed or Crossed. Metroline no longer pay employees u...(short extract)

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  • Subject: Business and Management
  • Course: Management
  • Level: Degree
  • Year: 2nd/3rd
  • Mark: Not available
  • Words: 2605
  • Date submitted: January 07, 2019
  • Date written: April, 2018
  • References: Yes
  • Document type: Essay*
  • Essay ID: 8585

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