Accounting payroll specialists are accounting professionals who basically make sure that employees receive the correct compensation in a timely manner. They are hired in all industries and are required to process and manage the company’s payroll according to both company standards and principles of accounting.
Eligibility criteria to work as an accounting payroll specialist includes a bachelor’s degree in accounting, a good head for numbers and calculations, ability to analyze accounting information, and the capability to deal with difficult and sensitive information. Additionally, one has to possess good comprehension of accounting systems and exposure to management reporting systems. If you are an exceptional accounting professional and are able to produce accurate results while meeting established deadlines, you may be considered a good contender for the job. Extensive data entry skills, ability to work with spreadsheets and word processing proficiency, are all required prerequisites of the job pf an accounting payroll specialist.
Typically, accounting payroll specialists perform daily payroll work and manage workflow to ensure that all payroll transactions are processed accurately and timely. Reconciliation and discrepancy management is a major part of the work of an accounting payroll specialist as well. Some other duties that a person working at this position performs on a regular basis include:
• Prepare monthly journal entries and back reconciliations and maintain records and files concerning company payroll
• Complete accurate and timely processing of employee payroll and billing and review invoices for accuracy
• Keep up with payroll and tax laws and ensure that top managements is kept abreast of any changes or updates
• Review invoices and ensure that they sync with payable accounts information
• Audit and reconcile a wide range of personnel actions and payroll documents
• Process employee data including new hires and additional earnings and bonuses and process employee time and attendance data
• Process accurate employee pay and ensure that any additional payments or deductions are calculated and posted in time
• Research and resolve payroll-related issues and discrepancies so that they do not have a negative effect on calculations
• Process garnishments including child supports, tax levies and loans and complete forms for special wage or salary payouts
• Manage payroll distribution, direct deposit and retro-expenditure transfers and set up and reconcile voluntary payroll deductions
• Process taxes and payment of employee benefits and ensure that they are properly posted to separate accounts
• Prepare pay orders and checks through designated electronic systems and distribute checks to new employees
• Identify and highlight payroll or accounting discrepancies and ensure that they are resolved in a prompt manner