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Finance and Accounting Courses

Payroll Management & Effective Payroll Controls




Introduction:

The efficient management of the payroll function is critical for any business with multiple workers. It is a perspective that requires consideration in detail and careful observation of the regulatory conditions. The integration of the payroll role with the finance and HR departments further contributes to the operational administration of a successful company.

This course gives a complete understanding of the principles of payroll management and effective controls with a strong emphasis on practical utilization in the working situation. Whether you are trying to manage these functions in your business or to increase your skills for career improvement, this course will provide you with the skills and knowledge required to perform the active function of payroll management and the effective implementation of controls.

You will find benefit in taking this course by formalizing and renewing your skills and getting the most up-to-date methods and best practices entailed in the payroll role.

Target Groups:

  • Payroll Executives who wish to improve their payroll experience and application.
  • Accountants who wish to expand their skills for career improvement.
  • HR professionals who want to gain a much understanding of the payroll system and how it is integrated into the corporate HR environment.

Course Objectives:

At the end of the course, the participants will be able to:

  • Learn how to run a compliant payroll department effectively.
  • Do practical payroll implementation.
  • Generate data and reports for internal and external use.
  • Learn how to plan, organize, implement, and monitor work in the payroll environment.
  • Learn about data processing using software.
  • Learn about the integration of payroll into the HR and finance departments.
  • Learn about mitigating the risk and implementation of controls.
  • Perform internal and external payroll audits.

Targeted Competencies:

  • Understand the payroll regulatory and compliance situation.
  • Confidence in controlling the payroll section.
  • Skills to recognize risk and perform controls.
  • Ability to integrate the payroll section with the HR and Finance Departments.

Course Content:

Unit 1: Payroll Environment:

  • Types of Payroll Systems.
  • How to Efficiently Run your Payroll Department.
  • The Rules that Govern Payroll.
  • Integration with Organization Policies.
  • Responsibilities of the Payroll Executive.
  • Internal Payroll Audit.

Unit 2: Practical Payroll Implementation:

  • The Key Actions Involved in Payroll Activities.
  • Designing Cost Centers, Pay Points, and Job Codes.
  • Maintaining Employees Data.
  • Processing Leave.
  • Setting up Payslips and Assuring Regulatory Compliance.
  • Gaining Overtime and Additional Payment Information.
  • Making Revisions and Accounting for Specific Transactions.
  • Updating to New Pay Period and Month-End Procedures.

Unit 3: Payroll Management:

  • Description of an Employee and How an Employee Designation Impacts Payroll.
  • Worker Time Management and Tracking.
  • Worker Compensation.
  • Additional Employee Benefits.
  • Types of deductions and why they are used.
  • Ethical considerations in the Payroll Function.
  • Linking payroll with the HR Role.
  • Setting up your payroll department.

Unit 4: Corporate Integration:

  • Linking Payroll among 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 utilize payroll reports for problem-solving.
  • Payroll and external audit procedures.

Unit 5: Effective Payroll Controls:

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