How to Become a Payroll Officer(6 courses)
What do I need to study to become a Payroll Officer?
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Definition of Payroll Officer
Payroll Officers are primarily responsible for ensuring that a companyâ€™s employees are paid correctly and on time. They collect and process timesheets, manage databases and maintain records of staff wages, overtime, and leave.
Taking into account deductions such as tax and superannuation; the Payroll Officer calculates, prepares and distributes wages, bonuses and commissions. When new employees are hired, the Payroll Officer ensures all the relevant information is supplied, in order to correctly determine the pay for each person. It is up to the Payroll Officer to update the employee database and, when an employee leaves, ascertain payout figures and entitlements.
Beyond paying wages, the Payroll Officer is typically also tasked with monitoring government legislation relating to tax and payment standards, advising management of relevant changes and ensuring that the company is in compliance.
What are the responsibilities of a Payroll Officer ?
- Creating and updating personnel files.
- Collecting and checking timesheets and other relevant data to prepare payroll.
- Recording employee information such as contact details, hours worked, leave taken, overtime, promotions and tax deductions.
- Processing and distributing wage and salary payments.
- Verifying final payouts and entitlements to fired, transferred or retiring staff
- Maintaining up to date knowledge of current industrial awards, taxation and superannuation standards.
- Supplying reports and information to managers and employees regarding payroll legislation and changes.
Career Outlook for Payroll Officer
The average age of people working as is 44 with 15.60% of them being male. 62.80% of are employed full-time and they typically work around 36.9 hours per week.
Unemployment is below average and, with A Bachelor Degree or higher, the average Community Worker can earn around $1,054 per week Before Tax. In 2015 there were 32,700 working and the future growth of the profession is predicted to be stable, with numbers around 32,500 in 2020.