Browsed by
Month: June 2021

How Does a Payroll Software System Work?

How Does a Payroll Software System Work?

Every employee waits for their paycheck at the end of the month. The process of preparing their salary can be a tedious process. Payroll can be more challenging to handle when the company is growing and accommodates more and more employees.

There are ways, however, to effectively manage the company payroll. Many of today’s organisations have started using payroll software systems to make accounting for employees’ salaries more accurately. With a payroll software system in place, employees get their salaries without delay or computation errors.

Features of a payroll software system

A payroll software system in Singapore has various functions. Back when they were first developed, their main function was to keep records of payroll for documentation and auditing. Additional features were later included, such as calculation of wages and deductions, and linking to bank accounts for automated deposits.

Among the most common features of payroll software systems are:

payroll software system in Singapore

  • Documenting payroll entries – payroll begins by enlisting employee records. These include their name, salary grade, deductions, wage computation, and schedule of payment release. Having these on record is very important because it helps the company track its expenses per employee. Payroll records are also brought out and examined during internal and external audits, to ensure that the company is paying its employees and complying with tax regulations properly and regularly.
  • Input of variable data – while employees may be in the same salary grade, the pay they receive may differ due to deductions, leave credits, tax category changes, etc. Using a payroll software accommodates these changes to be made, without distorting the manner of computing the employee’s salary.
  • Implementing government policies on employee salaries – employees are required to pay taxes, and these are deducted from their gross salary. Companies who do not use automated software compute taxes and other deductions manually, so the results leave room for error.

Computation errors can be avoided with a payroll software system in use. The person in charge of preparing salaries can then input the necessary tax formulas applicable to each employee. This way, everyone in the company not only gets their salaries, but also pays their taxes without the unwanted hassle.

  • Direct deposit -There are payroll software systems that can also be linked to bank accounts for direct deposit. This feature is common in systems designed for big businesses, such as companies with more than 50 employees.
  • The direct deposit helps speed up the payroll process. Employees receive their salaries in their bank account instead of falling in line at the HR office during payday.
  • Compensation administration – payroll software systems can also be used to account non-traditional methods of pay. There are instances when compensation is computed not based on hourly wage, but on a fixed rate, per-project basis, and these should also be accounted for. Compensation management is likewise made easier using a software system, since it can also compute bonuses, adjustments, changes in minimum wage, cost of living, etc.
  • Self-service features – payroll software in Singapore are also equipped with self-service features. Depending on the level of access, employees can check their respective payroll accounts, such as logged hours during a particular cut-off period, salary deductions, available leave credits, and paycheck updates. They can also file disputes for spotted errors on salary computations, or access payroll forms on their own.

Addressing the Criticism Against Technical Analysis in Forex Trading

Addressing the Criticism Against Technical Analysis in Forex Trading

When Forex trading is concerned, technical analysis will always be part of the topic. It is also one of the most common issues being tackled. For investors who are more traditional, they tend to reject the idea of price chart positioning. In this article, we are going to tackle the issues and criticisms that are being made by several traders about technical analysis.

Fundamental Gaps

One common criticism thrown towards technical analysis is the loss of focus towards the fundamental analysis when a technical analysis is used to determine the right position of the trade. Most of the time, the facts shown in technical analysis differ from fundamental analysis. This is also possible when trading in MetaTrader 4. Most of the time, technical analysis counters this because, in fundamental analysis, it is hard to find the right entry points when buying and selling assets in the financial market.

Unforeseen Volatility

In addition to fundamental gaps, there are also instances in which a technical analysis was not able to alert a trader during extreme volatility. To resolve this issue, the trader will have to use financial new developments for them to fully understand the cause of the extreme volatility.

If traders fail to understand the cause of this volatility, then it becomes totally hard to determine when these movements can last. If this happens just for a short while or if this will be a long-term situation, you must be able to determine it without fail. These questions are most not addressed by regular traders.

Combination of Techniques

Both technical analysis and fundamental analysis have their own strength to boast. Fundamental analysts tend to use several charting techniques in combination with fundamental assessment when it comes to the underlying asset’s strength. So, if you are planning to use these tools, it is better to settle on the best trading platform for Forex trading. This is none other than MetaTrader 4.

MT4 offers a good amount of technical indicators and promotes automated trading to suit the time that the trader can allocate on trading. Automated trading is very efficient nowadays as it offers convenience to traders who are not able to stay in front of their monitors all day. With automated trading through the use of Expert Advisors in MT4, trading opportunities and constantly found.

Expert Advisor (EA), also known as Forex robots, monitors your trades and notifies you whenever there are potential trades according to the conditions set by the trader. Why should you use EA? It is accessible, time-saving, promotes emotionless trading, flexible, and allows backtesting.

Just to ensure that your EA is working in the best possible condition, you should backtest it using the MT4 demo account. You won’t be wasting funds, your account is protected from risks and you can test your EA before you use it in the live market. Running your EA in MT4 is also very easy. All you have to do is to install it like when you use it in the live market.

Play Online Games and Gain a Free Bitcoin

Play Online Games and Gain a Free Bitcoin

A cryptocurrency is a digital form of money that is gaining immense popularity. Every netizen is inclined towards investing their bitcoins digitally. Long-term investments are said to be highly beneficial. Money is widely accepted and is a medium of exchange.

Bitcoin is a type of cryptocurrency. Anyone who holds the bitcoin is said to be the owner of it. The chances of stealing or losing digital money are merely impossible. This digital money can be downloaded.

What are the features of a Bitcoin?

  • It is decentralized.
  • There is no issuing authority of bitcoins.
  • They can be easily transported and are accessible anytime anywhere.
  • A lot of business owners have now started accepting bitcoins to carry out business practices.
  • They are secured and safe.
  • They are prevented from any sort of censorship and demonetization.
  • They are capable of making smooth payments than debit and credit cards.

Various websites offer discounts and offer to investors. Investors can now easily gain a free bitcoin every hour. There are online games that help one in gaining bitcoins. The mathematical techniques are combined with bitcoins for easy and fair understanding. This payment network leaves no space for authorized banks to enter and hinder online activities.

Online players can multiply their number of bitcoins easily. There are weekly lotteries, jackpots, and bonuses for the players who stay connected for a longer time with the game.

How can one earn bitcoins?

  • Through online bitcoin exchange.
  • By paying for products and services virtually.
  • By exchanging bitcoins with other investors.
  • By mining competitively.
  • Playing online games.

Earning and losing bitcoins is not an easy task. It requires a great amount of determination and in-depth knowledge. The freedom of carrying out financial transactions is granted completely. There are no limits to making payments through bitcoins in a day.

The personal details of the bitcoin holders are not required and thus, it prevents them from malpractices and risks. Unnecessary transactions and charges are eliminated while possessing bitcoins. Free bitcoins can be earned over the internet instantly. But it is recommended that one should follow all the rules and regulations before entering into the world of bitcoin trading and exchange.

Bitcoins are yet to receive full acceptance. To make bitcoin a more accessible and convenient mode of transactions, it is upgrading its features, tools, and techniques. Currently, bitcoins and other types of cryptocurrencies are striving hard to become completely matured and recognized.

Playing with Lego can be Serious Business

Playing with Lego can be Serious Business

Toy Sales are growing with grownups opting for them, giving solace to consumers and manufacturers alike. The grown-up taste for playing with toys has given toy manufacturers confronted with bashful sales a new lifeline. Play has the capability of bringing parents and children closer. Having said that, Lego has its dominant audience in adults and this is even though many of these adults have no children. This leads us to what is known as Lego serious play. 

A methodology in which people use the lego bricks in order to pursue a sequel of structured activities to build stuff that represents illustratively their business and personal challenges is Lego serious play.

This technique helps teams in becoming more effective by stimulating reflection, sharing, and creativity. During the sessions, teams create metaphors while playing with the Lego bricks. This approach is developed to enhance experimentation and innovation that leads to better business performance.

A facilitator from Lego serious play offers consultant service, his goal is to nurture creative thinking by team building analogies of their managerial dispositions and experiences with the help of lego bricks.

Who can benefit from Lego Serious Play 

Anybody can use this methodology to benefit from it. It is open-source, which means whoever likes to embark on it is more than welcome to do so. All you need to do is buy Lego bricks, read the guide or watch videos to know the technique. If you are someone who wants in-depth knowledge of it, you can attend some training sessions.

It facilitates meetings, problem-solving, and communication. It is applicable in almost every situation, especially when it is important to overcome a thinking pattern or in a situation where the highest level of knowledge is required. More than often these delegations are on a team level or a strategic level.

Lego serious play has 4 core steps. Let us take a closer look at these steps.

Core step 1. Posing questions 

A challenge or rather a question is posed by the facilitator.

Core step 2. Creating personal models 

The answer to the question posed by the facilitator should be in the form of something that is built using Lego bricks. The bricks have been made in such a way that they motivate everyone in story making and using metaphors.

Core step 3. Model sharing 

Everyone shares their models. This makes sure that there is 100% participation and distribution of knowledge.

Core step 4. Model Reflection 

Everyone is encouraged to share their insights and clarifications regarding the model.

These core steps ensure that everyone thinks to get an answer and voice it. It stimulates thinking and makes you aware of the knowledge that you never knew existed.