Depending on the size and complexity of your business, payroll presents a litany of challenges, even before the paychecks are printed. What you do after payroll runs is as important as making payroll run.
Proper reconciliation practices lead to accurate reporting. Coupled with timely depositing, payments and information return processing, the payroll manager becomes an unsung hero to most businesses.
You will learn how to help yourself and the rest of your company sleep better knowing both your workers and the government are happy with payroll.
Learning Objectives:
- Common mistakes made in payroll administration
- Reconciling best practices for small and large businesses
- Hiring and termination of workers
- Confirming net paycheck amounts
- Ensuring voluntary and involuntary deductions are accurate
- Overseeing amounts accrued to accounting records
- Preparing deposits, quarterly and annual payroll tax returns
- Preparing year end reconciliation and information returns
- How to review your internal controls over payroll operations
- How to recognize payroll related fraud
Why Should You Attend:
Do you have an effective and thorough reconciliation process to catch payroll errors? Are you withholding and reporting all non-statutory and statutory deductions correctly?
It's the payroll professional's responsibilities to have effective payroll reconciliation and reporting processes to verify and to ensure employees are paid timely and accurately. If not managed correctly, it can be costly to an employer and in some cases it can lead to internal and external audits.
An effective reconciliation process will allow you to catch and correct errors before the employees are paid. As accounting and payroll professionals we must also withhold, reconcile and report the appropriate payroll taxes to the various tax authorities.
Instructor
Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations.
He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that mean to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.
Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.
Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs, and feels that educating clients toward faster, accurate and more complete payroll processes provides the most value.
Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.