We all strive for
a position that provides future security, & it seems that getting certified
in payroll is all that you need. But how to become a payroll professional &
what are the various job roles you can excel are the ruling questions here.
Well, the iLead-Fundamental Payroll Certification training institute in
Hyderabad has provided you with the answers to these questions in this article.
Keep reading to
know the scope of payroll and various job roles in the payroll profession. Here
is an introductory guide to a great payroll career path.
Payroll Professionals
Payroll personnel
are an important part of any business. This team ensures that employees are
compensated in the correct amount and on the due date. Payroll team should also
have some understanding of general accounting practices. Read on to learn about
some of the common responsibilities of payroll professionals.
Payroll is a
quintessential aspect of any business and getting it done right for both
employees and the company is crucial. That is where the payroll staff comes in.
A payroll
professional typically manages as well as oversees all payroll aspects of a
company. Payroll professionals handle discrete tasks right from collecting bank
& direct deposit information to handling employee paper checks, from
keeping up on taxation to maintaining accurate reports and much more. Payroll
professionals are often referred to do it all, making this role a crucial part
of all departments for all businesses.
Are you
interested in any position in payroll? Payroll staff assistant to manager,
auditing payroll reports, and payroll specialists to lead payroll
administrators. There are multiple positions within the payroll profession, and
these positions provide the payroll accounting & administrative duties to
support the payroll department. You can consider the following payroll
positions.
Payroll personnel
report to the payroll manager or supervisor and assist in coding, publishing
and reviewing payroll reports. There are various positions among the employees
in the payroll department such as Payroll Technician/Assistant, Payroll
Specialist, Payroll Administrator and Payroll Lead Administrator. These
positions provide all accounting and payroll functions to support the payroll
department. Here are some salary positions you might want to consider.
Payroll Technician or Assistant
Payroll
Technician/Assistant is an entry-level position that is responsible for office
duties such as typing and filing. For example, a college payroll assistant
position will be responsible for maintaining the confidentiality of human resources,
records, and payroll information. This person will assist the Student
Employment Coordinator with federal on-the-job training and apprenticeship
programs.
For this
particular college position, an HR degree with at least one year of experience
in HR or payroll is preferred. Basic knowledge of Excel, Word and Access is
required. iLead offers placement assured FPC, quick books, and US
taxation courses in Hyderabad which are led by industry tax experts
You can raise
your career graph with the best FPC and enrolled agent certification
training programs where we offer very affordable packages.
Payroll Specialists
Payroll
professionals range from entry level to management positions. They are a very
important part of the payroll staff and report to the supervisor or payroll
manager. In the daily work of a payroll specialist, you must review and analyze
payroll forms and reports to check their accuracy and make any necessary
corrections. Let’s say you work as a payroll specialist for a large payroll company
that other companies use to outsource payroll.
You will be the
main contact person for the client. You must research and offer solutions to
clients, build relationships to establish trust and increase awareness of the
company’s services. Companies prefer that you have strong math and
problem-solving skills, and some prefer an accounting or HR degree.
The American
Payroll Association Basic Pay Certification Exam is for those who wish to
demonstrate a certain level of knowledge in payroll matters. Payroll experience
is not required to take the exam. However, some employers require the
appointment of an FPC for certain payroll positions.
Payroll Practitioner
An entry-level
payroll specialist develops and maintains employee payroll records. Check your
time records, post new employees and tax changes to the system, and make
various changes. His duties are generally consistent with minor deviations from
normal protocol. The mid-level payroll specialist handles both record keeping
and payroll processing functions.
iLead is the most sought after edutech
platform where you can get comprehensive FPC and other tax courses like enrolled agent training
courses in Hyderabad with which accounting aspirants can unleash the
best U.S tax representative opportunities.
Calculation of
payroll and deductions, as well as processing advances and layoffs on wages.
The Senior Payroll Specialist performs basic and mid-level duties in addition
to other duties. Calculate and create general ledger entries, reconcile payroll
and deduction amounts, calculate and resolve imbalanced accounts, and complete
and archive payroll tax returns. It also prepares management reports and
performs complex calculations such as payroll collections and withdrawals.
The FPC
designation is suitable for beginner and intermediate levels; however, for the
senior level, the designation FPC or Certified Payroll Specialist may be
preferred.
Payroll
Accounting
A payroll
accountant/analyst documents and manages a company’s payroll accounts. He
ensures that these accounts are reconciled with the company’s financial
statements. Assists with internal and external audits and assists the payroll
department with complex payroll issues.
Preparation of
accounting reports, exhibitions and summaries. Decides whether the accounting
system needs new accounts and changes. The designation FPC or CPP is generally
preferred.
Payroll Administrator
The
Records/Benefits Administrator maintains payroll records and manages employee
benefits. This includes vacation, sick leave, personal and bereavement
policies, and leave and vacation policies.
Calculate payroll
deductions for voluntary benefits such as health and accident insurance,
flexible spending accounts, retirement plans, and employee stock purchase
plans. Work with third-party insurers and benefit administrators to help
implement programs. Typically, FPC or CPPs are preferred.
Payroll Data Analyst
Systems analysts
prepare program specifications for computerized payroll systems. Evaluates and
validates specifications developed by programmers, and installs and implements
internal company systems or systems purchased from external vendors.
The key to this
role is remuneration experience as well as a deep understanding of industry
regulatory issues. You will also need to demonstrate strong math and problem
solving skills, as well as the ability to model data using more advanced
Microsoft Excel features. Experience with cloud-based payroll technology may be
an advantage and familiarity with enterprise resource planning (ERP) systems
may also be beneficial for this position.
Payroll system or
data analysts review potential systems and prepare relevant reports for
recommendations and changes. Assists in documenting system operations and
providing appropriate training to payroll personnel. The designation FPC or CPP
is generally preferred.
Payroll Clerk
Managed by an
elderly professional, the payroll clerk handles day-to-day duties such as
issuing payrolls and answering questions from employees. In smaller
organizations, this role may overlap with basic accounting and/or human
resources (HR) tasks.
Starting salaries
for new hires with little or no payroll experience can be expected to be around
$33,500, according to the latest salary guide. Professionals with strong skills
and a few years of relevant experience start at around $62,250. And of course,
salaries may vary by location.
Payroll
certifications, such as the American Payroll Association’s (APA) Basic Fundamental
Payroll Certification (FPC), can help your application stand out.
Payroll Manager or Supervisor
After about 5
years down the payroll career path in accounting, an individual would be ready
to take the lead. Responsibilities at the payroll manager level involve
maintaining, budgeting, compliance, partnering with other divisions, and
guiding departmental policy, and advising senior executives.
The next step in
a payroll career is the role of coordinator or administrator who is responsible
for more complex payroll tasks. A typical day for this professional may include
compiling payroll reports, preparing returns, reconciling ledgers, checking
compliance, and making sure taxes are paid properly. There may also be
responsibilities related to onboarding and employee rewards.
Related Jobs
You may be working
for a fee. For example, payroll consultants make appointments with potential
and existing clients and introduce them to payroll products and services.
Account representatives provide technical and non-technical payroll support to
payroll office clients.
The FPC
designation can help strengthen your application, but it does not automatically
entitle you to work. In addition to the FPC designation, the employer may
require several years of work experience and a degree in a related field.
To conclude,
becoming a certified payroll specialist gives you knowledge, expertise and
confidence to move up in your career ladder. Moreover, the FPC certification
helps you command a higher salary package as per the national payroll
recruiting firms.
Wishing you all
the best for your certification!
Learn &
improve your skills with our online FPC training courses now!
