Payroll Analyst Job Description Template

Job Brief

We are looking for a Payroll Analyst to oversee the way we compensate employees and ensure all payments are accurate and on time.

Payroll Analyst responsibilities include reviewing payroll data and documents for inefficiencies and errors, checking whether all amounts are accurate based on hours worked and ensuring payments are made on time. To be successful in this role, you should have excellent analytical skills with the ability to spot numerical errors.

Ultimately, you’ll help us maintain an efficient payroll process that complies with all federal and state regulations.

Responsibilities

Review timesheets and attendance records and correct inaccuracies
Prepare and submit all necessary paperwork for tax deductions, benefits and garnishments
Analyze compensation-related data including wages and bonuses
Oversee payroll transactions (e.g. via e-banking)
Conduct regular audits on payroll procedures and records
Process benefit costs, like insurance fees and sick leaves
Design, document and implement procedures to streamline payroll processes
Manage payment calendars for the fiscal year
Report to management on payroll issues and changes
Answer employees’ questions about salaries and tax
Stay up-to-date on state and federal payroll and tax laws

Requirements

Proven experience as a Payroll Analyst, Payroll Coordinator or similar role
Deep knowledge of state and federal payroll and tax regulations
Hands-on experience with payroll software (like Oracle and Kronos)
Familiarity using Excel and spreadsheets
Excellent analytical skills
The ability to work under tight deadlines
BSc in Human Resources Management, Accounting or relevant field

What does Payroll Analyst do?

A Payroll Analyst typically performs a variety of tasks on a day-to-day basis, including:

Processing Payroll: Reviewing and analyzing employee timesheets, verifying pay rates, calculating deductions, and ensuring accurate and timely payroll processing.
Data Management: Collecting and maintaining employee records, including tax forms, benefit information, and salary changes. This involves ensuring data accuracy and updating employee information as needed.
Compliance: Staying updated and ensuring compliance with federal, state, and local payroll regulations, tax laws, and labor laws. This includes calculating and filing payroll taxes, preparing government reports, and responding to any payroll-related audits or inquiries.
Benefits Administration: Assisting with the administration of employee benefits, such as health insurance, retirement plans, and disability programs. This involves tracking employee enrollments, deductions, and reconciling benefits contributions with payroll records.
Reconciliation: Performing regular payroll reconciliations to ensure accuracy and alignment between payroll records and general ledger accounts. This includes investigating and resolving any discrepancies.
Reporting and Analysis: Generating various payroll reports for management, HR, and finance departments. This may involve analyzing payroll data, identifying trends, and providing insights to support decision-making.
Employee Inquiries: Responding to employee inquiries related to pay, deductions, taxes, and benefits. This involves providing guidance, resolving issues, and directing employees to appropriate resources, if necessary.
Continuous Improvement: Identifying opportunities for process improvements or automation to enhance payroll efficiency, accuracy, and compliance. This may involve collaborating with cross-functional teams to implement changes.

Overall, a Payroll Analyst plays a critical role in ensuring accurate and timely payroll processing, maintaining compliance with regulations, and providing support to employees and management regarding payroll-related matters.

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