Payroll Specialist Job Description, Skills, and Salary
Are you searching for a payroll specialist job description? Get to know about the duties, responsibilities, qualifications, and skills requirements of a payroll specialist. Feel free to use our payroll specialist job description template to produce your own payroll specialist job description. We also provide you with information about the salary you can earn as a payroll specialist.
Who is a Payroll Specialist?
Payroll specialists are financial clerks who handle employee paychecks. They may be referred to as payroll clerks or timekeeping clerks.
Payroll specialists are used by a company’s accounting and human resources departments to ensure that employees are paid on time and in full and that the proper deductions are made when processing payroll.
Payroll specialists must be knowledgeable about company policies regarding pay, hours, overtime, and other employment-related issues, as well as federal and state labor laws.
Payroll specialists use math to manage payment accounts and calculate check amounts for their employers. They also have a logical mindset, which allows them to identify the source of paycheck issues, troubleshoot payroll software applications, and select reasonable solutions to paycheck inconsistencies.
Courses relevant to this career include computer payroll time reporting and processing, bookkeeping, computer accounting, and benefits deduction.
Payroll Specialist Job Description
What is a payroll specialist job description? A payroll specialist job description is simply a list of duties and responsibilities of a payroll specialist in an organization. Below are the payroll specialist job description examples you can use to develop your resume or write a payroll specialist job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of a payroll specialist include the following:
- checking timesheets for accuracy and keeping track of financial transactions to ensure that wages and tax deductions are made.
- Conducting routine audits of payroll records to ensure ongoing accuracy and managing data and direct deposit requests
- keeping time and attendance records.
- Adding new hires to the payroll system and updating ex-employee profiles.
- Managing a payroll team for the human resources or accounting department, as well as providing training.
- Sharing information with other employees about any pay disparities.
- Preparing checks for distribution on the paper.
- Creating payroll reports for management and confirming approval of requests for overtime or paid time off.
- Ensuring compliance with all local, state, and federal tax regulations, including the payment of payroll taxes.
- Providing prompt responses to payroll questions from employees.
- Interacting with human resources departments to ensure that records are up to date.
- Obtaining the necessary payment approval from higher management.
- Obtaining every required signature for payroll distribution.
- Balancing the payroll budget and recording all payroll transactions, including any commission, bonus, tip, or hourly pay payments or credits.
- Ensuring that pay is adjusted to reflect promotions, bonuses, and commissions.
- Learning about and staying current on the regulations governing wages, benefits, and other aspects of payroll taxation.
- Processing, and keeping track of garnishment orders, and other payroll-related issues.
- Addressing clients’ payroll service concerns.
- Processing voluntary deduction forms in order to allow employees to participate in a variety of voluntary payroll deduction options.
- Contributing to the overall success of the Office of Financial Services by ensuring that all payroll-related activities are managed within the designated budget.
- Carrying out all additional payroll-related tasks that have been delegated to you.
Qualifications
- Associate’s or bachelor’s degree in business or accounting.
- At least five years of payroll or accounting experience is required
- A thorough understanding of tax and wage laws, as well as customer financial practices.
- Familiarity with the software tools used in the payroll industry.
- Excellent numerical and mathematical abilities.
- Excellent follow-up abilities.
- Outstanding multitasking and planning skills.
- Capable of performing well with little supervision.
- Computer knowledge, particularly with Microsoft Office programs.
- Capable of sitting in front of a computer for extended periods of time during the workday.
Essential Skills
Payroll specialists need the following skills to excel in their careers:
- Data Entry Abilitiescareers
This requires a high level of accuracy and attention to detail, as well as technical computer skills. As a payroll specialist, you may be in charge of entering employee data into a database. Payroll specialists must be very careful when entering data about employee time worked and compensation owed to ensure employees receive the correct amount of pay at the correct time and to maintain accurate payroll records.
- Accounting
Payroll specialists must have accounting knowledge in order to understand financial records and perform calculations. Accounting skills can help you better understand the company’s budget and payroll procedures. Accounting knowledge can also be used to ensure that employees are properly paid by the company.
- Ability to Solve Problems
Payroll specialists face a variety of issues while processing payroll, including compliance issues, tax discrepancies, and calculation errors.
A successful payroll specialist must be knowledgeable, systematic, and effective in dealing with any issues that may arise.
- Communication skills
As a payroll specialist, you may be required to communicate with employees, managers, and other business representatives.
As a result, payroll specialists must have excellent verbal and written communication skills in order to interact with staff members internally to address payroll-related issues and concerns, as well as interact with other payroll department members. By using effective communication, you can better convey information and respond to inquiries.
- Computer and Software Proficiency
Payroll specialists require strong computer skills because their job entails typing and using programs such as Microsoft Office, among others.
You will also need a thorough understanding of industry software designed specifically for payroll processing, such as QuickBooks, sage, and others. Knowing how to use such software will allow you to better organize employee information, speed up payroll processes, and perform your duties. As a result, it is critical to gain a thorough understanding of this software while also staying current with the latest versions.
- Mathematical Skills
The position of payroll specialist necessitates exceptional numerical abilities. In this position, you will be required to process complex data, numbers, and calculations. As a result, this profession necessitates a natural aptitude for math and accounting.
If you have strong math skills, you will be able to complete certain calculations, such as statutory deductions and tax reports, more accurately and without errors.
- Discretion
This position frequently deals with personal data. As a result, you must exercise extreme caution, especially when dealing with sensitive information.
Payroll specialists are needed in any organization, and you must respect the privacy of the information you handle. To protect sensitive data, you must also ensure that you are following all applicable laws and rules. To accomplish this, you must be familiar with your company’s security and privacy protocols.
- Auditing
The process of checking the accuracy of financial records is known as auditing. As a payroll specialist, you may be expected to audit business records and ensure that all transactions are accurate. You can use auditing skills to review employee data to ensure that your company complies with federal tax and other payment regulations.
- Teamwork
Collaboration is essential for success in the majority of modern business environments, so it is essential for your position as a payroll specialist.
Professionally and diplomatically, you will need to work closely with members of other departments as well as those from your own. You may also be required to manage a team and collaborate with coworkers, clients, board members, and other department heads on a variety of payroll-related issues.
- Customer Service
Payroll and customer service responsibilities frequently overlap. Payroll specialists must be able to communicate with clients, human resource staff, and other employees in a polite, patient, and understanding manner. They must also be prepared to answer questions on a variety of related topics.
- Time Management Skills
Payroll specialists’ duties require them to multitask throughout the day in order to process payroll on time and ensure that employees are paid on time. Payroll specialists must be excellent time managers. Using time management techniques, payroll specialists can complete their work on time while maintaining a healthy work-life balance.
- Leadership
Payroll specialists must be capable of effective leadership. Depending on their level of seniority, payroll experts may be asked to brief company executives, counsel HR staff, or manage a team of workers.
- Detail-oriented observation
Payroll specialists must have strong attention-to-detail skills in order to enter accurate data into the company’s payroll system. They must also ensure that accurate data, such as employee names, social security numbers, and other private information is entered into the system. Accuracy is also essential when entering data into other corporate databases.
- Compliance knowledge:
Extensive compliance knowledge is required for the position of payroll specialist.
Payroll processing is impossible unless a variety of compliance guidelines, such as tax laws and legal requirements, are followed.
Payroll specialists must be familiar with the laws and rules that govern payroll in order to avoid severe penalties. Because these rules are updated on a regular basis, you must also keep up with any changes to compliance.
How to Become a Payroll Specialist
Aspiring payroll specialists can begin by doing the following:
- Get your Education
Payroll specialists must have a high school diploma or a General Education Development (GED) certificate as a minimum educational requirement. Employers frequently prefer candidates with a bachelor’s degree in accounting or a closely related field. Economics, accounting fundamentals, spreadsheets, computerized accounting, and taxes are all relevant courses.
- Obtain Hands-on Work Experience
Many payroll specialists advance from the position of payroll clerk to that of payroll specialist. Employers frequently prefer candidates with at least five years of relevant experience for payroll specialist positions.
- Acquire Certifications
In order to advance in your career as a payroll specialist, certifications pertinent to the position and industry are crucial. The best candidates for hiring managers and recruiters will be those who can demonstrate their skills and qualifications. You might be able to advance your career with these certifications and land higher-level jobs.
For those working in payroll, the American Payroll Association (APA) offers two levels of certification:
- Fundamental Payroll Certification (FPC):
This certification’s coursework provides a thorough introduction to the field of payroll and is intended for entry-level professionals in that field. Fundamental payroll certification holders are excellent candidates for mid- to entry-level payroll clerk positions.
- Certified Payroll Professional (CPP):
A CPP certification can help you stand out from the crowd when applying for managerial positions and more difficult payroll roles. Prior industry experience and a thorough understanding of fundamental concepts such as employment taxes, employee benefits, and the Fair Labor Standards Act (FLSA) are required for this advanced certification.
However, there are additional certifications you can acquire. They include the following
- Certified Bookkeeper
The American Institute of Bookkeepers awards the Certified Bookkeeper designation to individuals with at least two years of professional experience in accounting, bookkeeping, accounts payable, or a related field.
- Microsoft Office certifications
The five primary Office apps are Word, Excel, PowerPoint, Access, and Outlook. Microsoft Office offers a number of certifications that attest to a user’s proficiency with at least one of them.
- Start the Job Search Process
Once you have some education, you can begin applying for jobs as a payroll specialist. Many jobs require either education or experience, or both. You should be able to demonstrate that you spent a significant amount of time on math and related tasks in any previous clerical position you held in order to demonstrate that you have the necessary experience and that you are capable of completing the tasks that are expected of you. You could persuade a recruiter that you have the skills they seek by providing a reference from a previous employer.
- Continuing Education
Once you obtain your first certification and begin working as a payroll specialist, your professional education does not end. If you want to keep your job and advance, you must continue to look for and enroll in relevant certification courses. The Certified Payroll Specialist (CPS) program is designed for payroll specialists who do not have an associate’s or bachelor’s degree in accounting. They may decide not to attend school and instead pursue certification.
Because this certification is self-paced and designed for independent study, you can begin at any time and finish at your own pace. You and other test-takers will complete your certification exams.
Where to Work as a Payroll Specialist
Accounting firms, government agencies, and corporate payroll departments are examples of workplaces for payroll specialists. They may have to work longer hours during busy periods, such as the end of the fiscal year or quarter. Payroll specialists typically work in air-conditioned, well-lit offices. They may spend a significant amount of time sitting while using a computer or talking on the phone.
Payroll Specialist Salary
According to salary.com, the average Payroll Specialist salary in the United States is $51,855. The typical salary ranges from $46,074 to $58,754.
Payroll specialists can earn a variety of salaries based on a variety of important factors such as their level of education, professional experience, certifications, and additional skills.