The PayrollHero MyClock has been available on iOS for quite some time has just been launched on Android. Now you can download the MyClock Android and use it for clocking in and out of your PayrollHero account.
PayrollHero’s MyClock mobile app is designed for employees that need to clock in and out on their own devices.
What is assuming payroll? Does your company do it? How much does it cost you?
Assuming Payroll
Assuming payroll is a term we use when a company pays employees in advance of the completed pay period, assuming the employee will make it to work between payment and actual calculation of payroll.
For example, Wayne Enterprises pays Bruce a whole month’s salary on January 25 assuming that Bruce will work the next five days. On January 27, Bruce had an emergency situation which led to him missing work. Since he already had been paid, Wayne Enterprises will have to deduct his salary in the next month, to make up for him missing work.
Why is it done?
Since this is clearly a complex way of paying employees, why is it done? Firstly, it gave companies time to go through the tedious calculations for generating payroll. Secondly, back in the day when Wayne Enterprises handed cheques to its employees, Bruce had to go down to the bank and cash it in. Since all companies paid their employees at the end of the month, employees would spend hours at the bank just to cash in a cheque. Paying them in advance solved the problem. The opportunity cost of deducting an employee’s salary next month was far lower than paying after generating payroll.
Today, in the twenty first century, that argument does not hold anymore. Wayne Enterprises uses GIRO and other electronic payment methods to pay its employees. The opportunity cost of deducting from the next month’s salary is now much higher.
Some companies still stick to the old way of doing payroll. When we dug a little deeper and asked our clients why they did it, they said it was because their board of directors had left the rule as it was made many years ago.
Let’s help fix the problem
Our client success head, Kieran Peppiatt, has seen through a number of companies changing their system of Assuming Payroll to the regular kind:
“Many of our customers have seen cost savings by changing from the assuming payroll method to the regular one. It’s more efficient, easier and more accurate.”
PayrollHero calculates deductions but we always advocate doing payroll the regular way. It eliminates any chance of inaccuracy and makes the payroll process smoother for your HR manager. When you have a high churn rate, it is even more important to adopt the regular method.
Download a one page Assuming Payroll info sheet below:
Merry Christmas from PayrollHero! Have a fantastic holiday season!
Below is a video explainer for how PayrollHero can work within your Philippine business. From setting up schedules, to clocking in and out, resolving attendance and generating payroll.
1. Creating employee schedules on PayrollHero
It is quick and easy to setup schedules for your employees. Depending on your business will depend which scheduling tool you use. Our onboarding team will help setup the processes so that your managers can quickly and easily manage their teams schedules.
Clocking in/out via PayrollHero
Clocking in and out on PayrollHero is a breeze. We have TeamClock for iOS and Android as well as the MyClock Web and TeamClock Chrome. We can setup your account to based on your needs.
Clock in/out details are run through thresholds
We automate your time and attendance policy using our thresholds functionality. All clock in and outs are run through the thresholds to make enforcement of your policies easier. We have thresholds for In early, in late, out early, out late, undertime, unscheduled work, duplicate clock in and duplicate clock out.
Resolving employee attendance infractions
Our resolve attendance functionality enables your managers to quickly and easily resolve infractions that fall outside of the thresholds. Most common is missing clock in and overtime. Each click is recorded as to who resolved what infraction and why.
Enroll employee in Government deductions
Add allowances on PayrollHero
Generate payroll
Generating payroll is simple and rules based. Once the time and attendance has been resolved running the payroll is quick. Below is an example of a Philippine payroll being run.
Other questions that you might have?
Have more questions? Feel free to consult our knowledge-base or reach out and our team would be pleased to speak further about your companies specific needs.
Andrés Bonifacio y de Castro (November 30, 1863 – May 10, 1897) was a Filipino nationalist and revolutionary leader. He is often called “the Father of the Philippine Revolution”. He was a founder and later Supremo (“supreme leader”) of the Kataas-taasan, Kagalang-galangang Katipunan ng mga Anak ng Bayan or simply and more popularly called Katipunan, a movement which sought the independence of the Philippines from Spanish colonial rule and started the Philippine Revolution.[1][2] He is considered a de factonational hero of the Philippines,[3] and is also considered by some Filipino historians to be the first President of the Philippines (through the revolutionary government he established), but officially he is not recognized as such.[4][5] *wikipedia
I was asked to speak at The Future of Work Conference in Singapore that Microsoft and Questex put on at the Marriott Hotel the other day. The conference was dedicated to the future of; HR, offices, scheduling, sales, and marketing.
I was asked to speak on the topic of HR and how technology can be an enabler to maximize productivity as well as attract and retain talent. So, I spoke from our experience.
Here is a quick recap:
1. Reasons for Employee Turnover – most reasons employees leave are related to something the company has direct control over.
2. Adventure Engineering – We talked about PayrollHero’s #AdventureEngineering program and why it came about. Basically, we were looking for ways to compete for talent in a highly competitive worldwide market. Here is the video that we made that explains the program:
3. We chatted about how we work to get feedback from our teams, how we have made some products to help our clients do the same and how transparency helps us build our company culture. Some of the tools we talked about were PayrollHero’s DailyPulse, Xray Insights and tools like 7Geese.
4. Finally, we talked about how our jobs page is laid out on our website. How it is very specific about each role, how the company works, the rhythms we follow as well as a few easter eggs that some applicants find and mention in their cover letters.
After I was joined on stage with a few HR professionals for a panel discussion about HR and the future of work.
Singapore’s first Japanese day spa, Ikeda Spa has moved their time, attendance and payroll needs to PayrollHero’s Singapore payroll platform. Co-founder Eric Tan said “I choose PayrollHero for my spa chain as I have stores across Singapore and I was in need of a complete, end to end solution that not only helped manage my time and attendance but my payroll. PayrollHero’s tool was exactly what I need. I wouldn’t hesitate to recommend them to other business owners in Singapore”.
PayrollHero’s platform is built with specific tools for multi-location restaurant and retail chains like Ikeda Spa. Want to learn more? Reach out anytime.
BPO
BPO Executive: Stefan Vermeulen, CEO of D&V Philippines
Executive Interview: Horst von Wendorff from VKWInc.com
Executive Interview: Nicholas Sinclair, President of the Outsourced Accountant
Certified Profile: Clare Matchett, ServiceSeeking Manila
Executive Interview: Simon Meers, Managing Director, Wint & Kidd Inc (Philippines)
Restaurant
Restaurant Executive: Karla Campos, CEO of Dell’s Foodhall
Restaurant / Retail Executive: Claudine Chan-Cobankiat, Kichitora of Tokyo and Qrius
Executive Interview: Russell Yu, IKI Concepts – a Singapore restauranteur talks about bringing his brands into the Philippines and is unique take on attracting talent.
Restaurant Executive: Adrien Desbaillets, President SaladStop! – a Singapore chain talks about opening in the Philippines and his restaurant expansion.
Restaurant Executive: Andrew Masigan, The Advent Manila Hospitality Group – a Philippine restauranteur talks about his experience growing restaurants in Manila.
Carlo Buenaflor, the CEO of Bigg’s, Inc. Carlo operates 15 restaurants in the Bicol area of the Philippines and is the honorary consul of Spain in the Bicol Region of the Philippines.
Retail
Joey Qua, CEO, Collezione-c2.com with 25 branches nationwide and a growing restaurant business.
Eileen Grey, The Picture Company a 9 location retail chain in the Philippines
General
Executive Interview: Rob Nixon, CEO & Founder of PANALITIX
Executive Interview: Mike O’Hagan of Mike’s Manila Tours
David Elefant: Doing Business in the Philippines
Carlos Celdran on the Philippine Business Environment
We continue to profile business owners in the Philippines from all walks of life. From locals to foreigner across the restaurant, retail and business process outsourcing (BPO) industries, each sharing their experience and feedback of operating in the archipelago.
Today, we bring you accounting and payroll BPO executive Stefan Vermeulen, CEO of D&V Philippines.
1. Where are you from and what brought you to the Philippines?
I am born and raised in Nijmegen, a beautiful 2,000 (!) year old small city in the east of the Netherlands, right at the German border. As an internal auditor for Sara Lee in 2000 I was sent to the Philippines to audit the local Sara Lee subsidiaries. I worked on this assignment together with an auditor from EY who 2 years later became my wife. Early 2003 we subsequently moved to the Netherlands. In 2011 we decided to move to Manila because of the business opportunities and to set up D&V Philippines.
2. What does D&V Philippines do?
D&V Philippines is a professional services firm specializing in finance and accounting. Our clients are based in Australia (75%), USA (15%), the UK (5%) and various other countries (Canada, Germany, Netherlands, Sweden, Hong Kong, New Zealand). In addition we have a unit focusing on local Philippine based clients.
3. Who is your ideal client?
For our international business either a CFO looking to outsource part of the finance and accounting function, an accounting firm looking for an extension of their practice in the Philippines, or an entrepreneur seeking to outsource bookkeeping and accounting tasks.
For our local business, foreigners who want to incorporate and start a business in the Philippines. We serve as their gateway to the Philippines.
4. What common challenges do foreigners come across operating in the Philippines
Mainly cultural differences. In my opinion culture trumps everything so it is really important to understand the culture before you start operating in the Philippines.
5. What services do you provide?
Everything you would expect from an accountant or a bookkeeper. Day-to-day bookkeeping like accounts payable/receivable processing, bank reconciliations, expense report processing and payroll processing and the like, but also higher end services like monthly financial close, monthly reporting, management accounting, financial analysis, business analysis etc. In addition various compliance tasks for our target markets Australia, UK and USA. Our niche is finance and accounting so everything within that realm.
Our local unit also includes setting up a corporation or branch, advice on tax incentives and all (annual and payroll) compliance, except statutory audit.
6. What advice would you give an entrepreneur moving into the Philippines, that you wish you knew before moving to the country?
Understand the culture first prior to engaging and starting a business. Invest time to visit and learn about the country.
7. What do your clients like about using PayrollHero?
Cloud based and technology driven product. Easy to use.
8. What do you read to keep yourself up to date with your industry and the clients you are serving?
Professional literature in the field of finance, controlling and accounting.
9. How do you see your industry changing over the next few years?
The job of a bookkeeper will disappear. Manual data-entry, e.g. accounts payable and expense report processing, will be completely automated. The technology is already available in the cloud. As a result it is possible for startups, for instance, to automate all transaction processing from day one.
10. Any other tips for entrepreneurs opening up in the Philippines?
Philippines is a fantastic and great country with a huge amount of talented people…. I suggest that they visit, explore and take time to get to know the culture.