- Slides: 12
7 Eleven Past Present Future
The Past • 7 Eleven, Inc was founded in 1927 in Dallas. • The name originated in 1946 because the store was open from 7 am to 11 pm.
Human Resources: Payroll • Payroll was done by hand on paper ledgers. • Accountants went by what the time cards of the employees had. • Accountants would multiply the time by the hourly wage for each employee.
Payroll of the Past (the end) • After the wages for each employee was figured out the deductions began. • The accountant would have to know exactly how much to deduct from each check. • By hand the accountant would deduct the social security, medicare, us income tax. • The accountant would then have to write the check and wait for the person that would sign them.
7 Eleven in the Present
Human Resources of the Present: Payroll • Employees enter their time into a computer. • The computer automatically adds up each employees’ regular weekly hours. • When the time comes to do payroll, the computer automatically knows how many hours and at what rate it is to multiply by to figure out each employee’s time.
Today’s Payroll Continued. . . • Once a total is figured, the computer computes the deductions it is to take out of the employees’ checks. A new total is figured. • Up to date information can also be given to employees about what they’ve earned so far and how much in deductions has been taken so far.
Today’s Payroll (the end) • Payroll for employees can now be figured out in about an hour because the computer does a lot of the work and also prints out the checks. • The accountant; however, must pay attentions and watch out for any discrepancies computer can make, for example, checks for employees who no longer work there or employees who have gotten a raise but it has not been registered in the computer.
7 Eleven in the Future
Human Resources in the Future: Payroll • Employees will be given an credit card like card that will contain their information: name, date of birth, ssn, address, position, length of time working there, hourly wages, what the wages are so far, and what days they are to show up for work, and at what time. • This card will be scanned when the employees show up for work. It will keep accurate time in and time out.
Payroll in the Future (cont. ) • When the payroll is to be figured, all the accountant will have to do is type in the names of the employees to receive a check. • This computer will figure out the wages and deductions with the click of a button.
Payroll in the Future (cont. ) • Checks will be obtained by having the employee id cards scanned by the computer. A print out of the check will follow. • Accountants will no longer have to chase employees to give them their checks. It will be the employees responsibility to obtain it themselves. • A scan of this card will also provide up to date information on wages and deductions.