ayroll: Preparation, Analysis and Management

Employee-related costs, including payroll and benefits, represent one of the largest expenditures for any organization—second only to major items such as Cost of Goods Sold (COGS), rent, and depreciation. In manufacturing or goods-producing companies, these expenses may be embedded within COGS or operating costs, effectively doubling their financial impact. Accurate processing and reporting of payroll and employee benefits are therefore critical for sound analysis and informed decision-making. This course begins by introducing the roles of both Human Resources and Finance & Accounting departments, with a particular emphasis on the payroll function. Participants will learn the end-to-end process of payroll preparation and calculation, supported by essential internal controls and pre-validation checks to ensure data accuracy. The program highlights the importance of well-structured workflows, control mechanisms, and efficiency in payroll operations. It also examines the impact of employee benefits on corporate performance and provides practical tools to analyze payroll and benefits using Excel. Additionally, the course addresses the integration of payroll with accounting, internal audit, and external audit requirements, emphasizing the type of data these functions may request. Confidentiality is underscored as a vital element within payroll management, with guidance on sharing sensitive information only on a need-to-know basis in accordance with corporate policies. Finally, the course explores effective methods for preparing departmental budgets and forecasting payroll and benefit costs at the corporate level.

Controling employee costs Preparing and producing payroll Analyzing and reporting payroll Reconciling payroll Budgeting for payroll expenses Budgeting for department expenses and needed assets

undations of Payroll and Its Strategic Role Payroll as the essential bridge between HR, Accounting, and Finance Introduction to the HR function and its role in payroll Introduction to Accounting and Finance functions in relation to payroll Understanding hiring process documentation and its impact on payroll 2. Managing Payroll Processes Payroll management for: Contract professionals Full-time employees Temporary staff Outsourced services Preparing and calculating payroll accurately Establishing the right internal controls before payroll processing Defining appropriate calculation bases for payroll Identifying risks and common errors in payroll management Managing increments, deductions, and approvals Preparing payroll schedules and timelines 3. Employee Loans and Benefits Managing employee loans and access to benefits Establishing controls over loan approvals and repayments Reporting and monitoring loan balances and benefit utilization Calculating End of Service Benefits (EOSB) for employees and company Designing reports on employee benefit plans 4. Payroll Accounting and Audit Considerations Recording payroll expenses, liabilities, and allocations to assets or inventory Accounting for payroll-related contributions and liabilities Reconciling employee-related receivables and payables with payroll records Reconciling payroll liabilities with social security and other government agencies Matching payroll payments with bank transactions Introduction to internal and external audit requirements Best practices in auditing the payroll cycle 5. Payroll Budgeting and Financial Planning Budgeting for payroll department operations and expenses Preparing annual payroll and contribution budgets for the organization Budgeting for employee loans and benefit schemes Reporting payroll and contribution expenses Determining individual contribution expenses and corporate obligations 6. Payroll Reporting and Compliance Preparing and submitting reports for accounting departments Coordinating with accounting on payment processes and controls Reporting obligations to: Ministry of Labor Social Security authorities Other regulatory agencies Ensuring compliance and accuracy in statutory payroll reporting