Keeping good office records of your payroll is very important. Submitting payroll forms to the Payroll Department in a timely manner is also important. Here are some helpful hints for your use.
For payroll, enter all of your employee's names into the spreadsheet. Enter their yearly salary over twelve months (for example, $24,000 annual salary = $2000.00 for 12 months). This will help you to set aside the exact amount of dollars needed to cover your payroll expenses for a given year. If you give your employees yearly increases, it will help you to calculate those as well, and to remember to carry the new amount to the end of the year. Remember, when prorating a salary, the monthly payroll is based on a 30-day period.
Work closely with your Payroll Counselor for payroll expenses. They are available to make personal appointments with you to review your payroll, or to help you if you just need clarification on a procedure. If a payroll form is received in the Payroll Department and is incomplete or has errors, the payroll form must be returned to you for correction. This slows down the payment process.
The fifteenth of every month is an important date in the Payroll Department. Paperwork received by this date will always be processed for that month and ensures that everyone is paid at the appropriate salary and will receive their check at the requested destination on pay day.
All payroll forms must by signed by the employee's employing authority. Make sure forms requiring employee's signature are also signed in all the right places. Forms without proper signatures will be returned to you for correction.
Remember, all expenses become public record. Information pertaining to your payroll is used to make up the Monthly Financial Statement. The Monthly Financial Statements make up the Statement of Disbursements (formerly called The Report of the Clerk of the House or Clerk's Report).