Payroll Training

A company’s payroll is a list of company employees who are entitled to a salary and the amount each receives. Payroll can also refer to the company’s record of payments that the company previously paid to employees, including wages and salaries, bonuses, along with the amount of time each employee worked or received for the work received. And the taxes owed, or the department of the company that calculates and pays these amounts.

There is a way to handle payroll. It means that a company handles all aspects of the payroll process on its own, including timesheets, salary calculation, production of paychecks, sending ACH for any direct deposit or shipping of automated clearinghouses and any taxes. Meeting the payment requirement is included. Payroll can also be outsourced to a full-service payroll processing company. When a company chooses to outsource its payroll, timesheet, wedge calculation, payment, direct deposit, and tax payments, they can all be controlled by the payroll company, in part.

Payroll plays an important role in the internal operations of a business for several reasons. From an accounting point of view, payroll and payroll taxes are subject to laws and regulations. The payroll system in the United Kingdom requires real-time information (RTI), from payment and income tax to social contributions, to real-time payment when an employee receives compensation on the contrary. -HMRC is informed on a (PAYE) basis. The United States, where its federal and state employees are subject to local regulations, including exemptions, record keeping, and tax requirements.

Payroll also plays a vital role in human resources. Payroll errors, such as late or inaccurate paychecks, are a touchy subject that can cause tension between employees and their employers. A requirement to maintain high employee morale is that payroll be paid accurately and on time as employees are very sensitive to payroll errors.

Graduate/Entry Level

Introduction to Payroll

  • Objectives of a payroll department in any company
  • Types of payroll, payment frequencies and payment methods
  • Determination of workers
  • Employment status of workers

Pay and Benefits

  • Processing of different categories of gross pay and entitlements
  • Processing payroll changes
  • Understanding and processing of tax codes/changes, PAYE Income tax and tax allowance
  • Interpretation of taxable pay and non-taxable pay
  • Processing and calculating a starter and leaver in payroll
  • Processing overpayments and recovery

Senior Level

Pay and Benefits

  • Different Pension schemes
    • Defined Benefits (DB)
    • Defined Contributions or Auto Enrolment (DC or AE)
    • Money Purchase or Group Pension
  • Other flexible benefit schemes such as:
    • Company car
    • Private health insurance scheme
    • Cycle to work scheme
    • Season ticket loan
    • Discount vouchers
    • Gym membership
    • Travel insurance
    • Paid holidays
    • Bereavement/Funeral leave/pay
    • Sabbatical leave
    • Tuition assistance or student loan assistance
    • Child care or Tax-free childcare

Deductions from Pay

  • How to calculate and deduct employee and employer National Insurance contributions (NICs)
  • Calculate and deduct PAYE income tax
  • Calculate and deduct student loans, postgraduate loans
  • Calculate, deduct and remit Court orders, Attachment of Earning orders
  • Calculate, deduct and remit voluntary deductions such as union dues, gym etc.
  • Calculate, deduct and remit pensions to Pension Administrators

Processing absence

  • Calculate SSP, SMP, SAP, SPP/ShPP payments
  • Calculate unpaid leave and deduction
  • Calculate leave entitlements

Payroll Reporting

  • Preparation of BACS summary and report
  • Preparation of gross to net pay
  • Preparation of salary adjustments
  • Preparation of periodic summary report (monthly, quarterly and annual)
  • Preparation of pension report (summary and detail)
  • Preparation of starter and leavers report
  • Preparation of departmental and nominal reports
  • Attending to payroll queries, resolve payroll discrepancies and develop best practise

Professional Level

Deductions from Pay

  • How to calculate and deduct employee and employer National Insurance contributions (NICs)
  • Calculate and deduct PAYE income tax
  • Calculate and deduct student loans, postgraduate loans
  • Calculate, deduct and remit Court orders, Attachment of Earning orders
  • Calculate, deduct and remit voluntary deductions such as union dues, gym etc.
  • Calculate, deduct and remit pensions to Pension Administrators

Processing absence

  • Calculate SSP, SMP, SAP, SPP/ShPP payments
  • Calculate unpaid leave and deduction
  • Calculate leave entitlements

Payroll KPI Reports

  • High turnover rate especially leavers or percentage of staff retention
  • Percentage of new employees (starters)
  • Total payroll compared to last period
  • Total payroll to gross revenue
  • Percentage of master data accuracy (employees’ data)
  • Annual salary increase
  • Payroll headcounts – no on FTE, PT

Hawkish Institute, which is part of the Hawkish group, we are here to provide a solution to a problem and influence knowledge and experience.

We will tell you about all the practical aspects of financial and management training. Functional training is your passport to your employment.

Contact us today to get trained on your dream job.

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