Being a skilled payroll professional means that you need to know how to sustain any business compliance. Being up-to-date with the latest regulations and procedures forms part of the payroll duties. Moreover, a payroll specialist needs to perform payroll and to manage taxes preparation in order to offer any related software, training or support services to a company’s client and to simultaneously help the business to pay employees on time.
Get the experience
Learn to become a payroll professional! The first step is to gain enough experience for the position. Although you can qualify for some basic casual jobs such as a payroll technician, payroll practitioners or payroll system analysts with college diplomas, or with degrees in accounting and business administration, you can effectively make your profile to stand-out as a candidate. These courses shall include tax preparations, finance, accounting and payroll processing which you might need before getting started.
4 Things You Need to Know About Payroll
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Exempt Employee vs. Non-Exempt Employee
When working, there’s two types of employees, the exempt employee and the non-exempt employee. The difference is that exempt employees are not paid for overtime work while non-exempt employees are entitled for overtime pay.
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Employee vs Independent Contractor
An employee is an individual employed by an employer to do a specific job who’s entitled to a potential salary along with certain benefits specified with an offer letter, a sign and written contract compared to an independent contractor who works for a company without any benefits of a contract basis.
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New Hire Procedures
There are multiple steps and procedures before attempting to hire the most qualified candidates. As a payroll professional, staying aware of all the latest human resources practices is fundamental. It can be throughout job postings, recruitment advertising such as newspapers, television, social platforms and others.
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Payroll Taxes
Payroll taxes are taxes imposed on employers and employees and normally calculated as a percentage on salaries
