Question

In: Accounting

1. What does a payroll accountant do? 2. How much does a payroll accountant make? 3....

1. What does a payroll accountant do?
2. How much does a payroll accountant make?
3. How to earn certifications?

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Question

What does a payroll accountant do?

  • Payroll accountants play a vital role in all companies with a staff of employees. Both small and large businesses alike must comply with local, state and federal laws specific to payroll reporting and compliance regulations.
  • In essence, payroll accountants act as liaisons that perform financial and reporting activities between a business organization, their employees and the government.
  • The most common task that is performed by payroll accountants is the calculation of employee pay checks.
  • Payroll accountants must keep track of employee time cards, requests for paid and unpaid leaves of absence, as well as other factors that are essential to accurate payroll calculation.
  • Aside from participating in the daily operations of a business’s payroll department, payroll accountants often act as internal payroll auditors.
  • During an internal audit, the payroll accountant will review, evaluate and assess the accuracy of payroll and tax documents.
  • They also work to ensure that the company is compliant with federal, state and local regulations that are relevant to the payroll reporting process.

Question

How much does a payroll accountant make?

  • Based on U.S. Bureau Labour Statistics (BLS) on an average the payroll accountant per annum salary would be in the range of $45,000-$60,000.
  • However, above figures are decided based on the skill set and certification and technical knowledge about the work. Also where the person join as a trainee the payment would be different.

Question

How to earn certifications?

  • This position typically requires a bachelor's degree in accounting. Most major universities offer such a degree program. Additionally, a Fundamental Payroll Certification (FPC) or Certified Payroll Professional (CPP) may be desired by an employer. At entry-level positions, such as a payroll assistant or payroll practitioner, experience within the field can suffice in place of a degree. In these positions, an associate's degree may also be adequate for employment.
  • Many professional college offered such degree courses as well.
  • The Certified Payroll Specialist (CPS) license is accredited by the National Association of Certified Payroll Specialists (NACPS). The license is recognized throughout the United States and its properties.

You obtain and maintain your license by:

  • Passing a three part exam,
  • Verifying payroll education or experience,
  • Agreeing to abide by a professional code of conduct, and
  • Maintaining 16 hours of continuing professional education (CPE) each year.
  • If you like the answer please do the positive rating.

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