The practice of processing employee paychecks. Payroll specialists are practitioners of this specialty and provide specialty accounting clerical services to process employee paychecks correctly and in a timely manner. They are assigned specific tasks in a cyclical nature to meet the designated deadlines based on paycheck schedules.
Payroll specialists review time sheets for accuracy, verify hours worked by employees, compute wages based on pay rate and deductions, enter or record payroll information and process employee paychecks based on a designated schedule. They may also prepare all new employee paperwork, verify tax deductions and enter new employee information into the existing payroll system. Updating employee records as related to employee wages is also part of their responsibilities. In addition to this, payroll specialists may need to make adjustments to and maintain accurate records, and they may compute and transact payment for commissions and bonuses if applicable.
Concerning the qualifications for a payroll specialist, larger companies may require of the job candidate up to five years of experience in payroll processing, while some may require a degree in accounting or finance. Payroll specialists should have strong accounting clerical skills and abilities to work with procedures and policies as determined by their company. Being well organized and detail oriented is also a must for a professional payroll specialist, who should also have the ability to learn specific payroll-related software programs. Payroll specialists often work autonomously and complete their work in an efficient and timely manner. Another important quality of a payroll specialist is the ability to handle the pressure of meeting very specific deadlines.
Payroll specialists work on computers inputting data for long periods of time, thus needing to be accurate in their data entry. Performing standard administrative duties such as filing and answering inquiries from employees and supervisors can also be their responsibilities. Payroll specialists often must multi-task as well as prioritize in order to maintain efficiency. They also provide payroll reports as needed and assist in year-end reporting.