Employee costs from payroll and other benefits are among the largest costs
in any company other than the Cost of Goods Sold (COGS), rent and
depreciation. If you are in a goods producing organization and this cost is
part of your COGS or part of your operating costs it means the effect on you
will be doubled. Having these costs processed and reported properly is key
for analysis and decision making. This course starts with introductions to the
departments of HR and 'accounting and finance' and then focuses on the
payroll function. The course goes through the process of preparing and
calculating payroll which includes the controls needed and the pre-checks
necessary to make sure correct data is used. The course enforces the
knowledge of controls and proper processes in the work flow to achieve
better efficiency in the department. The course then discusses employee
benefits and their effect on the corporation and explains how to conduct
analysis on payroll and benefits using Excel. In addition, the course
highlights the topics of accounting, internal and external audit relations
with HR and payroll specifically, and what data could be required by them.
The course then stresses the need for confidentiality in the payroll
department and the importance of sharing data with others on a need to
know basis or as per corporate policies. The course ends with a how to
prepare a budget for the department and a bigger budget for payroll and
benefit costs in the corporation.
Payroll staff, payroll accountants, account assistants, payroll supervisors and
managers, HR professionals and team members who handle payroll and any
employees interested in understanding and applying payroll best practices.
Planning, budgeting and cost
Payroll preparation and
Payroll analysis and reporting
Payroll accounting and account
The course relies on presentations and examples by the consultant.
Participants will be expected to do Excel exercises for payroll and
benefits, group workshops and presentations.
By the end of the course, participants will be able to:
Describe the needed documentation in completing a payroll cycle
Prepare and reconcile the monthly payroll
Calculate contributions based on different assumptions for employer and
Perform 'what if' analysis related to employee benefits
Develop monthly and annual payroll budgets
Design periodic payroll management reports and analysis
Assess the accounting department in controlling and auditing payroll