The FEPS ACS is a financial program, with the first four letters of its name standing for “Front End Payroll System.” This system is meant to help organizations and companies manage the payroll department of their business. FEPS ACS is a program mainly used by a business’ payroll department, or whoever is in charge of managing all the employee’s financial records, like wages, salaries, bonuses, deductions and such. The system helps to eliminate the old-fashioned paperwork methods that are not being used by most companies anymore. The FEPS ACS system functions like a punch card, which can help the Human Resources department to more easily determine the wages that each employee has earned.
Usually, the human resource department will be the only group of people that will use the FEPS ACS system. Sometimes HR can give access to the FEPS to the payroll department, since it takes care of employee wages and claims. Because of this, the FEPS application isn’t specifically assigned to a single department or person. The company’s management gets to determine who uses the software. Usually, employees will not need to concern themselves with the system at all, unless there are problems in regards to bonuses and claims that they have earned and want to have on record with the company.
The FEPS ACS works to help employees get their paychecks and evaluate the own records of their wages, salaries, claims and/or bonuses. Basically, they have the power to access their own records with the business without having to interact with anyone else. If nothing else, an employee within the company that doesn’t have contact with the human resources department will at least notice a change in how their paychecks are handled, and some other important factors.
The FEPS ACS is entirely internal, so it is inaccessible to those who should not be aware of it. Although it is an internet-based program, each account is only available to those who a company authorizes to use it within the company. It’s not like just anyone can jump on the internet and find out what workers at your company make. This kind of program is traditionally operated using an intranet, so that it is connected to other important company computers, but not to the internet. This is done so that, a company’s payroll information will not need a URL, and cannot be found on Yahoo, Google or any other search engine’s results. This is done to preserve the company’s and employees’ security and safety.
The FEPS ACS can also be beneficial for employees by letting them get their financial reports in a fast and organized manner. This makes it easy for them to keep a record of any fees they may have, and access their earnings information for any reason.
The greatest benefit to using the FEPS ACS, or any similar payroll system though, is that it can keep information clear and available. It is easy to review and use when you need to make critical financial decisions, like getting a loan, or other dealings with banks.