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The payroll function in any large or small company or organisation must operate efficiently and accurately to ensure that salaries are paid correctly and on time.
Payroll specialists work within finance departments, although this function may be outsourced to a company providing dedicated payroll services.
Typical duties include:
Calculating weekly or monthly gross pay.
Calculating deductions such as PAYE, pension, National Insurance contributions, (statutory) sick pay, maternity pay and holiday pay.
Calculating bonus and benefits payments.
Calculating overtime.
Calculating pay increases.
Calculating net pay.
Recording all relevant data on in house or specialist software packages used to calculate pay.
Creating and maintaining records for all staff.
Issuing end of year tax forms and P45s.
Liaising with HR departments on personnel matters.
Managing teams of payroll specialists (in the case of Payroll Managers).
Payroll specialists often need to be familiar with a number of payroll software programmes.
Qualifications
Senior payroll staff may be part of fully qualified accountants or experienced bookkeepers. A number of financial institutions offer payroll training and qualifications. The Institute of Payroll Professionals offers a wide range of relevant courses.
