This course provides an overview on how to process payroll from provided data using manual and computerised payroll systems.
How to process payroll?
Payroll processing is one of the most important functions of any organisation. Payroll clerks have tough time computing pay by reviewing employee work charts, timesheets, and timecards. Large organisations keep automated timekeeping systems. The payroll clerks must keep themselves updated with changes in tax and deduction laws, so they are aware of the most recent revisions. Pay calculation involves a lot many factors like contributions to retirements, insurance, saving plans, taxes, annual leaves etc. This course is a clear and concise guide that pays attention to every factor to detail. The course covers up:
• How to record transactions in payroll accounting?
• How to record transactions in various types of payroll journals?
• How to calculate withholding portion?
• Which source documents needs to be retained?
• How to incorporate leave availed into the pay calculation?
• What happens if an organization temporarily closes down?
• How to resolve conflicts?