Payroll Management ON DEMAND

Overview

Payroll management in accounting is fraught with challenges, ranging from maintaining accuracy in payroll processing to adhering to complex and ever-changing payroll regulations in the United States. For many accountants and payroll specialists, these tasks can be overwhelming, often leading to inefficiencies and error rates that can have significant financial implications. Keeping up with the latest regulations, managing payroll taxes, and ensuring confidentiality in payroll systems add layers of complexity to the payroll process. Without a robust understanding and an efficient system in place, managing payroll can become a daunting and error-prone task. This self-study CPE course is designed as a comprehensive guide to revolutionize the payroll function within an organization. It covers everything from time tracking and payroll processing to in-depth insights into payroll regulations and reporting requirements. Participants will learn about various payroll systems and how to ensure payroll confidentiality, the criteria for employee designation and its impact on payroll taxes, and effective time tracking methodologies. Additionally, the course delves into the intricacies of calculating compensation and the tax treatment of different types of benefits. With annual updates reflecting the latest payroll regulations, this course is an invaluable asset for anyone new to payroll management or looking to enhance their current payroll systems. By the end of this course, participants will be equipped with the knowledge and tools to streamline payroll processes, reduce error rates, and ensure compliance with payroll regulations, ultimately enhancing the efficiency and accuracy of their payroll department.

Highlights

Payroll management. Definition of an employee. Employee time tracking. Employee compensation. Employee benefits. Payroll deductions. Payroll taxes. Tax remittances. Unemployment taxes. Payments to employees. Accounting for payroll. Payroll reports. Payroll recordkeeping. Payroll procedures. Payroll controls. Payroll measurements. Outsourcing option.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

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.

Preparation

None.

Notice

None.