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.
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.
By the end of the course, participants will be able to:
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.
Efficient Payroll Management
Preparing and calculating payroll
Accounting for payroll