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Payroll jobs involve the execution of all procedures that ensure the employees of a business receive their correct compensation on the correct designated calendar days. Different levels of this occupation are in place, and each requires a certain amount of education and specialized training. Depending on the size of the business or organization, an owner may employ either in-house payroll personnel or outsource this task to a specialized payroll company.
Entry-level payroll jobs are most often as clerks, who are responsible for gathering and organizing certain employee information. This information includes salary amounts, hourly wages, the number of hours worked for each pay period, and any recorded time off for each employee. Many employers give preference to prospective payroll clerks with basic accounting knowledge, and certain computer skills such as creating spreadsheets are a must.
Business owners of a medium-to-large company usually employ a group of payroll clerks that a payroll supervisor oversees. Experienced payroll supervisors should have an in-depth background in accounting as well as effective skills as managers. However, most small businesses can't afford this luxury, so the owners take full responsibility for payroll tasks.
Owners need to consider that payroll decisions and functions are often a factor in employee retention rates. Successful administration of payroll is a direct reflection of how well a business owner is able to manage overall expenses, profits and other financial decisions regarding the company. This idea holds true regardless if a business has its own payroll department or utilizes an outside payroll service. If a business owner chooses to outsource payroll, it is important to research the skills and reputation of any such company before making the decision to work with them.