Payroll Management

Upon successful completion of this course, participants will be able to:

• Cite the types of payroll systems, and note how payroll confidentiality is maintained.
• Specify the circumstances under which someone is defined as an employee, and how an employee designation impacts the applicability of payroll taxes.
• Identify the circumstances under which different time tracking methodologies are most useful.
• Specify the methods under which compensation is calculated for employees.
• Cite the tax treatment of various types of benefits.
• State the types of deductions from pay, and why they are used.
• Recognize the methods for paying payroll taxes.
• State the methods and related rules under which a business remits payroll taxes to the government.
• Specify how unemployment taxes are calculated.
• Identify how payments to employees are made, and the forms used to do so.
• Specify where payroll transactions are recorded in the accounting records, and how payroll accruals are used.
• Define the contents of the various payroll reports, and the circumstances under which these reports are issued.
• State the forms used to update payroll events, when these forms should be used, and where they are stored.
• Itemize the key steps involved in payroll activities.
• Specify the types of reports run as part of payroll processing.
• Cite the actions taken to maintain control over the payroll function, and note the types of controls that can be used.
• Identify the more common payroll measurements, and note how they can be calculated and why they are used.
• Specify the responsibilities of the parties to an outsourcing arrangement, and the negotiation points for this arrangement.