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