Payroll Management and Effective Payroll Controls

Payroll Management and Effective Payroll Controls

OBJECTIVES

• How to effectively run a compliant payroll office
• Practical payroll implementation
• How to generate information and reports for internal and external use
• How to plan, organize, implement and monitor work within the payroll environment
• Data processing using software
• Integration of payroll into the HR and finance departments
• Mitigating risk and implementation of controls
• Performance of internal and external payroll audits

WHO SHOULD ATTEND?

• Payroll administrators who wish to enhance their payroll knowledge and application
• Human Resource professionals who wish to gain a better understanding of the payroll system and how it is integrated into the corporate human resource environment
• Accountants who wish to diversify their skillset for career progression

COURSE OUTLINE

Day1 – Payroll Environment

• Types of payroll systems
• How to effectively run your payroll department/office
• The acts that govern payroll
• Integration with company policies
• Responsibility of the payroll administrator
• Internal payroll audit

Day2 – Practical Payroll Implementation

• The key steps involved in payroll activities.
• Creating cost centers, pay points and job codes
• Maintaining employee data
• Processing leave
• Setting up payslips and ensuring regulatory compliance
• Capturing overtime and additional payment information
• Making amendments and accounting for specific transactions
• Updating to new pay period and month-end procedures

Day3 – Payroll Management

• Definition of an employee and how an employee designation impacts payroll
• Employee time management and tracking
• Employee compensation
• Additional employee benefits
• Types of deductions and why they are used
• Ethical considerations in the payroll function
• Linking payroll with the HR (Human Resource) function
• Setting up your payroll division

Day4 – Corporate Integration

• Linking payroll with company finance department
• Recording of payroll transactions in the accounting records
• Application of payroll accruals
• Common payroll measurements and how they are used
• Contents of the various payroll reports and how to use them
• How to utilise payroll reports for problem solving
• Payroll and external audit procedures

Day5 – Effective Payroll Controls

• Protection of personal information
• What are internal controls?
• Identifying risks in the payroll cycle
• Implementation of payroll controls
• Evaluating payroll controls
• Outsourcing arrangements and responsibilities
• Common mistakes and how to avoid them