Question

How can an organisation make sure payroll preparation allows sufficient time for employees to be paid within designated timelines? 80–100 words

(Please note: Australian)

Answer 1

A payroll calender needs to be developed. Biometric solutions to capture the attendance of employees should be used. The date by which the employees should record their leaves and get the same approved by bosses should be fixed. Leaves not recorded within the date should be treated as absent without pay. Leaves inadvertently not recorded should be taken in next payroll cycle only after proper approvals. A date should be fixed by which date any inputs from the employees required for payroll processing should reach payroll department like insurance premium to be borne by employee, etc.

Accounts should ensure that the funds required for payroll processing are set aside before the payment date. Forms for employee reimbursements, Forms for other additions to salary that qualify for tax deductions should reach the payroll department before designated dates so that the same may be considered in the current payroll cycle. The annual investment declaration proofs should reach the payroll department before the specified dates to be considered for payroll.