Payroll processing is one of the major responsibilities of the HR department. However, it’s not just restricted to them. The finance team should also be involved in the process to prevent employees from getting overpaid or underpaid. If you want a better idea of how to delegate payroll tasks between your HR and finance teams, we’ve got you covered.
Here are the parts each team plays in making payroll processing smooth and error-free.
Provides the attendance and leave data for calculating payroll
Finalizes payroll benefits for employees such as incentives, bonuses, remuneration, and more
Manages questions and concerns from employees regarding their payroll
Calculates the gross salary of each employee
Manages deductions and tax obligations
Processes payroll on a set schedule
Organizes payroll paperwork to ensure compliance
Read more about the responsibilities of each department in processing employee payroll.