Payroll – Preparation, Analysis And Management

Category: Payroll – Preparation, Analysis And Management

Course Description

Course Objectives

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

  • Determine the needed documentation in the payroll cycle.
  • Prepare and reconcile the monthly payroll.
  • Calculate contributions based on different assumptions for employer and employee.
  • Perform “What If” analysis related to employee benefits.
  • Develop monthly and annual payroll budget.
  • Design periodic payroll management reports and analysis.
  • Assist the accounting department in controlling and auditing payroll payments.

Course Outline

  • Introduction to the HR Function
  • Introduction to Accounting Function
  • Importance of Payroll Function as a Link between HR and Accounting
  • Understanding the Hiring Process Documentation
  • Managing Payroll Process for: 
  • Contract Professionals
  • Full Time Employees
  • Temporary Help
  • Outsourcing
  • Looking for the Right Controls before Starting
  • Determining the Right Calculation Basis for Payroll
  • Elements of Risk Leading to Payroll Mistakes
  • Managing Increments, Deductions and Payroll Approvals
  • Preparing Payroll Schedules
  • Controlling Access to Loans
  • Reporting on Loans Status
  • Calculating End of Service Benefits for Company and Employees
  • Reporting on Benefit Plans
  • Recording Payroll Expense and Liabilities
  • Recording Payroll-Related Contributions and Liabilities
  • Reconciling Receivables from and Payables to Employees with Payroll Department
  • Reconciling Liabilities with Social Security and Other Governmental Agencies
  • Reconciling Payments with Bank Accounts Transactions
  • Budget for Payroll Department Expenses
  • Prepare the Yearly Budget for Payroll and Contributions for the Company
  • Budgeting for Employee Loans and Other Benefits
  • 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 Labor
  • Reporting to Social Security Authorities
  • Reporting to Other Regulatory Agencies