Best Practice in Payroll Accounting and Reconciliation

The programme

Programme overview

Welcome to the “Best Practice in Payroll Accounting & Reconciliation” workshop, a comprehensive course designed for professionals who seek to enhance their expertise in managing payroll functions with accuracy and efficiency. This hands-on course offers participants an in-depth insight into the complexities of payroll reconciliation, covering all aspects from processing fixed and variable inputs to detecting and preventing fraud.

Who should attend

Who is this programme for?

• HR Executives, Administrators, and Directors
• Accountants and Auditors
• Reconciliation Officers
• Other Management Staff Involved in Payroll and Related Functions

Learning outcomes

What you will learn

• Grasp the full scope of reconciliation within payroll functions
• Identify the purposes and benefits of regular reconciliation practices
• Execute detailed checks for all payroll inputs, including weekly and monthly data
• Process payments accurately, including salaries, allowances, overtime, and bonuses
• Accurately reconcile monthly pension fund contributions, including current Two-Pot Retirement System requirements
• Ensure compliance with statutory deductions and remittances: PAYE, UIF, and the Skills Development Levy (SDL)
• Utilise effective procedures and documentation strategies
• Reconcile customer books and manage accounts payable with confidence
• Recognise the signs of fraud and identity theft within payroll systems
• Employ techniques to detect and address errors and fraudulent activity promptly

Explore the programme

Detailed programme outline

2-Day Essentials — Training Outline

• Overview of payroll functions and reconciliation, and why payroll accuracy matters
• Reconciliation purposes, variance reports, and company reconciliation reports
• Group exercise: identifying discrepancies in sample reports
• Fixed and variable payroll input; handling salaries, allowances, overtime, and bonuses
• Common challenges in payroll processing
• Exercise: preparing a mock payroll batch
• Reconciling monthly pension fund contributions, including current Two-Pot Retirement System requirements (vested, savings, and retirement components)
• Statutory deductions: PAYE, UIF, and the Skills Development Levy (SDL)
• Workshop: calculating tax and pension deductions under the current rules
• Reconciliation procedures and documentation basics
• Detecting and correcting common errors
• Practical session: reconciling a mock customer's book
• Recognising fraud and identity theft indicators in payroll
• Reviewing payroll registers for fraud indicators
• Case study discussion, and deciding whether the 5-Day Comprehensive programme is the right next step

5-Day Comprehensive — Training Outline

• Welcome and introductions
• Overview of payroll functions and reconciliation
• Understanding the importance of payroll accuracy
• Reconciliation purposes
• Exploring variance reports
• Company reconciliation reports overview
• Deep dive into fixed and variable payroll input
• Handling salaries, allowances, overtime, and bonuses
• Practical application: entering data and calculating payments
• Reconciling monthly contributions: pension fund, including current Two-Pot Retirement System requirements — vested, savings, and retirement components, and their payroll administration implications
• Tax remittances: understanding PAYE
• Statutory deductions: UIF (Unemployment Insurance Fund) and the Skills Development Levy (SDL)
• Compliance and legal requirements in payroll
• Workshop: calculating tax and pension deductions; case study applying PAYE regulations to different salary brackets
• Reconciliation techniques: procedures and documentation
• Understanding customer books and accounts payable
• Detecting and correcting errors: hands-on activities
• Practical session: reconciling a mock customer's book; group exercise on error detection and correction in accounts payable
• Handling fraud and identity theft in payroll
• Techniques for detecting errors and fraud
• Applying skills to the workplace
• Case studies: real-world scenarios of payroll fraud; group discussion sharing experiences and best practices; course evaluation and certification ceremony

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.