Payroll Accountant Job Profile and Description

A payroll accountant performs a complex and responsible job since his calculation and documentation determines the payments to be made to every employee, worker, and other parties who are to receive cash in return of some service. Payments are an integral and crucial part of any profit-making organization and the proper determination of exact amounts is as important as maintaining company records of sales and profits. Hence a payroll accountant must be extremely educated in the required subject and be able to perform his task efficiently.

He must keep every single record in the required books of accounts and account for them as per the company regulations of payment. Not just the exact amount but the exact time for payment and other details such as mode of payment, name, address, and contact details of recipient, and other information must be maintained thoroughly by the payroll accountant.

Payroll Accountant Duties and Responsibilities

A payroll accountant is an extremely important employee in any company or organization, and needs to perform a wide variety of duties and responsibilities comprising of:

  • Maintenance of employee records, such as date of joining, position held, days worked, casual, medical, or other leaves taken, and their respective bank statements, deductions to be made, wages and benefits granted by the company, perks offered, etc.
  • Study of company’s financial structure as well as administrative details so as to keep a record of all pending payments to partners, shareholders, creditors, or clients.
  • A payroll accountant must co-operate with auditors and provide necessary details regarding payments, as and when required.
  • He must inform individuals regarding payment-related issues much ahead of deadlines.
  • The accountant must be well adept with the company’s record-keeping system so as to include new members as part of payroll-management system that would ensure them exact payments at proper time.

Payroll Accountant Skills and Specifications

The skills and attributes to be specifically acquired by payroll accountants include:

  • Accounting knowledge and efficiency in mathematics
  • Ability to take in instructions quickly and properly; understanding skills
  • Communicative skills to interact with employees as well as superiors

Payroll Accountant Education and Qualification

A candidate appearing for the job of a payroll accountant needs to possess the following academic degrees and meet qualification requirements such as:

  • Bachelor’s degree in the field of accounting or related studies – business or finance
  • A minimum of two-four years of working experience
  • Certification standards such as Certified Payroll Professional [CPA] or Fundamental Payroll Certification [FPC] are to be acquired

Payroll Accountant Salary

An average payroll accountant receives an annual salary of $58,000, with salaries increasing with increased levels of education and work experience, and also depending on company structure.

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