Advanced Payroll Preparing and Analysis Practical Workshop

Learning how to explain the HR and accounting & finance functions contribute to their success according to prepare the monthly payroll and review it for accuracy, also by calculate taxes, social insurances, employee benefits, loans vacations and End of Service Benefits (EOSB).

In another hands, reconcile payroll with accounting and audit the supporting documents for payments, develop monthly and annual payroll budgets and design periodic payroll management reports and analysis. With printed material for practicing.

Training Outlines

INTRODUCTION:

Introduction to the HR function.
Introduction to accounting and 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.

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.
Calculating Social Insurance deductions.
Calculate Taxes deductions.
Access to employee benefits.
Reporting on loans status.
Calculating end of service benefits for company and employees.
Reporting on benefit plans.

Payroll Analysis:

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.
Auditing the payroll.

PUDGETING:

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.
- 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.

Advanced Payroll Preparing and Analysis Practical Workshop