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Payroll Processing Checklist
Pre-Payroll Preparation
Ensure all employee time sheets are submitted and approved by supervisors
Verify that any changes to payroll, such as raises or bonuses, have been updated in the system
Check for any discrepancies in pay rates or hours worked and resolve them prior to processing
Payroll Calculation
Calculate gross pay for each employee based on time worked and pay rate
Deduct all statutory and voluntary withholdings to determine net pay
Review payroll calculations for accuracy before finalizing
Post-Payroll Processing
Ensure that all direct deposit transactions have been successfully submitted to the bank
Prepare and distribute pay stubs to employees
Report and remit payroll taxes to the appropriate government agencies on time
Record Keeping and Compliance
Update payroll records with the current pay period information
Store all relevant payroll documentation in a secure and organized manner
Review and reconcile payroll reports for accounting and compliance purposes
Payroll System Maintenance
Regularly update payroll software to the latest version for security and feature enhancements
Audit user access and permissions to maintain security and confidentiality of payroll data
Schedule and perform regular backups of the payroll system to prevent data loss
