Most companies generally use the term Payroll to refer to the money that is paid to the employees or the records that detail how much each employee has made. Processing payroll is a very important function of any business and necessitates an understanding of current regulations, detailed tax knowledge to ensure proper withholding and filing, and a highly organized system that can be relied upon to pay each employee the right amount of money. As the salaries are usually the major part of companies’ expenses, it is of crucial importance to analyze and manage the payroll preparation process.

COURSE OBJECTIVES

By the end of the course the participant should 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

DURATION

5 Days

WHO SHOULD ATTEND

Payroll staff, payroll accountants, account assistants, payroll supervisors and managers, HR professionals and team members who handle payroll as well as any employees interested in understanding and applying payroll best practices.

COURSE OUTLINE

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 the payroll process for:
  • Contract professionals
  • Full-time employees
  • Temporary help
  • Outsourcing

Preparing and calculating payroll

• Determining the right calculation basis for payroll
• Elements of risk leading to payroll mistakes
• Managing increments and deductions
• Payroll approvals & schedules

Employee loans and benefits

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

Accounting and auditors roles in the 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 payables 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

Payroll budgeting

• Budgeting for payroll department expenses
• Preparing the yearly budget for payroll and contributions for the company
• Budgeting for employee loans and other benefits

Reporting payroll and contributions

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