payroll processing
Pre-Payroll Processing Section
- Check employee records for accuracy
- Update any changes in personal information or employment status
- Check for any missing or incorrect entries
- Verify hours worked match schedule
- Identify any hours worked over regular hours
- Apply correct overtime rate
- Review any requested changes or bonuses
- Ensure proper approval for adjustments
- Make sure all employees have completed and submitted updated tax withholding forms
- Verify that the information on the forms matches the payroll system records
- Cross-reference employee records with HR data to identify any new hires or terminations
- Input new employee information or remove terminated employees from the payroll system
- Compare employee benefit deductions to the company's benefits policy
- Ensure that the correct amount is being deducted for each employee
- Review time-off requests and unpaid leave approvals from managers
- Update employee timesheets to reflect any approved time off or unpaid leave
- Check employee expense reports for accuracy and compliance with company policy
- Approve eligible expenses for reimbursement and include them in the payroll processing
- Review bonus and commission calculations for each eligible employee
- Confirm that the amounts are accurate before including them in the payroll
- Verify any recent changes to employee salaries or hourly rates with HR records
- Update the payroll system to reflect the new salary or hourly rate for each affected employee
- Check that garnishments and child support payments are being deducted correctly
- Ensure that the correct amount is being withheld from each affected employee's paycheck
Payroll Processing Section
- Access the payroll system
- Enter hours worked by each employee
- Double-check accuracy of data entry
- Use predetermined pay rates for each employee
- Multiply hours worked by pay rate
- Verify calculations for accuracy
- Calculate tax deductions based on employee information
- Deduct other withholdings like benefits or garnishments
- Review deductions to ensure accuracy
- Input banking information for each employee
- Initiate direct deposit payments through the payroll system
- Verify successful processing of payments
- Access reporting function in the payroll system
- Run reports detailing payroll expenses and employee payments
- Save reports for future reference
- Check all calculations for errors or discrepancies
- Compare calculated values to expected amounts
- Correct any mistakes found during the review
- Investigate the source of the discrepancy
- Make necessary adjustments to correct errors
- Document the resolution for future reference
- Compile all payroll data for submission
- Submit payroll information to designated approver
- Obtain approval before finalizing payments
- Stay informed of current payroll regulations
- Regularly review and update payroll processes for compliance
- Seek legal advice if unsure of compliance requirements
- Compare payroll expenses to general ledger records
- Investigate any discrepancies between the two
- Adjust entries to ensure accurate financial reporting
- Generate pay stubs detailing earnings and deductions
- Distribute pay stubs to employees through preferred method
- Answer any questions employees may have about pay stubs
- Compile necessary tax forms and reports
- Submit forms to relevant government agencies by deadline
- Retain copies of all filings for future reference
Post-Payroll Processing Section
- Compare payroll expenses to financial records
- Verify accuracy of payroll transactions
- Check for any discrepancies in hours worked or pay rates
- Ensure all deductions and withholdings are correct
- Provide employees with detailed breakdown of their pay
- Ensure confidentiality and security of pay stubs
- Submit required tax forms to appropriate agencies
- Ensure timely and accurate filing
- Organize and store records in a secure location
- Label records for easy retrieval
- Review all calculations for accuracy
- Double-check totals and amounts
- Investigate any discrepancies in pay
- Take corrective action to resolve errors
- Compile reports detailing payroll expenses and trends
- Share reports with relevant stakeholders
- Record any modifications to employee pay or benefits
- Ensure payroll system reflects accurate information
- Gather feedback from team members involved in payroll processing
- Identify areas for improvement and create action plan
Use in Manifestly