Payroll-Preparation-Analysis-Management

OBJECTIVES

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

• Explain how the HR and accounting and finance functions contribute to their success
• Prepare the monthly payroll and review it for accuracy
• Calculate employee benefits, loans vacations and End of Service Benefits (EOSB)
• Reconcile payroll with accounting and audit the supporting documents for payments
• Develop monthly and annual payroll budgets
• Design periodic payroll management reports and analysis

COURSE OUTLINE

Day 1 – Payroll: the important link between human resources and accounting

• Introduction to the HR function
• Introduction to accounting function
• Introduction to finance function
• Payroll as a link between HR and accounting and finance
• Understanding the hiring process documentation
• Managing payroll process for:
  • Contract professionals
  • Full time employees
  • Temporary help
  • Outsourcing

Day 2 – Preparing and calculating payroll

• Looking for the right controls before starting
• Determining the right calculation basis for payroll
• Elements of risk leading to payroll mistakes
• Managing increments and deductions
• Payroll approvals
• Preparing payroll schedules

Day 3 – Employee loans and benefits

• Access to employee benefits
• Controlling access to loans
• Reporting on loans status
• Calculating end of service benefits for company and employees
• Reporting on benefit plans

Day 4 – Accounting and auditors’ roles in payroll process

• Recording payroll expense and liabilities
• Recording payroll and benefits costs to assets or inventory
• Recording payroll related contributions and liabilities
• Reconciling receivables from and payable to employees with payroll department
• Reconciling liabilities with social security and other governmental agencies
• Reconciling payments with bank accounts transactions
• Introduction to internal audit and external audit
• Auditing the payroll

Day 5 – Reporting payroll and contributions

• Determining contribution expense for individuals
• Determining corporate contributions
• Reporting results to the accounting department
• Coordinating with accounting department regarding payment process and control
• Reporting to ministry of lobar
• Reporting to social security authorities
• Reporting to other regulatory agencies