INTRODUCTION

The majority of businesses commonly refer to the funds provided to employees or the documents that show how much each employee has earned as payroll. An understanding of current regulations, in-depth tax knowledge to ensure proper withholding and filing, and a highly organized system that can be relied upon to pay each employee the appropriate amount of money are all requirements for processing payroll, which is a crucial function of any business. Analysis and management of the payroll preparation process are essential because salaries typically make up the majority of a company's expenses..

COURSE OBJECTIVES

By the end of the course the participant should be able to:

• Explain how the HR and accounting and finance functions contribute to their success
• Prepare the monthly payroll and review it for accuracy
• Calculate employee benefits, loans vacations and End of Service Benefits (EOSB)
• Reconcile payroll with accounting and audit the supporting documents for payments
• Develop monthly and annual payroll budgets
• Design periodic payroll management reports and analysis

DURATION

5 Days

WHO SHOULD ATTEND

Employees who are interested in learning and implementing payroll best practices include payroll workers, payroll accountants, account assistants, payroll supervisors and managers, HR specialists, and payroll team members.

COURSE OUTLINE

Payroll: the important link between human resources and accounting

• Introduction to the HR function
• Introduction to accounting function
• Introduction to finance function
• Payroll as a link between HR and accounting and finance
• Understanding the hiring process documentation
• Managing the payroll process for:
• Contract professionals
• Full-time employees
• Temporary help
• Outsourcing

Preparing and calculating payroll

• Determining the right calculation basis for payroll
• Elements of risk leading to payroll mistakes
• Managing increments and deductions
• Payroll approvals & schedules

Employee loans and benefits

• Access to employee benefits
• Controlling access to loans
• Reporting on loan status
• Calculating end of service benefits for the company and employees
• Reporting on benefit plans

Accounting and auditors roles in the payroll process

• Recording payroll expense and liabilities
• Recording payroll and benefits costs to assets or inventory
• Recording payroll related contributions and liabilities
• Reconciling receivables from and payables to employees with payroll department
• Reconciling liabilities with social security and other governmental agencies
• Reconciling payments with bank accounts transactions
• Introduction to internal audit and external audit
• Auditing the payroll

Payroll budgeting

• Budgeting for payroll department expenses
• Preparing the yearly budget for payroll and contributions for the company
• Budgeting for employee loans and other benefits

Reporting payroll and contributions

• Determining contribution expense for individuals & corporate contributions
• Reporting results to the accounting department & Coordinating regarding payment process and control
• Reporting to ministry of labor, social security authorities & other regulatory agencies

GENERAL NOTES

• Our seasoned instructors, who have years of experience as seasoned professionals in their respective fields of work, will be teaching this course. A combination of practical exercises, theory, group projects, and case studies are used to teach the course.
• The participants receive training manuals and supplementary reading materials.
• Participants who complete this course successfully will receive a certificate.
• We can also create a course specifically for your organization to match your needs. To learn more, get in touch with us at training@dealsontrainers.org.
• The training will take place at DEALSON TRAINERS IN NAIROBI, KENYA in Nairobi, Kenya.
• The training fee includes lunch, course materials, and lodging for the training session. Upon request, we may arrange for our participants' lodging and transportation to the airport.
• Payment must be made to our bank account before the training begins, and documentation of payment should be emailed to training@dealsontrainers.org