Payroll Process Streamlining for HR & Accounting / Payroll Practitioner

Streamlining Payroll Processes: Accuracy & Efficiency
Payroll management covers employee wage calculation, payments, and legal compliance.

Accounting and HR must work together for smooth payroll operations.

Benefits of accurate payroll:

Avoid legal penalties by following labor laws.

Save time and reduce errors with automation.

Protect employee data privacy.

Boost employee satisfaction with timely, transparent pay.

Improve operational efficiency and adaptability.

Common payroll problems include errors in pay, compliance, and documentation.

To streamline payroll:

Use cloud-based payroll and integrated HR systems.

Automate compliance and direct deposits.

Secure employee data.

Regularly audit and train teams.

1. Streamlining Payroll Processes: Ensuring Accuracy and Efficiency in 2024 Joseline M. Alosbaños, CHRP 09 November 2024

2. Agenda Introduction to Payroll Management Roles of Accounting & HR in the Payroll Process Benefits of Payroll Accuracy and Efficiency Common Payroll Issues Streamlining Payroll Process Summary

3. Payroll Basics

4. Payroll Management Payroll Management is the process of administering and overseeing the complete cycle of compensating employees for their work, which covers everything from wage calculations, disbursing payments and ensuring compliance with relevant law.

5. HR & Accounting’s Role in the Payroll Process

6. Key Benefits of an Accurate & Streamlined Payroll Process

7. Common Payroll Errors

8. Common Payroll Errors Failure to comply with Government Regulations: Regulations covering Payroll is strict; failure to comply can lead to fines and interests. Miscalculations / Payroll Errors Miscalculating payroll can lead to underpayment or overpayment of employee wages. Documentations: Wrong numbers (i.e. SSS numbers) and other factors can influence payroll outcomes, submission of leaves or overtime requests can affect payroll computations.

9. Common Payroll Errors Failure to establish Systems and Procedures in place. No standard procedures regarding how to handle payroll in general covering cut off periods, how to handle requests and how to adjust payroll.

10. Streamline Payroll Process

11. How to Streamline Payroll Processes

12. Adopt Digital Payroll Systems Cloud Based Payroll/Timekeeping Software – Using Jeonsoft , Sprout and other cloud-based payroll providers can centralize payroll data , ensuring real time access thereby reducing manual errors. These software are considered compliant thereby making them easy to adopt. Integration with other HR System – integrate your payroll system with other HR Modules – time and attendance, leave management, employee records and employee performance to avoid redundant data entry and ensure consistency .

13. Automate Compliance with Labor Laws

14. Implement Direct Deposit and Digital Payslips

15. Enhance Time & Attendance Management

16. Data Security & Employee Privacy

17. Regular Audits & Quality Assurance

18. Optimize Tax Filing & Reporting

19. Provide Payroll Training for HR/Payroll Teams

20. Summary

21. Thank you! Email: [email protected]