A Payroll professional is responsible for processing payroll, remitting payroll taxes and government reporting as well as preparing monthly, quarterly and year-end payroll statements.
A Payroll Supervisor/Manager will ensure compliance with government regulations, establishing and implementing policies on matters such as payroll advancements to employees and the hiring, training and supervision of payroll staff.
- Ensuring all payroll transactions are processed efficiently
- Collecting, calculating, and entering data in order to maintain and update payroll information
- Compiling summaries of earnings, taxes, deductions, leave, disability, and non-taxable wages and reporting on this
- Determines payroll liabilities by calculating employee federal and state income and social security taxes and employer's social security, unemployment, and workers compensation payments
- Resolving payroll discrepancies
- Maintaining payroll operations by following policies and procedures and reporting needed changes
- Developing ad hoc financial and operational reporting as needed
Although no degree is necessary to enter a career in payroll, a degree in finance or economics may be beneficial. Aside from this, it is imperative that a Payroll professional has great attention to detail, a grasp of basic maths and organisational and communication skills.
Please note, this is an average across various industries. To compare your salary, and receive data on salaries for your sector, visit our salary calculator.