IPayroll: The Important Link between Human Resources and Accounting

• Introduction to the HR Function
• Introduction to Accounting Function
• Importance of Payroll Function as a Link between HR and Accounting
• Understanding the Hiring Process Documentation
• Managing Payroll Process for: 
• Contract Professionals
• Full Time Employees
• Temporary Help
• Outsourcing

Preparing and Calculating Payroll 

• Looking for the Right Controls before Starting
• Determining the Right Calculation Basis for Payroll
• Elements of Risk Leading to Payroll Mistakes
• Managing Increments, Deductions and Payroll Approvals
• Preparing Payroll Schedules

Employee Loans and Benefits

• Controlling Access to Loans
• Reporting on Loans Status
• Calculating End of Service Benefits for Company and Employees
• Reporting on Benefit Plans

Accounting Department Role in Payroll Process

• Recording Payroll Expense and Liabilities
• 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

Payroll Budgeting

• Budget for Payroll Department Expenses
• Prepare 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
• Determining Corporate Contributions
• Reporting Results to the Accounting Department
• Coordinating with Accounting Department Regarding Payment Process and Control
• Reporting to Ministry of Labor
• Reporting to Social Security Authorities
• Reporting to Other Regulatory Agencies