Payroll Terms & Concepts NCSC Product Certification Payroll Anytime, Anywhere!
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Transcript of Payroll Terms & Concepts NCSC Product Certification Payroll Anytime, Anywhere!
Payroll Terms & ConceptsNCSC Product Certification
Payroll Anytime, Anywhere!
Welcome!
What do these words have in common?
Pay Periods
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.3
DeductionsPayroll
ProcessCompliance
Welcome!
Of all employee-related demands that our clients face, payroll administration is one of the most complex.
Definitions and basics of payroll processing
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.4
Introduction
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.5
Accounting Periods
Calendar Fiscal Quarter Pay Period
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.6
Pay Periods
Weekly Bi-Weekly Semi-Monthly Monthly Other
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.7
Pay Rates
Hourly Piece Rate Salary
Salary + Bonus Commission Salary + Commission
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.8
Recap
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.9
Payroll Basics
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Payroll Process
Manage Employee Records
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.11
Collect time and attendance data
Input payrolldata
Period EndProcessing
Process and Distribute Payroll
Managing Employee Records
Creating- Collect static data- Verify employee contracts- Verify compensation and benefits- Verify tax information and jurisdiction- Enter employee information
Reporting- Respond to inquiries about employee records- Assemble data for audits or other reporting needs- Report new hires to the U.S. Department of Labor
(DOL)
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.12
Collect Employee Time and Attendance
Label and set up time cards or
time sheets Collect time cards or sheets Supervisor sign-off or approval Review for missed punches and
exceptions then reconcile
missing information or damaged
time cards Audit the totals and check for
errors Enter the data
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.13
Input Payroll Data
Collect Payroll Data Calculate Payment Generate and Review Pay Reports Update Files
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Produce Payroll
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.15
Print and sign checks Stuff checks into
envelopes and distribute For direct deposit,
transfer funds to
employee accounts Transfer garnishments Submit tax payments
Period End Processing
Each Pay Period Monthly Quarterly Calendar Year End Fiscal Year End
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.16
Compliance
Fair Labor Standards Act
Requires employers to keep a record of employee hours; sets minimum wage and requires overtime pay of 150%–the
pay rate for work over 40 hours per week.
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.17
How Can ADP Help?
Increased Accuracy Improved Decision Making Enhance Employee Satisfaction Accommodate Needs Increased Productivity Save Time and Money
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Summary
Payroll Terms and
Concepts Basic Payroll
Processes Compliance How ADP Can Help
© Copyright 2011 ADP, Inc. Proprietary and Confidential Information.19
Welcome!