According to Forbes, Payroll management is a crucial aspect of running a business that involves overseeing and administering the financial aspects of employee compensation. This includes not just the calculation of wages and salaries but also the accurate tracking of paid time off (PTO), overtime, deductions like healthcare, commissions, and ensuring compliance with employment laws. In this course you will learn the importance of payroll to a business, how to design effective payroll systems, calculations of allowances and deductions according to the Finance Act of Nigeria etc.
Delivery Methodology:
This course is available in both classroom and virtual modes. Our classroom training is held at The City Mall, Onikan, Lagos Island, Lagos State.
Course Content
Introduction to Payroll Management
- Understanding the role and importance of payroll in business operations.
- The evolution of payroll management with technology and remote work.
Record Keeping and Compliance
- Requirements for maintaining payroll records.
- Ensuring compliance with employment and tax laws.
Employee Information Management
- Properly handling and storing employee records.
- Confidentiality and privacy considerations.
Calculating Wages and Salaries
- Methods for calculating regular and overtime pay.
- Handling bonuses, commissions, and other forms of compensation.
Deductions and Benefits
- Managing standard deductions like taxes, insurance, and retirement contributions.
- Administering employee benefits and understanding their impact on payroll
Payroll Taxes and Reporting
- Calculating and reporting state and federal payroll taxes.
- Understanding tax forms and deadlines.
Payslip Preparation
- Preparing and interpreting payslips.
- Ensuring transparency and accuracy in employee payments.
Dealing with Contractors
- Payroll considerations for outside contractors.
- Compliance with tax laws and reporting requirements.
Using Payroll Software
- Introduction to common payroll software solutions.
- Automating payroll processes for efficiency and accuracy.
Ethical Practices in Payroll
- Understanding the ethical implications of payroll management.
- Best practices for ethical conduct in payroll operations.
Physical Class
For Individual
The course will be held on Saturday 27th & Sunday 28th of April, 2024 between 10 am – 5 pm. Participants are entitled to an hour refreshment break.
Online Class
For Individual
The course will be held on Saturday 27th & Sunday 28th of April, 2024 between 10 am – 5 pm. Participants are entitled to an hour refreshment break.