A Payroll Specialist is responsible for managing and processing an organization’s payroll, ensuring accurate and timely payment to employees. They handle payroll calculations, deductions, and tax withholdings, while also maintaining payroll records and compliance with federal and state regulations.
The Payroll Specialist plays a crucial role in resolving payroll discrepancies and providing exceptional support to employees regarding payroll inquiries.
What does a Payroll Specialist do, typically?
- Compile and submit payroll deductions related to check requests and payments, ensuring all deductions are accurately processed.
- Maintain current knowledge of IRS regulations and ensure compliance with federal, state, and local payroll laws.
- Maintain, prepare, and process payroll for all organization personnel, ensuring timely and accurate payroll cycles.
- Prepare payroll-related journal entries for period-end and assist with financial reporting requirements.
- Audit employee timesheets for hours worked and accuracy, addressing any discrepancies promptly.
- Handle payroll tax reporting and compliance, including quarterly and annual filings.
- Manage direct deposit setups and changes, ensuring secure and efficient payment methods.
- Assist with the administration of employee benefits and deductions, coordinating with HR and benefits providers.
- Provide support to employees regarding payroll inquiries, offering clear explanations and solutions.
- Collaborate with the HR department to ensure accurate employee data and records are maintained.
- Generate and distribute payroll reports to management, providing insights into payroll expenses and trends.
- Participate in payroll system updates and improvements, ensuring efficient payroll processing and reporting.
