Payroll Fundamentals Ch. 2
Comprehensive Questions
(Frequently Most Tested) with
Verified Answers
‘
A successful payroll system must: - Answer: Provide for compliance with federal, state, and local
withholding, depositing, and reporting requirements
Issue timely and accurate paychecks, direct deposits and other disbursements
Prepare reports
Maintain adequate records of all data and transactions
Be secure
ERM stands for what? - Answer: Enterprise Resource Management Systems
What is ERM used for? - Answer: Large companies typically use enterprise resource management (ERM)
systems to manage all their assets and resources, including general ledger, accounts payable and
receivable, as well as manufacturing, inventory, and human resources. These systems generally include
the ability to process payroll.
Types of ERM systems used at AON - Answer: hosted and SaaS
Hosted - Answer: Hosted systems are maintained on servers by Aon Hewitt or our client. These systems
can be customized to meet the needs of a client. New, updated versions of the systems may come
available, but to begin using the new version, the client must purchase it and convert to using it.
, Saas - Answer: stands for software as a service - these systems are maintained "in the cloud" by the
company that developed the software and clients access the system via the internet. These systems
cannot be customized, but can usually be configured to meet most, if not all, the needs of a client. As
new, updated versions of the system come available, all clients using the system are provided with the
new functionalities.
Saas platform examples: - Answer: PeopleSoft, SAP, Employee Central, Workday, Oracle Cloud
Batch processing - Answer: Work to be processed is held and grouped then processed
Not necessarily interactive
Typically more cost-effective
Real-time processing - Answer: Processes are performed as data is entered
-Records are updated, calculations are performed
Results are available immediately
ESS and MSS (employee and manager Self service) - Answer: Employees and/or managers have access to
enter data and/or view data
Interfacing - Answer: where two systems meet- data needed by both systems is shared
Interfacing: The following internal and external systems generally have a direct interface with payroll: -
Answer: Human Resources
Benefits
Data collection
Comprehensive Questions
(Frequently Most Tested) with
Verified Answers
‘
A successful payroll system must: - Answer: Provide for compliance with federal, state, and local
withholding, depositing, and reporting requirements
Issue timely and accurate paychecks, direct deposits and other disbursements
Prepare reports
Maintain adequate records of all data and transactions
Be secure
ERM stands for what? - Answer: Enterprise Resource Management Systems
What is ERM used for? - Answer: Large companies typically use enterprise resource management (ERM)
systems to manage all their assets and resources, including general ledger, accounts payable and
receivable, as well as manufacturing, inventory, and human resources. These systems generally include
the ability to process payroll.
Types of ERM systems used at AON - Answer: hosted and SaaS
Hosted - Answer: Hosted systems are maintained on servers by Aon Hewitt or our client. These systems
can be customized to meet the needs of a client. New, updated versions of the systems may come
available, but to begin using the new version, the client must purchase it and convert to using it.
, Saas - Answer: stands for software as a service - these systems are maintained "in the cloud" by the
company that developed the software and clients access the system via the internet. These systems
cannot be customized, but can usually be configured to meet most, if not all, the needs of a client. As
new, updated versions of the system come available, all clients using the system are provided with the
new functionalities.
Saas platform examples: - Answer: PeopleSoft, SAP, Employee Central, Workday, Oracle Cloud
Batch processing - Answer: Work to be processed is held and grouped then processed
Not necessarily interactive
Typically more cost-effective
Real-time processing - Answer: Processes are performed as data is entered
-Records are updated, calculations are performed
Results are available immediately
ESS and MSS (employee and manager Self service) - Answer: Employees and/or managers have access to
enter data and/or view data
Interfacing - Answer: where two systems meet- data needed by both systems is shared
Interfacing: The following internal and external systems generally have a direct interface with payroll: -
Answer: Human Resources
Benefits
Data collection
