Employee costs from payroll and other benefits are among the largest costs in any company other than the Cost of Goods Sold (COGs), rent and depreciation. Having these costs processed and reported properly is key for analysis and decision making. This course enforced the knowledge of controls and proper processes in the work flow to achieve better efficiency in the department. It also stresses the need for confidentiality in the payroll department and the importance of sharing data with others on a need to know basis or as per corporate policies. Upon completion of this workshop, participants will be able to:
- Explain how the HR and accounting and Finance contribute to their success
- Calculate employee benefits, loans vacations and End of Service Benefits (EOSB)
- Reconcile Payroll with accounting and audit the supporting documents for payments.