The human resources department handles many duties; one of them is the maintenance of payroll. The payroll is the accounts of the salary that each employee is entitled to receive. The payroll account is handled by the payroll accountant. To know the duties and responsibilities of a payroll accountant, go through the payroll accountant job description we have provided for you.
Salary payment is the most important duty for any organization to run smoothly, and more importantly employees should be paid the correct amount. Salary of each employee has to be calculated separately as there could be additions and deductions to the salary.
The accountant issues the salary checks to the employees on the said date, or makes a wire transfer through the company's corporate account with the bank. The accountant then has to issue each employee a salary slip giving details of the salary. It is probably one of the most important parts of the payroll accountant job description.
The accountants have to generate the payroll on a weekly, fortnightly, or monthly basis, whichever is the company's policy for payment. They have to make all the entries and maintain all the records required. They also have to close all the accounts at the end of the month and the year, and forward this data to the accounting department for the final accounts.
Payroll accountant make a good living as he carries a lot of responsibilities. The job security for this profession is also good as during times of downturn, accounting jobs are least likely to be cut as they can help any company reduce their costs. The education required for this position is that of any accountant.
Nowadays, many accountants are also hired on a part-time basis if the company is small in size. Therefore, payroll accountants have the choice of working part-time, or they can work in two or more places. Many take this option and use the spare time to study further to improve their prospects. Still not fully knowledgeable about payroll accountants, check out the bulleted point that are given below.
Payroll accountant can move up in the management of the company they work in. With additional education, they can earn good coveted posts.
The payroll accountant job description though, may be only about salaries, but the scope offered for advancement is present, if one is willing to work hard.