PPT-Quarterly and Year End Payroll Procedures

Presented By Genevieve Schulte amp Kristal Hamm Donna Denker amp Associates What is an accrued liability An obligation that comes into existence as a result of past contractual commitments or tax legislation . Payroll Interface is an internet application that gives you ac cess to PeopleSoft online page so you can easily transfer HPSORHH57347GDWD57347DQG57347XSGDWHV57347IURP573472UDFOH57526V PeopleSoft Human Resources Manage ment to your payroll system A Leah Churchard, Senior Support Analyst. Checklist at a glance. Accruals. Salary Changes. Insurance Deductions. Tax tables. Deduction Limits. Payroll Fiscal Year. Calendars. Encumbering . Posting to the General Ledger. Objectives. Calculate gross payroll using multiple methods. List and compute withholdings. Compute net pay. Prepare payroll register. Explain distribution methods. Record payroll transactions in the general journal. What is Web Time entry?. . This is a Datatel process for submitting payroll and leave hours. This method will replace Lotus Notes and allow departmental payroll coordinators to submit hours worked and hours absent (vacation, sick, etc.) via a web screen accessed through WebAdvisor.. Employees who arrive late, take longer than permitted for their lunch breaks or slip out of work early, can cost your business dearly, with up to 20 hours of productivity being lost in some cases. So, what can you and your business do to help prevent this and get back all those lost hours? The solution is to make your employees more accountable by implementing an effective time and attendance management system. Human resources departments within most companies are responsible for much more than simply processing payroll or handling the open enrolment season every year. Whether a business is large or small, human resources can play a large and often essential role in developing company strategy and handling all aspects of the employee-centred activities of an organisation. While the process itself may seem easy – you’ve just hired your first employee and you need to pay them – if you’re new to business and payroll, you may find that it’s not clear exactly what you should be doing and how to go about it. There may be many words and phrases that you’re not familiar with, such as ‘pay periods’, ‘unemployment tax’ and ‘Form 941’ to name but a few. Sr. Business Analyst/Quality Assurance. Riding. the Wave of Innovation. What is Payroll Encumbrance. 2. Payroll encumbrance process is a method to identify all committed funds for salary and benefits.  Encumbering the funds needed for future payments to current employees provides a true picture of the funding still available in an account.. Contrary to what some non-business minds may tell you, when put in place effectively, outsourcing payroll can be a fantastic way of cutting costs and giving a business an even better return on their investment. Read on to know more: General Accounting. To record transactions. Prepare financial statements. Cost Accounting. Determine the cost of producing a product or providing a service. Identify areas to control costs. Budget. Project costs and revenues associated with business activities. Naturally, as an employer it’s your responsibility to ensure that your employees are paid accurately and in a timely manner, irrespective of how many workers you have. You must be aware of all laws pertaining to payroll and stay up to date with the myriad changes to these laws that can occur throughout the year. You also need to understand payroll taxes and be sure to file accurately and on time to avoid costly penalties. For most employers, payroll can be a minefield and the sensible solution would seem to be that of hiring a payroll professional to help you get it right. Scott E. Townsend, President. Scott E. Townsend’s Payroll Journey. 1988 – 1994 Reported to . Najeeb. Khan, CEO and founder of . Interlogic. Systems, Inc.. 1997 – 2003 . Director of Systems Development at ISI/CNA . Retirement Benefits Training. Fiscal year 2022. Employer reporting representatives. PEBA’s Member Account Services has staff assigned to each employer to help with:. Monthly deposits;. Quarterly payroll reports;. The Benefits of Reading Books