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Sponsored by Lorman Education
Product ID: 407493EAU
 
Credit & Course Provided by:

Payroll Reconciliation and Reporting Guide

OnDemand Webinar (87 minutes)

Learn best practices to create a process and procedure for developing payroll audit and reconciliation tools.Most employers have several different types of earnings, fringe benefits, health insurance deductions, garnishments, etc. Each of these payroll pieces are guided by legislative, regulatory and reporting requirements. Payroll errors can cost an organization thousands of dollars. Payroll professionals are processing a huge amount of numbers and data each payroll cycle. Without a solid segregation of duties, fraud can occur. Even if strong segregation of duties are in place to ensure integrity and prevent fraud, several individuals will be entering and processing the information, leaving room for error. Payroll costs are the largest expense of any organization. Implementing solid audit controls, reconciling your payroll, and discovering the source of errors and correcting them is key to a cost savings and a correct paycheck.

Authors

Tricia Richardson, CPP, SPHR, SHRM-SCP, Purposed Payroll Professional

Agenda

Audit Controls

• Segregation of Duties

• Audit Needs List

• Costs Savings

Reconciliation Tools

• How Often

• Checklists

• Involvement From Other Departments

Errors

• Why Did the Error Happen

• How to Correct the Error

• Best Practices