Which of the following is NOT a benefit of the electronic transfer of payroll funds?
A)Ensures the timely deposit of funds into employee bank accounts
B)Eliminates the need for an independent paymaster
C)Removes the need for bank statement reconciliations
D)Saves time and check-cashing fees for employees

Question

Quizplus · Accepted Answer

Electronic transfer of payroll funds does not remove the need for bank statement reconciliations. The employer still needs to reconcile the payroll account to ensure that the correct amounts were transferred and deposited into employee accounts.

Which of the Following Is NOT a Benefit of the Electronic