Payroll: Preparation, Analysis and Management

Employee costs from payroll and other benefits are among the largest costs in any company other than the Cost of Goods Sold (COGS), rent and depreciation.

Programme Code
5 Days
Classroom - Virtual
Programme Overview

Employee costs from payroll and other benefits are among the largest costs in any company other than the Cost of Goods Sold (COGS), rent and depreciation. If you are in a goods producing organization and this cost is part of your COGS and part of your operating costs, it means the effect on you will be doubled. Having these costs processed and reported properly is key for analysis and decision making. This course starts with introductions about the departments of HR and 'accounting and finance' then focuses on the payroll function. The course goes through the process of preparing and calculating payroll and includes the controls needed and the pre-checks necessary to make sure correct data is used. The course enforces the knowledge of controls and proper processes in the workflow to achieve better efficiency in the department. Employee benefits and their effect on the corporation are discussed and we explain how to conduct analysis on payroll and benefits using Excel. In addition, the course includes accounting and EOSI. The course ends with budgeting for the department and payroll of the corporation as a whole.

Programme Objectives

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

  • Explain the functions of HR, accounting and finance
  • Prepare the monthly payroll and review it for accuracy
  • Calculate employee End of Service Benefits (EOSB)
  • Reconcile payroll with accounting and bank accounts
  • Develop monthly and annual payroll budgets
Target Audience

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

Target Competencies
  • Controlling employee costs
  • Preparing and producing payroll
  • Analyzing and reporting payroll
  • Reconciling payroll
  • Budgeting for payroll expenses
  • Budgeting for department expenses and needed assets
Programme Outline

Efficient Payroll Management

  • Introduction to the HR
  • Introduction to accounting
  • Introduction to finance
  • Payroll objectives
  • Efficient payroll management

Preparing and calculating payroll

  • Payroll Controls
  • Payroll Fraud
  • Preparing payroll schedules

Accounting for payroll

  • 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

Payroll budgeting

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