On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Christine Stolpe
- Topic: Payroll, Human Resources, Taxation and Accounting
- Credit: ATAPR 1.5, ATAHR 1.5, ATATX 1.5, HRCI 1.5, SHRM 1.5, RCH 1.5, CPE 2.0
-
Join us for an essential webinar designed for payroll professionals seeking to enhance or establish effective audit methods for key payroll elements. This session will cover critical aspects such as payroll records, funding details, tax records, and reconciliations. Our expert presenters will guide you through the importance of regular audits, focusing on quarterly and year-end reviews. You'll also discover best practices for conducting second reviews and communicating effectively with employees, ensuring your payroll processes are accurate and compliant.
In this webinar, you will gain a deep understanding of various payroll auditing methods and learn how to scrutinize information to identify and correct inaccuracies. The session will provide insights into auditing payroll records, ensuring thorough data accuracy, and highlight the importance of regular audits. By integrating these practices into your payroll processes, you'll be able to resolve issues promptly and maintain high standards of payroll integrity.
Your Benefits For Attending:- Understand various payroll auditing methods.
- Learn how to scrutinize information to identify and correct inaccuracies.
- Gain insights into auditing payroll records, ensuring thorough data accuracy.
- Discover the importance of regular audits and how to effectively integrate them into payroll processes.
- Learn best practices for conducting second reviews and resolving issues promptly.
- Introduction
- Agenda 00:04:07
- Audit Methods 00:06:39
- Benefits 00:19:54
- Payroll In 00:26:48
- Payroll Out 00:40:06
- Taxes 00:49:56
- Quarter End 01:01:07
- Year End 01:08:15
- Year Beginning 01:22:52
- Have Any Questions? 01:30:17
- Thank You! 01:40:40
- Presentation Closing 01:41:44
- 401(k) 00:20:30, 00:43:19, 01:06:17, 01:13:24
- Accounting (ACCG) 00:45:30
- API - Application Programming Interface 00:21:56
- Artificial Intelligence (AI) 00:39:15
- Audit 00:04:13, 00:09:26, 00:15:35, 00:23:30, 00:28:50, 00:34:15, 00:36:26, 00:41:34, 00:44:02, 00:50:00, 01:01:10
- Business Intelligence (BI) 00:12:43, 00:18:29, 00:39:15, 01:08:36
- Child Support 00:43:52
- Credit (CR) 00:45:27
- Debit (DR) 00:45:27
- Electronic Federal Tax Payment System (EFTPS) 00:51:19
- Expense Reimbursement 00:28:59
- Flexible Spending Account (FSA) 00:43:29, 01:13:23
- Form 941 001:04:13, 01:06:54
- Formula 00:18:23, 00:39:44
- Form W-2 01:02:08, 01:06:53
- Form W-4 00:07:19
- Garnishment 00:43:50
- General Ledger (GL) 00:45:17
- Health Savings Account (HSA) 00:43:25, 01:13:23
- Invoice 00:26:38, 00:52:41
- Levy 00:43:49
- Manual Audit 00:06:47, 00:18:12
- Pivot Table 00:18:24
- Profit and Loss Statement (P&L) 00:45:49
- Publication 15-T 00:5724
- Roth IRA 00:43:20
- Spreadsheet 00:09:21, 00:40:47
- Vendor 00:23:11, 00:31:13, 00:52:41, 01:11:33
- Visual Audit 00:06:47, 00:18:12
- VLOOKUP 00:09:50, 01:15:03
401(k): In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code.
Accounting (ACCG): A systematic way of recording and reporting financial transactions for a business or organization.
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Audit: A formal examination of an organization's or individual's accounts or financial situation
Business Intelligence (BI): Business intelligence (BI) is the process of using data analysis and technology to help organizations make informed decisions. BI tools collect, analyze, and present data to help identify trends, solve problems, and grow revenue.
Child Support: Child support is an ongoing, periodic payment made by a parent for the financial benefit of a child following the end of a marriage or other similar relationship.
Credit (CR): An accounting entry that may either decrease assets or increase liabilities and equity on the company's balance sheet, depending on the transaction. When using the double-entry accounting method there will be two recorded entries for every transaction: A credit and a debit.
Debit (DR): An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet.
Electronic Federal Tax Payment System (EFTPS): The Electronic Federal Tax Payment System (EFTPS) is a free service from the U.S. Department of the Treasury. EFTPS is a convenient way to make federal tax payments online or by phone, 24/7.
Expense Reimbursement: Expense reimbursement is a method for paying employees back when they spend their own money on business-related expenses. These expenses generally occur when an employee is traveling for business but can occur in other work-related situations. (www.thebalancecareers.com)
Flexible Spending Account (FSA): A Flexible Spending Account (also known as a flexible spending arrangement) is a special account you put money into that you use to pay for certain out-of-pocket health care costs. You don't pay taxes on this money. This means you'll save an amount equal to the taxes you would have paid on the money you set aside.
Form 941: Federal form 941, also called a quarterly federal tax return, is an IRS return that employers use to report their FICA taxes paid and owed for the period. The IRS uses this form to calculate the amount of employer tax payments made during the year as well as the amount of taxes due at the end of the year.
Form W-2: Form W-2 is an Internal Revenue Service tax form used in the United States to report wages paid to employees and the taxes withheld from them. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. - Wikipedia (https://en.wikipedia.org/)
Form W-4: Form W-4 (otherwise known as the "Employee's Withholding Allowance Certificate") is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer.
Formula: A formula is an expression which calculates the value of a cell.
Garnishment: A legal summons or warning concerning the attachment of property to satisfy a debt
General Ledger (GL): A complete record of the financial transactions over the life of a company.
Health Savings Account (HSA): A savings account used in conjunction with a high-deductible health insurance policy that allows users to save money tax-free against medical expenses.
Invoice: An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice.
Levy: A tax levy, under United States Federal law, is an administrative action by the Internal Revenue Service under statutory authority, generally without going to court, to seize property to satisfy a tax liability. The levy "includes the power of distraint and seizure by any means".
Manual Audit: A Manual Audit is a comprehensive review of a Supplier's written safety manual, policies, procedures, and/or safe work practices. The intent of the Audit is to ensure the supplier has established effective processes to protect its employees from reasonably foreseeable harm in accordance with jurisdictional safety requirements and industry-best practices.
Pivot Table: A report creation tool in Excel that enables you to quickly summarize lists of data into summary reports by clicking checkboxes and dragging fields onscreen.
Profit and Loss Statement (P&L): A financial statement that is used to summarize a company’s performance and financial position by reviewing revenues, costs and expenses during a specific period of time, such as quarterly or annually.
Publication 15-T: Employers use Publication 15-T to figure the amount of federal income tax to withhold from their employees' wages.
Roth IRA: A Roth IRA is an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free.
Spreadsheet: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation or computation capabilities, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications. Excel forms part of the Microsoft Office suite of software.
VLOOKUP: An Excel worksheet function that allows you to look up data from a list by specifying criteria, cell coordinates for the list, column number from which to return data, and an indication as to whether you want an exact or approximate match.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.
Visual Audit: A visual audit is a comprehensive analysis of a brand's visual elements to ensure that they are consistent and aligned with the brand's identity and message. It can also include an examination of verbal and written components.
